Toll Brothers is setting up a new Dumbo construction and sales office next door to the vacant former site of the Brillo soap pad factory, where the luxury builder has proposed a 67-unit condominium tower, according to Crain's. The Toll Brothers lease is for two years in the 3,200-square-foot ground floor retail space at 215 Water Street, where landlord Pearl Street Realty was asking $30 per square foot. If all goes according to plan, the office will soon become the condo sales office for Toll Brothers' adjacent 10-story condo at
by the city's Landmarks Preservation Commission in April. The builder bought the site for $8.6 million, or $100 per square foot, at the end of last year, and plans to begin construction later this year. But if not, the company has the option to cancel the lease next door after 18 months, said David Von Spreckelsen, a senior vice president at Toll Brothers. Yesterday, the company announced that it would also form a
that would pursue distressed loan and property portfolios, among other investment opportunities.
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