via The Staten Island Advance – For the 4th time this year, the developer of The Accolade in St. George has unveiled a professionally furnished model home to help showcase the wide range of floor plans and upscale living spaces offered at the new luxury condominium on Staten Island’s north shore waterfront.
With nearly $200 billion of private investment planned for Staten Island’s North Shore waterfront in the coming years, real estate developers are hoping to cash in on the boom, too. As Borough Reporter Amanda Farinacci reports, at least one new building is already attracting buyers who can’t wait for what’s in store.
There’s plenty to see from a fourth floor balcony of the Accolade, St. George’s newest condominium building set to open next month.
To the right is the Verrazano Bridge and to the left is the lower Manhattan skyline.
It’s that view, and the building’s closeness to the St. George Ferry terminal, that sold Hawaii native Jennifer Roar the moment she stepped inside.
“For the price and value compared to Manhattan, you couldn’t go wrong,” said Roar.
Roar has lived in various Manhattan neighborhoods for the last five years. She and her husband heard about the Accolade from her sister, who also bought a unit.
Her tour of the building was her first trip to Staten Island.
“A lot of people are like, ‘Staten Island?’ A lot of people say, ‘I’ve never been to Staten Island and I’m a New Yorker.’ So they’re a little hesitant, but what’s coming down the pipeline of new development, the waterfront, the restaurants and the ferry, it’s gonna be great,” said Roar.
The 101-unit building is the latest development drawing residents to Staten Island’s booming north shore. The apartments range from $300,000 to $1 million and a recent soft opening was so successful, developers already starting hiking prices.
“We were able to raise prices consistently. So I’ll say that, but I’ll also say that there’s still an excellent value to be had here,” said Angela Ferrara of The Marketing Directors.
“As the other things start to develop, the wheel obviously, and the shopping center, as those things develop I think it’s just going to get better and better,” said Sandy Krueger of Staten Island Board of Realtors.
The Accolade is neighbors with Bay Street Landing, another condominium apartment complex. The two buildings will share some amenities, as part of a plan to create a real sense of community along the waterfront.
That includes use of a dog run, basketball and tennis courts and an outdoor barbecue. Add that to a gym, a lounge area and children’s play room in a building that was raised to conform to new FEMA flood standards and Roar says there are plenty of reasons she can’t wait to call the Accolade home.
First Closings Scheduled for Fall
STATEN ISLAND, N.Y,– Modern, oversized residences with upscale finishes and appointments, an elaborate amenity offering, spectacular panoramic views, and a location within walking distance of the Staten Island Ferry and within close proximity to downtown Manhattan continue to attract buyers to The Accolade at the St. George waterfront.
More than 50% of the new luxury condominium building’s 101 residences have now been sold, with the first buyers scheduled to start moving in this fall.
“The Accolade features exceptional new homes and an amenity-rich, waterfront lifestyle that simply hasn’t been available in Staten Island before now,” said Jacqueline Urgo, President of The Marketing Directors, the company who was retained by Meadow Partners to market and sell The Accolade. “That opportunity alone has been enough to attract buyers, but they’re also embracing the vision of a larger north shore destination teeming with new shops, restaurants, recreation and hospitality. The success of the Accolade provides further proof that the dream for this untapped north shore waterfront is moving closer to a reality.”
Meadow Partners recently completed the extensive array of private amenities at The Accolade, revealing yet another tangible sign of the luxury condominium’s upscale lifestyle offering which is unrivaled in the Staten Island marketplace.
The newly-finished amenities include a marble-adorned attended lobby, expansive residents-only lounge featuring a bar, seating area, poker, Ping-Pong, foosball and pool tables; a private conference room, golf simulator, children’s playroom, and a state-of-the-art fitness center. The private amenities complement the building’s exceptional residences and waterfront location within the gated Bay Street Landing community in Staten Island’s St. George neighborhood.
