Greystone Development, a New York-based real estate development company, announced the official start of leasing today for Harlem 125, located at 69 East 125th Street in East Harlem. Encompassing four adjacent lots on 125th and 126th Streets between Park and Madison Avenues, Harlem 125 brings 75 new residences to the heart of Harlem.
Envisioned by Kutnicki Bernstein Architects, the development is comprised of two adjoining towers, a boutique seven-story tower fronting 126th Street and a 12-story tower on 125th Street. The rental building includes studio, one-, two-, and three-bedroom units; many with outdoor space.
“Harlem 125 is just one important part of Greystone Development’s ever expanding residential portfolio, but it’s a very special one. We aimed to offer a residential product that was missing from this marketplace; one with thoughtful amenities, modern touches and homes that celebrate the community, and I feel we’ve successfully delivered exactly that,” said Jeffrey Simpson, Head of Greystone Development.
Harlem 125 incorporates spaces for residents to relax and entertain. The property includes a furnished rooftop terrace and courtyard, virtual doorman, parking garage, fitness center with outdoor space, bicycle storage, laundry room, resident storage and security. The anticipated market rents start at $1,994 for studios and will be offered exclusively by leasing agent Dave Maundrell and his team at Citi Habitats New Developments.
The interiors and finishes of Harlem 125 are designed by up-and-coming designer Lauren Williams of Lauren Jayne Design, a boutique design firm specializing in high-end residential and hospitality interiors. Inspired by art, music and the history of the neighborhood, the design also embraces refined industrial vibes intermixed with contemporary elements. In her third collaboration with Greystone, Lauren outfitted the kitchens with GE stainless steel appliances, stainless steel tiled backsplashes and Caesarstone countertops. The sleek, modern design continues into the bathrooms, which feature soaking tubs and both subway and Italian Ragno tiling.
Williams worked hand-in-hand with celebrated local artist, Lance Johnson, who is creating 12 original murals for Harlem 125. The artwork complements the overall aesthetic of the interiors and captures the spirit of Harlem dating back to the Harlem Renaissance. Johnson draws his inspiration from a variety of musical genres that span generations, including jazz, soul and hip-hop. Back in October 2016, Johnson also created a custom 76-foot mural for the project that was displayed outside of the building for a limited time.
“We strive to create one-of-a-kind properties that embrace and benefit their neighborhood,” said Simpson. “Leveraging the emerging creative talent of Lauren Williams and Lance Johnson, we have created something that is truly unique and pays homage to Harlem’s roots and rich cultural heritage.”
Additionally, the property boasts 5,600 square feet of ground floor retail on the bustling 125th Street corridor of Harlem, with 2,250 already leased to the MTA for its new 2nd Avenue subway community information center. This prime location is within close proximity to several public transportation options, green space, highly acclaimed restaurants, retail and several other new construction projects in progress, including the much-anticipated Whole Foods, opening this summer on Lenox Avenue.
For more information, visit www.harlem125nyc.com.
Greystone Development, a New York-based real estate development company, today announced that Myrtle, the first of a pair of luxury rental homes known as Myrtle & Steuben, is over 70 percent leased in less than two months. Dave Maundrell of Citi Habitats is exclusively leasing Myrtle and Steuben.
Myrtle features studio, one-, and two-bedroom units ranging from approximately 400 to 895 square feet, many with private outdoor space. Envisioned by AB Architekten, the building includes floor-to-ceiling double-glazed windows, with great light and air flowing into each unit and a fitness center offering soaring views of the Manhattan skyline. Other amenities include a rooftop terrace with lounge and BBQ area, virtual doorman, bike storage and laundry in each unit. Prices for available units start at $2,850.
The second phase of the development, Steuben, is located around the corner at 100 Steuben Street and will launch in the upcoming weeks. Steuben offers 43 residences consisting of studios to three bedrooms ranging from approximately 460 to 1,140 square feet. Steuben amenities will include a resident lounge, game room and co-working space as well as a fitness center, virtual doorman, rooftop terrace, bike and resident storage.
“We set out to create modern homes that pleasantly surprised local residents, effectively elevating the housing options in Clinton Hill. We harnessed AB Architekten’s vision, which was a marriage of their signature minimalist style and cool palette of blues and grays to create a unique space that resonated with the local marketplace.
It has been such a huge success, and we are thrilled to have set new benchmarks for velocity of absorption in Clinton Hill,” said Jeffrey Simpson, head of Greystone Development. “Clinton Hill is currently experiencing a residential renaissance, and we are excited to be contributing not only one, but two high-quality additions to this neighborhood.”
Located on the resurgent Myrtle Avenue corridor of Clinton Hill, this prime location is within walking distance of several major public transportation routes. Additionally, the property boasts 9,000 square feet of retail space which has already attracted two premier retail tenants, European Wax Center and The Commissary Kitchen.
“Clinton Hill is quickly becoming a destination for residents, as the neighborhood's central location is extremely appealing to New Yorkers and its mix of independently-owned businesses immersed within the Pratt campus gives the area a true neighborhood feel," said Maundrell. "There is a very strong marketplace in NYC today for premium boutique properties like Myrtle & Steuben and when matched up with a location like we have, it's basically the best of both worlds.”
Greystone Development, a New York-based real estate development company, announced the appointment of Christopher Britt as head of its new construction company affiliate, Greystone Builders. Greystone Builders is a full-service Construction Manager capable of providing expertise and oversight for the Greystone portfolio as well as third party projects. Its value add services include preconstruction guidance, management of all phases of design, budgeting, on-site supervision, cost monitoring, schedule maintenance and quality control. Greystone Builders’ diverse experience makes it uniquely qualified to provide solutions for any complex issues.
