Developer Alloy is purchasing 42 Jay Street and 50 Jay Street from nonprofit Phoenix House which has been offering substance abuse treatment services in DUMBO. According to the Real Deal, it is purchasing two interconnected buildings for more than $50 million. The building at 50 Jay Street stands five stories tall, while the building at 42 Jay Street stands seven stories tall.

Plans have been sent to the Landmarks Preservation Commission for a redesign which would reintroduce period-appropriate windowing, cleaning of the façade, and additions to both rooftops. 46 condos will be created, averaging 1,850 square feet. Residents will have a lobby, courtyard, fitness center, accessory storage, and laundry in each unit.

Photo: Renderings by Alloy