Riverhead’s First Luxury Residential Building Filling Up With Tenants

The Shipyard, Riverhead
Courtesy of G2D Group

The Shipyard, a new four-story residential building in downtown Riverhead, began to accept tenants earlier this summer. The contemporary building at 331 East Main Street holds 36 luxury units, offering modern amenities. Located at the end of the River Walk, apartments even include private balconies with views of the Peconic River.

There are studios, one-bedroom and two-bedrooms available. Prices range from $2,500 to $5,800 depending on the size of the apartment and whether it is furnished or not — furnished apartments even come with kitchen cabinets stocked with plates and utensils.

The first project in Riverhead developed by the Huntington-based G2D Group, known for luxury apartments in western Suffolk and Nassau counties, premium finishes can be found throughout this new building.

The Shipyard, Riverhead
Courtesy of G2D Group

Slab stone backsplashes, Quartz countertops, stainless steel professional-grade appliances, wine fridges, dishwashers and in-unit washers and dryers can be found in each unit. Primary bedrooms can fit king-size beds with ease, there are high ceilings throughout the building and walk-in closets offer plenty of storage. There is also LED lighting, modern bathrooms with stall showers and soaking tubs and high ceilings.

In a furnished studio that Behind The Hedges toured a half-wall that separates the bed from the main living area also hid a television that pops up when wanted. Large windows let light pour in.
The Shipyard, Riverhead
Courtesy of G2D Group

A 24-hour video surveillance system keeps residents safe. Latch, a “smart” key fob entry system, controls each door and allows residents access from their mobile phones. The building also provides concierge cleaning services, such as a handyman and dog walking services.

A spacious, sleek rooftop lounge also offers all residents outdoor space to lounge or eat — depending on the wind direction, some days you can even hear the seals from the neighboring Long Island Aquarium. Tenants receive a membership to the aquarium and have access to the amenities there, such as the restaurant, bar and events.

Additional amenities include a private gym and a business center.

There is a private lot for the residents with no additional fee for parking.

The Shipyard, Riverhead
The rooftop loungeCourtesy of G2D Group

It took about a year-and-a-half of planning to make sure the building was what the town wanted to fit in with the surrounding community, says Justin Fallon of G2D Group. “We only develop in municipalities where we are wanted, and the Town of Riverhead (Town Board and Planning Board) could not have been more helpful,” he says.

The G2D Group officially acquired the property on October 15, 2020, and construction took about 16 months to complete.
A view from a private balconyCourtesy of G2D Group

Gregory DeRosa, founder and chief executive officer of G2D Group, has been developing and managing real estate in the tri-state area since the early 2000s. Its portfolio includes mixed-use, medical, retail and residential properties in New York. Multifamily residences are located in transit-oriented communities in Huntington, Garden City, Hicksville and Riverhead.

G2D is busy working on another project in Riverhead — a mixed-use building at 205 Osborn Avenue in Riverhead with 39 residential units.

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A view of the Peconic RiverCourtesy of G2D Group