Greystone Property Development is looking to bring Robert A.M. Stern-designed condos to Sag Harbor, in what would be its first Hamptons Project.
This week the New York-based developer released first renderings for the 11-unit waterfront project at 1 Ferry Road, which is still awaiting planning approval. Greystone’s joint venture partner is local developer Michael Maidan.
“Many of our deals are kind of where an opportunity is presented to us,” said Greystone Property Development’s CEO Jeff Simpson. “This was one where we had an opportunity to go in a joint venture structure with someone who has been in that space for a few years.”
Simpson said the partners decided to hire Robert Stern’s office – known for Manhattan luxury condo towers like 15 Central Park West and 30 Park Place – because of its track record of designing homes in the Hamptons.
Ryan Serhant’s team at Nest Seekers International is marketing the units.
The development site is located near downtown Sag Harbor, and each of the 2,500-3,000-square-foot units would have water views, according to Simpson.
Greystone’s development division has been active in Manhattan and Brooklyn recently. Its latest projects include a 75-unit apartment building on East 125th Street and an 11-story condo building at 108 Chambers Street in Tribeca.