Framed by spectacular panoramic views of the New York Harbor, Manhattan skyline and Verrazano-Narrows Bridge, The Accolade features a striking design that is beautifully integrated into the collection of architecturally-significant loft buildings within Bay Street Landing, which for years has attracted a mix of professionals, couples, families and empty-nesters. The gated community is set on 11 park-like acres and features such shared amenities as tennis courts, BBQ pits, children’s playground, on-site parking, dog run, professionally landscaped green spaces and 24-hour roving security.
Modern residences with expansive living spaces and upscale finishes and appointments have been designed for The Accolade to appeal to a variety of discerning buyers, with studios-to-three-bedroom floor plans ranging from 772 to 2,479 square-feet – including dramatic duplex Penthouse residences. Priced from $350,000 to over $1.2 million, the homes feature soaring ceiling heights, hardwood flooring, and kitchens with GE stainless steel appliances, Ceaserstone countertops with glass mosaic tile backsplashes, custom wood cabinets and Kohler fixtures. Baths are adorned with high-end stone floors and walls, custom vanity with marble top; a full-size tub and shower, custom vanities and Kohler and Hansgrohe fixtures.
“Almost every home offers private outdoor space and oversized windows, while many residences feature magnificent views that stretch from the Manhattan skyline to the Verrazano Bridge,” Ms. Urgo points out.
Other prominent projects poised to transform the underutilized waterfront into a premier residential and lifestyle destination include a one-million-square-foot mixed-use retail hub adjacent to the ferry, the 625-foot-tall New York Wheel, and the redevelopment of a three-acre pier into new retail, dining, hospitality and residential uses. And in nearby Stapleton, work is underway to redevelop the former Navy Homeport site into 30,000 square feet of street-level shops and restaurants which will combine with a new public plaza and a six-acre waterfront esplanade.
For more information on The Accolade, visit http://www.TheAccoladeCondos.com, or call 718-815-6500. The Sales Office is located at 90 Bay Street Landing, Residence 4B, Staten Island, NY 10301.
About Meadow Partners
With over 40 years of combined real estate experience, Meadow Partners brings the assurance of a reliable, well-funded ownership team that is firmly committed to the development and success of Accolade and the redevelopment of the Staten Island waterfront. Their demonstrated talent, long-range perspective, and financial strength has set to redefine the standards of quality and excellence of North Shore living.
About The Marketing Directors
The Marketing Directors is a development advisory and master property marketing and sales force that works exclusively on behalf of owners and builders of new homes. Headquartered in New York, with offices and sales teams active around North America, The Marketing Directors is known for its success in selling and leasing homes at prices that help its clients achieve their goals for each development. In its 30+ year history, The Marketing Directors has helped its clients successfully sell-out more than 1,000 new developments across the country – more than any other marketing firm. It is headed by founder Adrienne Albert and Jacqueline Urgo.
via Nicholas Rizzi/DNAinfo ST. GEORGE — The last of a set of luxury condominium high-rises that have stood empty around St. George’s waterfront since the recession plans to open its doors in the fall and has already sold almost half of its units.
The Accolade, a former dry cocoa warehouse in Bay Street Landing that was converted into a residential building, opened its 100-unit studio to three-bedroom condos for sale in March.
Sales exceeded expectations of developers Meadow Partners and real estate agent The Marketing Directors. “We’re really moving very quickly,” said Angela Ferrara, executive vice president of sales for the Marketing Directors. “We didn’t anticipate this level of excitement.” In the five months since they opened up for sales — priced between $322,000 to more than $1 million — the agency has sold 43 apartments, a surprise for a building that has been sitting empty and unfinished since 2009.
via Adam Bonislawski/ New York Post
Everyone loves a water view, but, as the saying goes, God isn’t building any more beachfront property.
And so, as New York’s waterfront has emerged from its industrial past as a prime location for residential real estate, builders have steadily moved farther and farther afield in search of new spots for development.