In this new role, Mr. Britt will be responsible for the oversight of the properties, including spearheading day-to-day operations, and optimizing conditions to maximize timely and cost-effective delivery of the properties.
Mr. Britt joins Greystone Builders with more than 20 years of industry experience. Prior to Greystone, he participated in the launch of Bravo Builders, a construction management startup. He spent the last three years contributing to the growth of that firm, which expanded from five to over 50 employees, and with a number of projects in development.
Before Bravo Builders, Mr. Britt was a Project Manager at Sciame Construction, where his talents were concentrated on four commercial properties spanning almost one million square feet throughout the Tri-State area. Prior to Sciame Construction, Mr. Britt functioned as the in-house, construction project manager for two separate New York-based architecture firms.
“This is a great opportunity to lead construction management at Greystone Builders,” said Mr. Britt. “Greystone Development is truly a one-stop-shop for real estate.”
“We are thrilled to have Christopher at the helm of this new business unit, which is uniquely involved in all steps of the construction process from inception to completion,” said Thomas Ryan, SVP at Greystone Development. “We are confident that Christopher will continue to further Greystone’s unparalleled level of service, helping us to provide the highest standards of quality and value in real estate development.”
Greystone, a real estate lending, investment and advisory company, today announced that Jerry Muir has joined as a Managing Director working with the Agency lending team. A 25-year veteran of Fannie Mae, Mr. Muir will focus on building out Greystone’s manufactured housing lending platform.
Mr. Muir most recently served as Director of Multifamily Credit/Underwriting at Fannie Mae, responsible for a 12-state Southeast Region, with a dual role in having developed and managed the manufactured housing community (MHC) lending platform at the GSE. Mr. Muir managed the MHC platform at Fannie for over 15 years, overseeing over $10 billion in financing for this asset class.
Mr. Muir, who reports to Joe Mosley, Executive Vice President of Fannie Mae and Freddie Mac Lending, will work closely with the Origination Team to identify lending opportunities with owners of manufactured housing communities.
“Jerry’s new role at Greystone is one that will elevate our capabilities in an asset class that’s seeing growing interest and activity,” said Mr. Mosley. “With Jerry’s credentials from over 25 years at Fannie Mae, his deep industry expertise and MHC industry knowledge gives Greystone an edge as we will boost this platform.”
“After a long career at Fannie Mae, the role at Greystone provided a unique opportunity to work across a range of lending platforms that are relevant to manufactured housing,” said Mr. Muir. “Having worked with the Greystone team for decades, it was a natural fit to help build the MHC business with a best-in-class group.
Greystone Development’s 14-story mixed-use building, The Aura, at 1501 SW 37th Ave in Coral Gables, has achieved a significant construction milestone, announcing it has topped off.
The Aura, a 96,550 square foot, 100-unit luxury multifamily development, designed by Borges + Associates Architects with a distinctive profile, features thoughtfully planned amenities, including swimming pool and spa, sun terrace, gym, lounge, and garage. The property is comprised of one- and two-bedroom units, each with private outdoor space. The approximately 6,400 square feet of ground floor retail shines with floor-to-ceiling windows and over 150 feet of frontage along Douglas Road, a highly trafficked retail corridor. Greystone Development has exclusively engaged The Diaz Team at CBRE to lease the retail portion of the property.
“This topping off marks our continued growth in South Florida,” said Jeffrey Simpson, Head of Greystone Development. “Greystone Development has developed more than 830,000 gross square feet in this market to date. Coral Gables and Miami are vibrant markets, and we look forward to expanding our presence.”
The Aura is ideally located within walking distance of Downtown Coral Gables, Miracle Mile and The Mile, a 120-unit luxury rental building developed by Greystone Development. In December 2015, The Mile was sold to a major national REIT for record pricing in Miami.
Greystone Development is also currently developing 2500 Biscayne Boulevard, a 20-story mixed-use property located near Biscayne Bay. Nearing completion, the property will offer 156 luxury apartments with 20,000 square feet of street-level retail in the Edgewater district of Miami.
Greystone, a New York-based real estate development, lending and advisory company, today announced that “On the Sound,” a newly constructed waterfront residential development on City Island, is now 75 percent sold. Perched upon five waterfront acres at 226 Fordham Place, On the Sound boasts 43 townhome-style condominiums within a private gated community. McClellan Sotheby’s International Realty, led by Sona Davidian, is exclusively handling sales for the community.
On the Sound features two-, three- and four-bedroom homes ranging in size from 1,407 square feet to 3,345 square feet with both private garage and driveway parking for each unit. Designed by Kutnicki Bernstein Architects, all units feature gas fireplaces, Carrera white marble accents, GE Profile stainless steel appliances, hardwood flooring and walk-in closets. Prices for the remaining available units range from approximately $718,000 to $968,000.
“Our goal is to create a truly one-of-a-kind community with elegant finishes, open water views and an intimate neighborhood feel – something that’s hard to find in the five boroughs,” said Jeffrey Simpson, head of Greystone Development. “On the Sound is a truly unique addition to the City Island area,” he added.
On the Sound units offer residents either a spacious private garden or elevated terrace. The community’s private amenities include a clubhouse with elevated terrace, outdoor pool, playground, and fitness center. Just outside the gated community is a new esplanade, providing beautiful vistas of the Long Island Sound and environs.
“The property is drawing in a mix of buyers ranging from current City Island residents, to downsizers from Westchester looking for condo living, to residents from the surrounding New York City area,” said Davidian. “This gorgeous waterfront community is surely going to be the jewel of one of the most unique and distinctive neighborhoods in NYC.”
For more information, visit www.cityislandliving.com.
