Sheepshead Bites excerpts -
The developers behind the 30-story residential tower slated for 1501 Voorhies Avenue
are envisioning a luxurious haven for the area’s wealthiest residents,
housed behind a gated entrance on Sheepshead Bay Road and with units
starting at $700,000, Sheepshead Bites has learned.
The price is not for the weak of wallet. Our sources said that units
are designed to be comparable to the Oceana Development, and will begin
at $700,000 for a one-bedroom. One attendee told Sheepshead Bites that
prices are based on a $700 per square foot rate, though this couldn’t be
confirmed by others in attendance (most of the details shared here were
corroborated by multiple sources). None of our sources could provide
the proposed price for the building’s most expensive units, but at the
Oceana they were marketed for approximately $2.1 million when the
building first opened.
All of our sources say that the building will be split between
rentals and owned condos, with Muss selling the condos and AvalonBay
managing the rental properties. One of the sources said the bottom
two-thirds of the building will be rental, while the top third will be
owned condos. No proposed rates were given for the rentals.
The developer told attendees they expect to begin construction by spring 2015 if all goes smoothly.