Lately, they’ve made their way to Staten Island.
The city’s least populous borough, Staten Island has often been an afterthought in discussions of New York real estate. But with several hundred million dollars in commercial and residential development slated for the area, the island — and its Manhattan-facing north shore, in particular — is having a moment.
“It’s part of the larger story of outer borough waterfront development,” says David Barry, president of Ironstate Development, which is in the midst of converting The Homeport, a former US naval base in the north shore’s Stapleton neighborhood.
The mixed-use development, named URL [Urban Ready Living], will feature 30,000 square feet of retail along with 900 rental apartments — studios from $1,600; one-bedrooms from $2,000; two-bedrooms from $2,700 — which will start leasing next summer. In addition, the city is investing $32 million for road improvements and a new waterfront esplanade at the site. Ironstate is also planning similar projects in Jersey City and Stamford, Conn.
“You’ve seen it in Brooklyn and Queens and Jersey City, and now Staten Island,” Barry says. “We’re in a period of time where waterfronts are turning over from industrial to residential, commercial and recreational — Staten Island is part of that progression.”
The Homeport development sits two railway stops south of the borough’s St. George neighborhood, home to the Staten Island Ferry terminal and the emerging epicenter of the island’s waterfront development.
Indeed, the waterfront district is where Triangle Equities’ plans to develop Lighthouse Point, a $200 million mixed-use project. Commencing this fall, it will include roughly 100 rental units, 85,000 square feet of retail, restaurant and entertainment space and a 160-room hotel.
Also in the area is Empire Outlets, a one-million-square-foot retail development by BFC Partners which recently won city council approval. Slated for completion in 2016, the project will include up to 125 outlet retailers as well as a 200-room hotel and 40,000 square feet of restaurant space.
And St. George is soon to be the home of the New York Wheel, a 630-foot-tall Ferris wheel that will be the tallest such structure in the world when it opens in 2016.
“We’re the last waterfront in the city to be developed,” says John Pitera, managing partner at Staten Island real estate firm Casandra Properties, leasing representative for Homeport and Empire Outlets.
“Prices are very reasonable, and projects like Homeport and Empire Outlets and the New York Wheel are huge draws for investors and residents.”
Casandra also handles leasing for The View, a 40-unit rental building from Madison Realty Capital at 224 Richmond Terrace, just north of the ferry terminal. The building finished leasing around eight months ago, Pitera says, with its one- and two-bedroom units going for between $1,700 and $3,800 a month.
The 224 Richmond Terrace site was originally owned by Staten Island developer Lieb Puretz, who launched a slew of residential projects for the St. George waterfront during last decade’s real estate boom, but had to sell in the aftermath of the 2008 crash.
Puretz might have been a bit too far ahead of his time, but more recent developments, like Meadow Partners’ Accolade building, are going great guns. The condo building in the gated Bay Street Landing complex is due to open this fall and officially launched sales last month, by which time it had already sold roughly 30 percent of its 101 units pre-construction. Prices for studios, one-, two- and three-bedrooms range from $325,000 to over $1 million.
With features like a fitness center, pet spa, children’s playroom and golf simulator, the development offers a “lifestyle package on par with buildings in Manhattan or Brooklyn,” says Jackie Urgo, president at The Marketing Directors, which is handling sales for the building.
And then, of course, there’s the matter of money. Prices in the building average around $330 per square foot, less than a quarter of the $1,364 per square foot Manhattan apartments averaged in the first quarter of 2014, according to numbers from appraiser Miller Samuel.
The promise of a bargain lured John Tully and his wife, Laura, to Staten Island. Currently renting a one-bedroom in Greenwich Village, the couple decided to buy a two-bedroom at the Accolade after surveying prices around the rest of the city.
“We love [Greenwich Village], but real estate prices in Manhattan have gotten pretty high,” Tully says, noting that Brooklyn prices have hit similarly stratospheric levels.
