As Two Tree's Domino Sugar redevelopment presses forward at full steam, with the recent opening of its six-acre park and the start of two new towers, just inland a boutique condo building at 53 Grand Street is preparing to debut. The three-unit Williamsburg project has been led forward by Investmates, an innovative real estate firm with more than a dozen ventures now underway in Manhattan and Brooklyn.
53 Grand is sited between Kent and Wythe avenues, just a block from the waterfront and the new Domino Park. The designers in charge are The Meshberg Group in collaboration with ND Architecture & Design who are serving as the architects of record. A recent visit to the site shows that the finishing touches are being applied to the exterior. The facade consists of oversized windows and elongated Roman brick. Inside will be a first-floor simplex, and two full-floor duplexes. The approved offering plan shows the project aims for a $9.5 million sellout.
(Investmates)
Despite the pending L-train shutdown, condo sales in Williamsburg haven't shown any sign of cooling off. In fact, the neighborhood set a new closed sales record in August where the average price per square foot paid for a condo came in at $1,343. Current listings show that the median asking price for a one-bedroom in the neighborhood is $895K, two-bedrooms go for $1.395M, and three-bedrooms for $2.5M.
Average condo closing prices in Williamsburg (CityRealty)
Google Earth aerial showing location of 53 Grand Street (CityRealty)