Back in 2012,Megalith Capital ManagementandUrban Realty Partnersbought two neighboringDUMBOsites from theJehovah’s Witnesses for more than $30 million. They then tappedAufgang Architectsto design both warehouse conversions: a landmarked former Brillo factory at200 Water Streetwas transformed into 15 boutique condos;181 Front Streetinto a 105-unit rental. Twenty percent of apartments in the latter development are reserved as affordable, and as of Friday, New Yorkers earning60 percent of the area median incomecan apply for these21 units, which range from$895/month one-bedrooms to $1,247/month three-bedrooms.
Live in DUMBO for $895/month
Amenities at 181 Front Street include a 24-hour doorman, rooftop space, bike storage and parking.