The Real Deal New York

Joint venture shooting for $30M sellout with luxury condos in Williamsburg

David Duke Dweck, Steven Ancona and Michael Marino planning 13 units at 62 and 66 North 3rd St.
By Will Parker | May 23, 2017 02:00PM

Renderings of 62 North 3rd Street (Credit: Indira Lourenco of I.Lo Design Corp)

Developers David Duke Dweck, Steven Ancona and Michael Marino are teaming up for 13 luxury condominiums at 62 and 66 North 3rd Street in Williamsburg, offering plans filed with the New York Attorney General’s office show.

The total target sellout for the apartments is set at about $30 million.

66 North 3rd Street is a boutique five-unit development where 2,000-square-foot, full-floor apartments are planned with a private rooftop terrace. Apartments here would list for an average of $3 million a piece and the penthouse would come with 1,500 square feet of outdoor space. At 62 North 3rd, eight apartments are planned with average price of $1.75 million. Finishes include Italian tile and oak flooring. “We’ve developed in Tribeca before and these are the Tribeca kind of finishes,” Dweck said when reached by phone.

The Northwest Brooklyn median condo price stood at $1.49 million in the first quarter of 2017, according to a report by appraisal firm Miller Samuel. A recent analysis from The Real Deal showed that buyer demand for Brooklyn condos remains high.

The six-story buildings recently topped out and Dweck hopes to launch sales by August. MNS will handle residential marketing and Ripco will take on 62 North 3rd Street‘s ground-floor retail space.

The developers acquired the two sites in 2014 for $4.93 million. Nearby, investor Cheskie Weisz recently bought a warehouse at 48 North 3rd Street for $42.5 million, with plans to demolish it and build a 96-unit mixed-use project.

As for the backgrounds of these developers, Ancona heads the brokerage and development company known as Flatiron Real Estate Advisors, Dweck is the principal of Duke Equities and Marino comes to the project from MJM Contracting.

(To view more new development properties in Williamsburg, click here)