The Real Deal New York

Two Northside Piers is 50 percent sold

February 14, 2011 01:58PM

Rendering of living room at Two Northside Piers

Two Northside Piers, a new 30-story waterfront condominium in Williamsburg is 50 percent sold out and the first residents have moved in, the developers announced today. The residential project, a joint venture between Toll Brothers City Living, RD Management and L+M Development Partners, is the second of two glass buildings in the Northside Piers community that also includes the One Northside Piers condo, which is now completely sold out. Building amenities at the two towers include an indoor pool, residents’ lounge, fitness center and rooftop cabanas. Buyers are eligible for a 25-year tax abatement, monthly real estate taxes as low as $6 and historically low interest rates, according to David Von Spreckelsen, New York division president for Toll Brothers. Two Northside Piers is FHA- and Fannie Mae-approved as well. Buyers can choose from studio, one-, two-, three-bedroom and penthouse floorplans ranging in size up to 2,371 square feet. In spring 2009, Northside Piers allotted 10 apartments for its rent-to-own program, which allows renters to put their monthly payments toward the cost of buying their home. However, while all 10 units were quickly leased when the initiative was launched, just two of those renters ended up buying. TRD

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