Dumbo could get a new condominium at the Jay Street Arts Building at 201 Water Street.

The three-story property measures 81,805 square feet, and the owner, listed as Simon Dushinsky, is proposing to convert the warehouse into a six-story mixed-use building with 126 units, according to Brownstoner. Architect Karl Fischer is meeting with the Landmarks Preservation Commission on October 23 for an application to alter the warehouse’s masonry openings, install storefront infill, add to the rooftop and replace windows.

The Department of Buildings rejected the original plan last month.

If the conversion is approved, the development will be in good company; the 65-unit Toll Brothers condominium at 205 Water Street recently sold out, with units priced from the low $400,000s to $2.2 million, an average of $875 per square foot.

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