God developers said, "Let there be condos... and rentals." As part of their doffing of mass amounts of Brooklyn real estate, the Jehovah's Witnesses put 177 Front and 200 Water streets in Dumbo on the market in 2012. Fast forward to today, and now-owners Megalith Capital Management and Urban Realty Partners are turning both those buildings into apartments for the agnostic or otherwise. The developers just secured $100 million in financing for the two conversions. For 200 Water, here's the intel: they'll add two Landmarks-OKed penthouse floors on top of the existing four-story warehouse; the building will house mostly three-bedroom condos; and amenities will include public and private outdoor space, a doorman and a gym.
As for adjacent 177 Front Street, it'll be reborn as a 12-story structure with 105 rentals. The apartments will be one-, two-, and three-bedroom with public and private outdoor space, a doorman, a fitness center, a bike room. and a children's playroom. As per previous reports, they will probably lease for $2,000 to $3,000 per month. Some of the apartments will be designated affordable, and the building is set for completion in 2016.
Both buildings will be designed by Ariel Aufgang's Aufgang Architects. The photo, above right, pictures the back of 200 Water Street after Aufgang's design was approved by Landmarks last year.
· 200 Water Street (Dumbo) and 177 Front Street coverage [Curbed]
· All Watchtower coverage [Curbed]