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