DUMBO Debut for Greystone
Eye On Real Estate: Developer Sees Upside in Rental Apartments
Greystone is the new kid on the block in DUMBO, and a busy block it is.
The Manhattan real estate investment development and financial services firm decided to go with rental apartments for its neighborhood construction debut.
Bulldozers are digging the dirt at its 47 Bridge St. site, where a seven-story, 27-unit building will rise.
“There aren’t many new rental properties in the DUMBO area; rentals are still doing really well, so the demand is still high,” said Jeffrey Simpson, CEO of Greystone Property Development.