By Jeffrey Steele, Contributing Writer
New York—Sales are scheduled to begin this summer at Forty2East, a new six-story, 53-unit condominium in Brooklyn’s Williamsburg neighborhood.
The announcement was made by the Bondee Group, which also revealed New York City real estate brokerage apsandlofts.com will serve as exclusive sales and marketing agency for the property. It is located between Kingsland and Bushwick Aves. at the intersection of Conselyea St. and Maspeth Ave.
“When the property was acquired, the developers were not sure whether to build condominiums or a rental building,” aptsandlofts.com founder and president David Maundrell told MHN. “They did examine it both ways, and ultimately decided that condos would be best. Strong market conditions, a lack of inventory and high demand in Williamsburg for condos were all contributing factors.”
Designed by Christopher V. Papa, Forty2East is situated just a block from Cooper Park and near an array of transit alternatives, among them the L and G subway lines. That proximity makes commutes to Manhattan very convenient. The location also puts the property between Williamsburg, Greenpoint and Bushwick, arguably three of today’s most talked-about New York City enclaves.
“The developer, The Bondee Group, is very detail oriented,” Maundrell said. “They did another job in Astoria where they sat on the board and are still managing the building, which is very rare for a developer. They have a great track record in terms of development, which helps them set the building apart. Additionally, the finish level is unique, the modern interiors are aesthetically pleasing and the industrial red brick exterior makes this building one of a kind.”
The property presented itself as a perfect fit, said Cristom Construction president Tom DeVito. “The owners knew of us from our industry reputation, mutual contacts and previous business dealings,” he added.
“We knew that the quality of our construction combined with what this building will offer in layout, functionality and design, would resonate well with potential residents in Williamsburg. Everything we build, we design and build to last, and this building will stand the test of time.”
One of the most watched real estate brokerages handling new development in the city is aptsandlofts.com, Maundrell said.
“Most of our work is in the boroughs, so we know the market best, especially when it comes to Brooklyn,” he added. “Additionally, we helped design all of the layouts, and did all the marketing in house. We are an ‘all-in-one’ type of shop, which made the developers feel comfortable, knowing we would market the building in the best way.”