Two Northside Piers is 50 percent sold

TRD New York /
Feb.February 14, 2011 01:58 PM
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

Related Articles

L+M Development Partners’ CEO Ron Moelis and an aerial of 401 Chester Street (Credit: L+M, Google Maps)

L+M transfers piece of big Brooklyn residential project to Dunn

Toll Brothers CEO Doug Yearley and 77 Charlton (Credit: iStock)

Toll’s profits plunge 20% amid housing slowdown

Ron Moelis of L + M Development Partners (Credit: iStock)

L+M to pay $25,000 penalty for unreported lobbying

From left: Brookfield's Ric Clark, 3333 Broadway and L+M's Ron Moelis (Credit: Brookfield, L+M, StreetEasy)

L+M, Invesco close on Putnam portfolio with $823M in Wells Fargo financing

Douglas Yearley of Toll Brothers

Homebuilder Toll Brothers looks to higher-earning millennials amid down Q3 results

Prime Minister Mette Fredriksen and President Donald Trump (Credit: Getty Images and iStock)

Well, that escalated fast: A timeline of Trump’s Greenland adventure

2686-2690 Broadway, Hank Fried of Branic International Realty (left), and Doug Yearley of Toll Brothers (Credit: Google Maps, Getty Images, and Toll Brothers)

Toll Brothers buys controversial Marrakech Hotel site for $44M

Supreme Court Judge rules against LES development

Two Bridges developers plan to contest judge’s ruling against plans for LES mega development