The properties will not answer Auckland's call for cheaper housing, with developer Todd Property Group estimating they will go for between $750,000 and upwards of $1 million.
The company's external relations manager, Conor Roberts, said one property had just sold for $1.25 million.
Chief executive Evan Davies previously told the Herald he made no bones about developing upmarket housing on the 160ha estate, of which just 67ha is for houses.
The rest is set aside for a green buffer between the regional park, roads, stormwater treatment areas, wetlands and landscaped zones.
"When you've paid what we've paid for infrastructure that nobody else provided and when you have taken 13 years to get here, the possibility of providing that kind of [affordable] outcome is precluded," Mr Davies said.
The company hoped the Long Bay development would be deemed a "special housing area", set out in the Government's recently announced Housing Accord, which would fast-track the consent process.
The accord was been signed off last week by Housing Minister Nick Smith and Mr Brown to "urgently increase the supply and affordability of housing in Auckland".
As part of the accord, the Government yesterday announced it would spend $377 million to add more bedrooms to existing state houses and to build extra houses.
Dr Smith said that initiative was expected to deliver up to 3000 new state house bedrooms to 2000 properties over the next two years, with three quarters of them in Auckland.
Another project is to build an additional 500 infill two-bedroom state houses over the next two years on large Housing New Zealand properties in Auckland.
LONG BAY DEVELOPMENT
* 162ha land area
* 67ha area for housing
* 500sq m average section size for two-thirds of housing
* 250sq m average section size for other areas
* Properties to cost $750,000 - $1 million-plus
