200 Water Street is nothing like ever seen before in DUMBO. Megalith Capital and Urban Realty Partners have turned it around completely, from a former Brillo factory into a premium six-story boutique residential building.
The new property redesigned from the ground up by Gil Even-Tsur’s Architecture Workshop and Aufgang Architects includes gallery-style condominiums featuring two, three or four bedrooms with expansive windows and up to 14-foot high ceilings. The original street wool factory from the 1950s linked Bridge and Jay streets.
The penthouses hold eclectic roof decks, terraces and floor-to-ceilings windows in eclectic combinations. With other notable endowments like radiant heated Siberian white oak flooring, Montclair Denby marble kitchen countertops, Hansgrohe bathroom fixtures, and etched glass master bedroom doors—some of the apartments even house walk-in pantries, laundry rooms, and sliding walls that light up every corner of the apartments—the building is attracting a lot of buyer interest. Other facilities include a fitness centre, landscaped garden, bike storage and a doorman.
And if you thought the $2.8 million price tag was in any way a deterrent, think again– because that is just no match for the local demand for condos. The listing for the sale has been made available and, for now, only three apartments in the entire building are up for grabs, while five others, which include the $3.45 million Penthouse B and $3.6 million Garden B are already in contract.
About Megalith Capital Management
Megalith Capital Management is a residential real estate owner and developer focused on investments in New York City and urban, supply-constrained markets. The firm’s integrated platform specializes in the acquisition, development, repositioning and management of residential properties. Through opportunistic and value-added strategies, Megalith is able to offer high-end properties at competitive rental rates and sales prices. The firm was founded with an anchor investment led by affiliates of C&C Alpha Group Ltd and its Executive Director, Bhanu Choudhrie. Megalith owns and manages approximately $200 million of real estate assets and anticipates significant growth in the coming years