Every last single one of the units at 550 Metropolitan Avenue has been sold, announced Arch Companies on Friday. The property is a newly constructed boutique luxury residential condominium development in Williamsburg, Brooklyn.
The building was completed in late February and closed on its last unit by mid-June. The boutique condominium offers one-to-three-bedroom residences with private and common outdoor spaces.
Amenities include a package room, a virtual doorman system and a common rooftop deck with a summer kitchen and skyline views. The units have sold for prices ranging from $1 million to $2.7 million.
The residences are located in a prime area of the high-growth market of Williamsburg, only two subway stops into Brooklyn from Manhattan, providing buyers with walkable access to one of Brooklyn’s trendiest neighborhoods as well as quick access into major employment centers.
The dynamic Williamsburg neighborhood is known for its iconic shopping and dining options, cutting edge entertainment and arts, vibrant and creative nightlife and notable parks such as Domino Park and McCarren Park.
“It is exciting to see our business plan come to life,” said Jeffrey Simpson, managing partner at Arch Companies. “Thanks to our dedicated team, we were able to develop a high-quality product and attract buyers in an expedited and efficient manner.”
Additionally, the building has ground floor retail space that will be home to Kini, a boutique wine-tasting room featuring locally made wine. Construction of Kini is underway and it is expected to open to the public later this year.