“Once we visited, we were pretty impressed,” he says. “The proximity to the ferry, the unobstructed waterfront views, the amenities — and most importantly we saw it as a good investment opportunity for our first [home] purchase as a married couple.”
It didn’t hurt, Tully adds, that his wife is originally from Staten Island. “So we knew the area well and were comfortable with the surroundings.”
Tully, who works in finance, says he’s reasonably comfortable with adding a ferry ride to his daily commute to Midtown. While it certainly won’t be as convenient as his current downtown situation, he expects he’ll be able to make it from the Accolade to his office in under an hour.
And Staten Island Ferry service — the lone mass transit link between the island and the rest of the city — is expanding. Last month ferries began running every half-hour on weekends until 2 a.m. Previously it had shifted to hourly service after 7 p.m. Beginning May 1, 2015, service is scheduled to increase to at least every half-hour around the clock, seven days a week.
Also expanding are local shopping options, notes Lester Petracca, president of Triangle Equities. In addition to lining up amenities such as restaurants and dinner theater aimed at ferry-going tourists, his firm’s Lighthouse Point project is currently targeting several supermarkets and drugstores as potential retail tenants.
For his part, Tully says he’s looking forward quaffing a few beers at Flagship Brewing Company, a Staten Island tap room and brewery that opened last month at 40 Minthorne St., a short walk from his new home.
He notes, though, that for him the appeal of Staten Island’s north shore is at least as much a matter of anticipation as it is the area’s current reality.
“It’s more the outlook of what’s to come than what’s already there,” Tully says.
This has been a punishing winter for New Yorkers. Not the schizo temperature shifts (although, we concede, those weren’t exactly fun, either) — we’re talking about the lack of available residential real estate. According to the fourth quarter 2013 reports by appraisal firm Miller Samuel, NYC was at its lowest level of inventory in 14 years.
But the punishment is hereby over. The new condo projects that developers had been hoarding all winter are springing up from Staten Island to Brooklyn to the Upper East Side. Here are a baker’s dozen to look forward to:
The Accolade, Staten Island
Hear, hear! The Accolade, a 100-unit condo, will join the burgeoning north waterfront development boom in St. George, where new shopping, restaurants, residences and an esplanade are planned.
Set in the gated Bay Street Landing community, the 10-story building is made up of studios and one-, two- and three-bedroom units — plus eight duplex penthouses — ranging from 772 to 2,479 square feet and priced from $300,000 to more than $1 million. The homes feature high ceilings, oversized windows, hardwood floors, kitchens with custom wood cabinetry and Kohler fixtures and stone and marble bathrooms.
Most units offer private outdoor space; many have spectacular views of Manhattan and the New York Harbor. Amenities include a residents’ lounge with a bar and catering kitchen, Ping-Pong and billiards tables, a golf simulator, fitness center and screening room. Sales will launch in the next couple weeks; occupancy is slated for summer 2014. Contact: Sales office, 718-815-6500
More on the SI real estate scene. Tracey Porpora reports for The Staten Island Advance.
Many former Staten Islanders are being drawn “back home” by the North Shore waterfront’s urban environment.
“I have a growing family, with new twin boys and a daughter, so (Manhattan) is getting too small. My wife and I looked at different areas, and prices in Manhattan are out of control,” said Patrick McCarthy, 34, a West Brighton native who is relocating from Manhattan’s upper Upper West Side to The Accolade, a condo complex in St. George’s Bay Street Landing.
“My wife and I looked at Brooklyn, where the prices were good a few years ago, but now the prices there are just as high as Manhattan,” added McCarthy, who noted his wife is a native of California.
The mortgage loan officer said St. George is appealing to him because he wants a short commute to his job in Midtown, allowing him to spend less time traveling to work and more time with his family.
“I can live in The Accolade and take a two-minute walk to the ferry, hop on and get to work in less than an hour,” said McCarthy.
