The Pointe on Staten Island’s north shore waterfront is quickly approaching the 50% sold mark, an impressive milestone for the new luxury condo at 155 Bay Street near the Staten Island Ferry Terminal.
A number of buyers have already moved in to the building, a collection of 57 one- and two-bedroom units all with outdoor space that give residents Manhattan views that rival anything along the Gold Coast. The homes are priced from the $300,000s, with immediate occupancy available.
And, says Jacqueline Urgo, president of The Marketing Directors, as both the rental and sales markets have begun to tighten, buyers are starting to take more notice of the oft-overlooked ‘other’ island.
“The sales success of The Pointe demonstrates the widespread appeal and exceptional value of this unique residential offering,” said the president of The Marketing Directors, which was retained by Meadow Partners, the international real estate investor and asset manager, as the building’s marketing and exclusive sales agent.
“A commuter-friendly location with convenient ferry service to downtown Manhattan, spacious homes with upscale finishes and appointments, and a price point that has all but disappeared from the New York City new construction marketplace are proving to be a winning formula here.”
The new residents at The Pointe run the gamut of buyer types — from current renters looking to move up to homeownership to empty-nesters interested in a more manageable, maintenance-free lifestyle.
“The availability of immediate occupancy allows us to quickly move buyers from purchase to move in, an advantage that has gained favor with the public, particularly renters who are ready to make the move to home ownership,” Urgo points out.
While much of the success of The Pointe is being attributed to its location and price, also resonating with buyers is the renewed interest and reinvestment in the Pointe’s St. George location — known as the “gateway” to Staten Island — and adjacent north shore waterfront neighborhoods.
Already home to the St. George Theater and Staten Island Institute of Arts & Sciences, the waterfront Richmond County Bank Ballpark (home to New York Yankees’ class A minor league team) a children’s museum and botanical garden, the area has a wave of new projects on the drawing board or already underway.
The former U.S Navy Home Port site in New Stapleton is currently being transformed into a “destination centerˮ with 30,000 s/f of shops and restaurants and a new plaza. The City is also investing $32 million on a new six-acre waterfront esplanade.
“Our buyers recognize the activity taking place in and around St. George and see an exciting future for this neighborhood,” Urgo says. “They understand the potential appreciation in home values in what is already a wonderful community, and they’re acting on it.”
The Pointe is a modern, six-story brick building with an attended lobby and a variety of one- and two-bedroom homes furnished with stainless steel kitchen appliances and a full-size washer and dryer. Parking is also available.