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ODA's Redesign of 51 Jay Street Will Look Like This

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ODA Architecture has released a set of renderings on its website of residential conversion 51 Jay Street (alternately known as 201 Water Street), a three-story industrial building that Silverstone Property Group Slate Property Group and Adam America are turning into a six-story building with 85 to 90 74 apartments. The renderings, spotted by BuzzBuzz Home, display lots and lots of windows as well as what looks to be a two-story penthouse with a private terrace. (UPDATE: ODA has removed the renderings from their website, with a rep explaining that they were accidentally posted too early and are preliminary designs. Keep in mind that the ones presented here, captured before the removal, may not look like the final product.)

The developer bought the property last year from Rabsky Development, paying $45 million. Rabsky had, in turn, purchased it for $25 million in 2012 and actually had plans in place for its own conversion, with infamous architect Karl Fischer at the helm, before the sale. Since they ended up making a $20 million profit after owning the building for a year, though, it seems like things worked out pretty well for all parties. Except Karl Fischer. But, you know, he's still got plenty going on.

UPDATE: The developer of 51 Jay Street is Slate Property Group, along with Adam America. Curbed previously reported that the developer was Silverstone Property Group. Martin Nussbaum acquired the property last year with Silverstone before he formed Slate, a new real estate investment firm. Curbed regrets the error.

· ODA-designed 51 Jay Street in Dumbo shows itself [BuzzBuzz Home]
· 51 Jay Street [ODA]
· 201 Water Street coverage [Curbed]
· ODA coverage [Curbed]
· Silverstone Property Group coverage [Curbed]

201 Water Street

201 Water Street, Brooklyn, NY 11201