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Watchcase development finds buyers, with 70 percent of condos sold

Condos in the new Watchcase development in Sag

Condos in the new Watchcase development in Sag Harbor are being snapped up quickly, and its now 70 percent sold, according to the projects developers. Photo Credit: The Corcoran Group / Michael Heller

Condos in the new Watchcase development in Sag Harbor are now 70 percent sold, say the project's developers.

As of May 21, sales of 13 of the 63 units have closed, including eight of the 14 penthouses, with prices ranging from $710,000 to $5.5 million. Many more are in contract, says David Kronman, a partner and senior executive Cape Advisors Inc., the developer of Watchcase.

The development includes town houses, penthouses and the Factory Lofts. The lofts, which Kronman says are 80 percent sold, have exposed brick walls and ceiling beams inspired by the building's former life as the Bulova Watchcase factory.

Kronman says small details, including pieces of granite from the factory's vault used as decor throughout the property, adds a special quality that has attracted buyers.

"People respond to the authenticity of the project rather than it feeling like just another house thrown up," Kronman says.

The units range in price from $2.85 million to $10.2 million and include access to resort-like amenities, including a heated outdoor pool with beverage service, a fitness studio and private spa treatment room, and concierge services. A lounge decorated by interior designer Steven Gambrel is available for functions, and Gambrel is also on hand to work with residents on decorating their units.

Craig Wood, co-founder and co-managing partner of Cape Advisors, says most buyers are people downsizing from larger Hamptons homes.

"People want to come out and not have to worry about dealing with any of the headaches that people have to deal with," Wood says.


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