Watchcase Factory townhouses in Sag Harbor hit the market

Penthouse at Cape Advisors’ 64-residence development also lists, for $10M 

TRD New York /
Jun.June 04, 2014 04:30 PM

The first batch of townhouses at the Cape Advisors’ Bulova Watchcase Factory mega-development in Sag Harbor hit the market, the developer told The Real Deal.

When complete, the development will hold a total of 64 residences, including nine townhouses, 47 condominiums and eight one-bedroom bungalows. While the condos are being converted from the factory structure, the townhouses are ground-up construction on the perimeter of the site.

Of the 43 condominium units that hit the market in June 2013, 35 are in contract, said David Kronman, project manager at Cape Advisors.

Earlier this week, sales launched for a three-bedroom penthouse asking $10.2 million; a five-bedroom townhouse at 14 Sage Street asking $4.8 million; a six-bedroom townhouse at 25 Church Street asking $4.4 million; and a four-bedroom townhouse at 2 Sage Street asking $3.7 million. All residences are slated to be complete by the fall.

“We wanted to put a good variety of townhouse product on the market at first, at different price points,” Kronman said.

Townhouse prices range from $3.5 million to $6.5 million. Prices for the remaining penthouse condos range from $4.3 million to $10.2 million.

Brokers Cee Scott Brown and Jack Pearson of Corcoran Sunshine Marketing Group are handling sales.

Each townhouse has a wraparound terrace and 10-foot ceilings. Penthouse 400 spans about 2,850 square feet and features a staircase, library and double-sided fireplace.

Amenities will include parking in a 130-car underground garage, shared swimming pool, private gardens and a fitness center.

The former Bulova Watchcase Factory sat vacant years, having initially served as a cotton mill in the 1800s and later as a factory for manufacturing watchcases.

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