Projected costs for units in the luxury condominium complex being built on the site of the former Bulova Watchcase Factory were revealed last week by Michael Daly, an associate broker at Sotheby’s International Realty in Sag Harbor.
In an email sent out on Wednesday, December 12, Mr. Daly included price-range figures for the units, which is the first time such precise information has been made publicly available for the biggest construction project in Sag Harbor, now taking shape. Though the figures were released by Mr. Daly, the Watchcase project is listed with The Corcoran Group’s Sunshine Marketing Group, according to Joey Arak, public relations manager for Watchcase. The local real estate sales team of Cee Scott Brown and Jack Pearson hold the listing, he said.
In his email, Mr. Daly reported the most recently quoted prices for the units were: a one-bedroom unit would range from $710,000 to $2 million, a two-bedroom unit from $1.5 million to $5.5 million, a three-bedroom unit would range from $2.4 million to $10.2 million, a townhouse would range from $3.5 million to $6.5 million; and two townhouses with four or five bedrooms would range from $4.3 million to $4.4 million.
The figures were confirmed as accurate, though subject to change, by Mr. Arak on Friday. Additionally, Mr. Daly provided examples of estimated monthly common charges and taxes, as provided by the developers. Those figures were also confirmed by Mr. Arak.
According to the data provided by Mr. Daly, a $1.1 million one-bedroom unit could have a common charge of $668 per month and taxes of $135 per month. A $4.5 million two-bedroom penthouse could have a $1,982 per month common charge and $401 in taxes per month. A $6.5 million four-bedroom townhouse could have a common charge of $4,046 per month and monthly taxes of $816 per month. A $7.8 million two-bedroom townhouse could have a $2,900 per month common charge and about $586 a month in taxes. A $10.2 million three-bedroom penthouse could have a $2,877 monthly common charge and $582 in monthly taxes, while a $2.9 million two-bedroom unit with a terrace could have a common charge of $1,936 per month and $391 in taxes.
According to Mr. Arak, the developers, Cape Advisors, anticipate having a fully furnished model ready for viewing by April.
The complex, when complete, will have 64 units. The main building will feature loft, townhouse and garden residences—ranging from studios to four- and five-bedroom units, while eight bungalow units will be on Sage and Church streets. The townhouses, ranging in size from more than 3,000 square feet to just under 5,000 square feet, are being built on the outer ring of the site and are not part of the former factory building. Sky-high penthouses will each sport a private rooftop terrace, and ground-floor residences with each feature private outdoor space in a courtyard.
Though the original plans included an indoor swimming pool, the plans were scrapped in favor of an outdoor pool. The facility will also include a fitness center, a yoga and aerobics studio, a sauna and underground parking, among other amenities.
For more information on the progress of the site, visit watchcasefactory.com.