Meadow Partners and The Marketing Directors announced today that 60% of The Pointe’s luxury condominium residences have been sold, signaling another marker of success for the boutique building conveniently situated just steps from the Staten Island ferry terminal in St. George.
The new milestone was reached after three new sales were recorded last week at the six-story building located at 155 Bay Street on Staten Island’s burgeoning north shore. The steady sales pace reflects the widespread appeal of The Pointe, which features expansive condominium residences, desirable outdoor space, spectacular views of the St. George waterfront and Manhattan skyline and attractive prices.
Available one- and two-bedroom residences range in size from 962 to 1,255 square feet of living space at prices starting from $340,000, with immediate occupancy available. The building is approved for FHA financing and has a 421a tax abatement.
“We’re delighted to have reached this point in our sales program,” notes Jacqueline Urgo, President of The Marketing Directors, which was retained by Meadow Partners as The Pointe’s exclusive marketing and sales agent. “We’re delivering a unique living experience in a convenient waterfront location that’s on the rise, and both the marketplace and brokerage community are responding favorably.”
Residents of The Pointe enjoy a lifestyle rich in luxury and comfort. The modern, brick building features an elegant attended lobby, stylishly designed with marble flooring, artistic stone borders and custom wall coverings.
Design distinction and comfort extend to the residences as well, which feature top-of-the-line stainless steel kitchen appliances, sumptuous baths adorned with high-end stone and ceramic tile, a full-size washer and dryer and abundant closet space. Hardwood floors are complemented by the exceptional palette of interior finishes. Each home also offers private outdoor space, while the building features an expansive common landscaped terrace – all of which maximize the spectacular views of the Manhattan skyline and Hudson River. Onsite garage parking is available.
Homeowners at The Pointe also enjoy the added convenience and long-term benefits associated with the operation of the building thanks to My Green Condo, a unique online management platform offering tools for condominium associations to carry out all their management responsibilities in an efficient and effective manner, while also facilitating and promoting a green environment.
The Pointe’s location in an area targeted for major reinvestment, including new retail and recreational attractions, is also resonating with buyers. Fine Fare Marketplace is scheduled to open in April in the base of The Pointe, featuring a full line of groceries, gourmet deli, bakery, full-service fish and butcher shop and a grab-and-go prepared foods section. Other neighborhood enhancements include the recent announcement to develop a 350,000 square-foot mall consisting of 100 retail outlets and the transformation of the former U.S. Lighthouse Depot into a $140-million waterfront enclave featuring stores, restaurants, a hotel and housing. And in nearby Stapleton, work is underway to redevelop the former Navy Homeport site into 30,000 square feet of street-level shops and restaurants which will combine with a new public plaza and a six-acre waterfront esplanade.
For more information on The Pointe, visit www.OwnThePointe.com, or call 718-815-0155 to make a private appointment to view the new spacious one- and two-bedroom homes.
About Meadow Partners
With over 40 years of combined real estate experience, Meadow Partners brings the assurance of a reliable, well-funded ownership team that is firmly committed to the development and success of The Pointe and the redevelopment of the Staten Island waterfront. Their demonstrated talent, long-range perspective, and financial strength has set to redefine the standards of quality and excellence of North Shore living.
About The Marketing Directors
For more than 30 years, The Marketing Directors has been the preeminent development advisory and marketing and sales force in luxury residential development. Its team works exclusively on behalf of elite owners and builders of residential housing to develop, market and sell customized, architecturally-superior spaces. The Marketing Directors’ sophisticated professionals are industry leaders, respected partners and market innovators. Headquartered in New York City with offices and sales teams across North America, The Marketing Directors has $30 billion in collective sales and has led its clients to successfully sell out more than 1,000 new developments. Past projects include The Sheffield, Linden78, Platinum and The Visionaire. For more information on The Marketing Directors, call 212-826-8822 or visit www.themarketingdirectorsinc.com