As residential towers begin to rise around the former Domino Sugar factory in South Williamsburg, a much more modest project is nearing the finish line a few blocks inland, on South 1st Street between Berry Street and Bedford Avenue.
Investmates Real Estate is putting the finishing touches on four two-family townhouses as 127-131 South 1st Street, not far from the Williamsburg Bridge or the restaurants and shops along the waterfront. Each four-story house will feature a garden duplex, topped by an owner’s triplex. The homes will measure about 4,000 square feet each and include private roof decks.
Nataliya Donskoy’s ND Architecture is designing the project, which will probably be finished by the end of the year.
Williamsburg will continue to rank as one of the city’s most expensive neighborhoods and regularly competes with DUMBO for the priciest in Brooklyn. The area’s restrictive zoning has encouraged developers to squeeze as many small units as possible into new buildings. So, buyers looking for family-sized, new apartments, or townhouses in the area often strike out. But a couple of new townhouse projects in the area are nearly finished, and they give us an idea of what Investmates’ townhouses will sell for.
The Townhouses at Wythe Lane are wrapping up nearby at South 4th Street and Wythe Avenue. Contracts have been signed for four of the six homes, which were asking around $4 million apiece. The 17-foot-wide single-family houses each encompass 3,800 square feet, with asking prices hovering around $1,050 a square foot.
Meanwhile, construction is also chugging along on a pair of loft-style townhouses at 259-261 Berry Street. One 19,000-square-foot, two-family home is set to sell for $3,200,000, and its identically sized neighbor was on the market for $2,950,000.
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