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Greystone Makes First Foray Into Hamptons Residential Development With Boutique Sag Harbor Project

NEW YORK, Aug. 25, 2015 (GLOBE NEWSWIRE) -- Greystone, a New York City-based real estate development and advisory company, today announced it has formed a joint venture with East End Ventures to develop a boutique residential project in the village of Sag Harbor on Long Island. The property will feature artful landscape architecture intended to amplify the beauty of the exclusive waterfront property.

Located at 1, 3, and 5 Ferry Road, the planned condominiums are situated on the last undeveloped waterfront land adjacent to the Business District in Sag Harbor. The residences will be built as-of-right according to local zoning allowances and also provide the broader community with access to the waterfront.

"We really feel our boutique luxury aesthetic is beautifully aligned with the intentions for this residential development," said Jeffrey Simpson, head of Greystone Property Development. "Working closely with East End Ventures and the Village of Sag Harbor, we will be able to advance this highly anticipated condominium addition to become one of the most sought after residential locations in the Hamptons."

Greystone, which has developed over $1 billion in residential and mixed-use properties to date, brings its expertise in chic residential development to the Sag Harbor project. The company has an impeccable track record on projects including luxury condominiums in Manhattan, Brooklyn, and Miami, FL. Greystone's experience includes development of waterfront properties, exquisite restorations of landmarked buildings in historic communities, and working closely with the communities in which it builds to ensure each project both complements and enhances its local surroundings.

Michael Maidan, Principal, East End Ventures, commented, "We are thrilled to team up with Greystone to bring this project to life, and know that their expertise, resources and input will be invaluable as well as essential to the success of this development."

About Greystone

Greystone is a real estate lending, investment and advisory company headquartered in New York. Its property development group creates boutique luxury rental and condominium residences and prime quality commercial spaces in gateway cities such as New York and Miami, FL. For more information, visit www.greystonepd.com.

CONTACT: PRESS CONTACT: Karen Marotta Director of Communications, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone