The Real Deal New York

As many as 10 waterfront towers coming to Williamsburg

1N4th, a new 41-story rental has already kicked off leasing

December 21, 2014 05:00PM

1N4th at at 1 North Fourth Street in Williamsburg

1N4th at 1 North Fourth Street in Williamsburg

The Williamsburg waterfront is set to see even more towers. The latest one to rise is dubbed 1N4th, but it certainly won’t be the last.

A 41-story building with 510 rental apartments at 1 North Fourth Street, is now topped out and started leasing this month. But about 10 waterfront high-rises may eventually join 1N4th, including three towers at the Domino Sugar site and several more on sites south of the Williamsburg Bridge, according to the New York Times.

If all ten towers are built, it would add as many as 4,300 apartments to Williamsburg.

“This is a rental project with condo-level amenities,” Jeffrey Levine, the chairman of Douglaston Development, which is building the tower, told the Times. “The site is almost a peninsula jutting out into the East River, and we literally have views from our homes that are 360 degrees.”

The rental market along the Williamsburg waterfront is still thriving, a fact that is sure to continue to draw ambitious developers. Rents there have increased as much as 25 percent since 2010. [NYT]Christopher Cameron

  • Stephen Ross

    Come on people! You’re doing it again! The syndicated “equity” and cheap construction financing model doesn’t work for takeout financing in 2017. These projects are future distressed inventory for lenders when they get built but can’t be refinanced. Stupid.

  • Eddie

    It would be marvelous for a fault line to crack off the entire waterfront up and down Berry street and dump all those buildings into the east river. God is merciful, it may happen yet. Pray, pray, pray.

  • Bobbie D

    stupid brokers must drooling all over the fees they can scam off these rentals… LOL

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