Aberdeen Realty Group made a similar bet in 2012, when it acquired a rental complex of townhomes off Milbank Avenue, and refurbished it into a 17-condo project now called Milbank Court. Homes at the development, where the final two sales will be completed this month, started at $1.8 million for a 2,665- square-foot unit.
Later this month, developer Belpointe expects to begin sales on nine condo units yet to be built on Sound View Drive. The company plans three units per floor in a three-story building, which will also include amenities such as a doorman, concierge and gym, said Brandon Lacoff, managing director.
Prices range from $2.2 million for a 2,088-square-foot apartment on the first floor to $2.95 million for a 2,278- square-foot penthouse, according to sales documents.
The pricing is aimed at the most active parts of the Greenwich sales market -- homes under $3 million and properties that are new and require no renovation, said Joanne Mancuso, the Houlihan Lawrence broker marketing the site.
“The timing for this project is perfect,” she said.