Home Buying in Staten Island>Question Details

Bill D., Home Buyer in 10301

St George Luxury Condo Buildings: What's happening with them?

Asked by Bill D., 10301 Thu Sep 8, 2011

What has happened with the 3 new luxury condo buildings down here in St George??
The Point (intersection of Bay st and Victory blvd.)
---Seems to have 2-3 occupants in the entire building.
---It's been open for a long time, was supposed to have a Walgreens at the bottom, but never happened

The View (corner of Nicoloas and Richmond Terrace, a little past SI Yankees Ballpark)
---Looks gorgeous and has remained closed and apparently vacant for 3 years
---Is it not finished?

The Blue Bay Street Landing
---I had heard the developer went bankrupt
---I assume that this will be lovely inside as well, but can never find any info or pics

Can some people maybe talk about what has happened or what will be happening with these buildings?
I feel like St George could be really great. It is the last undeveloped piece of real estate bordering Manhattan.
I feel as though St George has kind of stagnated, the fact that these buildings sit closed and/or unoccupied, I believe contributes to the situatn

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Answers

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New York, NY, September 27, 2011 - PCCP, LLC announced today it has provided $24 million in two loan structures to a private institutional investor for the refinance and construction completion of 155 Bay Street and 130 Bay Street Landing, two residential condominium properties totaling 153 units. The properties are located within blocks of each other and are in the St. George area on the northeast coast of Staten Island, NY.
“PCCP recognized the value of the opportunity to originate two loans for these well-located properties to a successful investment management firm who understands the local market,” said John Randall of PCCP, LLC.
The properties are located on Staten Island’s North Shore waterfront, with unobstructed views of Manhattan, Brooklyn, and New Jersey. They are within walking distance of the Staten Island Ferry, which offers direct, 30-minute access to Manhattan, and the Tompkinsville Staten Island Railroad station which provides access to the southern portion of Staten Island.
155 Bay Street is nearly complete and is a six-story ground-up development that is comprised of 52 units of a 57-unit condominium property (five units have been sold) with 19,000 square feet of ground floor retail space and two levels of below-grade parking containing 108 spaces. The first floor contains a retail area and the residential lobby, with one- and two-bedroom residential units on the second through sixth floors. Located at the intersection of Bay Street and Victory Boulevard, the property is situated one block from the water, providing water views from many of the units in the building.
130 Bay Street Landing is approximately 75 percent complete and is a 101-unit, warehouse conversion and redevelopment project consisting of approximately 132,500 square feet of residential space, 4,000 square feet of community space and 197 planned outdoor parking spaces. On-site amenities will potentially include a gym, library, game room and storage area. Prior to its redevelopment, the property was a dry storage cocoa warehouse. The six-story warehouse has since been converted with three additional floors being added.
Web Reference: http://www.clovelake.com
1 vote Thank Flag Link Mon Oct 3, 2011
Web Reference: http://www.clovelake.com
1 vote Thank Flag Link Mon Oct 3, 2011
Didn't mean to cause a stir. I see its not listed on MLS, but it is still on Casandra Realty's website. http://www.casandraproperties.com/
0 votes Thank Flag Link Mon Oct 3, 2011
Hello Bill, if Gennady knows where those buildings are listed and active I and many other Realtors here would also like to know. Maybe Gennady could share that information here on Trulia.
Web Reference: http://www.clovelake.com
0 votes Thank Flag Link Sat Oct 1, 2011
Hello Bill,

To my knowledge, the second two buildings, (The View and Blue Bay St.) are both listed and active. There have been rumors that the buildings may have been trying to convert from condos to rentals, but It could be speculation. I am a big fan of "The View."

I will look into it further. If you have any specific questions, you can call me at 646-269-9260. I could keep you updated on the developments. All the best. -Gene
0 votes Thank Flag Link Sat Oct 1, 2011
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