Megalith Capital Management and Urban Realty Partners announces 200 Water Street has more than 50% of units in contract

Boutique Luxury Condominium Reimagined by Gil Even-Tsur Architecture Workshop and Aufgang Architects Reaches Milestone Less Than Five Months Since Launch

Megalith Capital Management and Urban Realty Partners today announced that, 200 Water Street, a six-story boutique residential building in Brooklyn’s historic DUMBO neighborhood, has more than 50 percent of its units in contract since its launch in September 2015.

Previously housing a 1950s Brillo steel wool factory and a Jehovah’s Witness center, 200 Water features 15 gallery-style residences boasting two, three and four sunflooded bedrooms with expansive windows and up to 14-foot-high ceilings. Halstead Property Development Marketing is the exclusive sales and marketing agent for the project. Since launch of sales, more than 50 percent of the units are in contract with the remaining available units starting at $2.85 million.

“Its unique architecture, prime location and modern amenities have resulted in 200 Water Street selling at an accelerated pace,” stated Sam Sidhu, CEO and founder of Megalith. “The housing market in Brooklyn continues to thrive and we are excited with the enormous amount of interest 200 Water Street has generated so quickly.”

“The interest we are getting demonstrates that we are providing one of the ultimate luxury living experiences not just in DUMBO but in Brooklyn,” said Shelly Listokin, Principal of Urban Realty Partners.

With its unique past, 200 Water Street presented an opportunity for Gil Even-Tsur’s Architecture Workshop and Aufgang Architects to breathe new life into a historic industrial building. Their redesign makes significant changes to the building’s interior structure and use while respecting its landmark status and appearance. The building’s history is referenced by the use of brick, concrete and steel, with meticulous interior detailing that updates the original structure. The exterior’s transformation re-proportions the building’s structure and incorporates a two-story set-back modern glass addition, creating 200 Water Street’s contemporary profile.

The building’s penthouses feature roof decks, terraces and floor-to-ceiling windows, and the limited number of residences creates an enticing sense of intimacy. Amenities include a fitness center, landscaped garden, bike storage, access to parking, and a doorman to provide both security and exclusivity. Common areas have a deliberate industrial feel, with polished concrete floors and high ceilings allowing for light and shadow to fall. In the apartments, oak-planked floors glow, and while the concrete walls are covered, the architect left reveal details between the walls and the floors to provide glimpses of 200 Water Street’s underlying structure.

200 Water Street is located in one of Brooklyn’s most desirable and thriving residential neighborhoods known as Dumbo, an acronym for “Down Under the Manhattan Bridge Overpass.” Dumbo has New York City’s highest concentration of technology firms by neighborhood and offers spectacular views of both Brooklyn and Manhattan bridges and the Manhattan skyline. 200 Water Street’s residences are exceptionally suited to homeowners who appreciate subtle and harmonious refinements with the amenities and benefits of life in a historic waterfront neighborhood.

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About Megalith Capital Management: Megalith Capital Management is a residential real estate owner and developer focused on investments in New York City and urban, supply-constrained markets. The firm’s integrated platform specializes in the acquisition, development, repositioning and management of residential properties through opportunistic and value-added strategies. Megalith’s growing portfolio is comprised of approximately one million square feet of acquired assets and luxury condominium and mixed-income multifamily rental developments with a total pro forma transaction value in excess of $1 billion.