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Greystone Fires a Shot Across Sag Harbor Village’s Bow

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Going ahead with One Ferry Road

Today, Greystone Development announced that they have closed on 2 West Water Street in Sag Harbor (yes, the 1-800-LAWYERS building). They paid $4.94M for the property, which once wanted a slightly hilarious $12M. Greystone, along with partner East End Ventures, plans a condo development on the land and contiguous land it owns called One Ferry Road.

Yeah, so? So Sag Harbor Village recently announced plans to create a park named after John Steinbeck on the land. Not so fast, says Greystone. "We remain deeply committed to the completion of this project and are looking forward to creating a beautiful addition to the waterfront landscape in Sag Harbor," said Jeffrey Simpson, head of Greystone Development. "We have assembled an incredible team to bring this development to life and are thrilled with the projected outcome for our first Hamptons project."

The development will "include a staggered row of single-family houses evoking a typical early 19th-century whaling village streetscape." The existing building "will be reinterpreted from the inside-out." Each unit will have a porch suitable for dining and entertaining facing the water, individual garages, and there will be roof-deck pools.

Your move, Sag Harbor.