21-story condo plan (5 Franklin Place) - TriBeCa -

[krulltime]

Sleepy Hudson plans 21-story condo building in TriBeCa


17-NOV-06

Sleepy Hudson LLC has gotten a $28.3 million senior bridge loan to acquire two adjacent parcels of land on Broadway between White and Franklin Streets and Franklin Place in TriBeCa where it plans to erect a 21-story residential condominium building.

The financing was provided by Canyon Capital Realty Advisors and Pantheon Financial.

Sleepy Hudson LLC is the developer of Highline 519, a residential condominium development adjacent to the High Line at 519 West 23rd Street. That project had been designed by Lindy Roy and is distinguished by its cloud-like scrims on its balconies. Alexander Campagno is now the architect for that project, which has added one floor to its height and recently has been topped out and is scheduled for occupancy in the first quarter of next year, according to Paul Bonnar of Sleepy Hudson.

Dave Kislin and Leo Tsimmer are the principals of Sleepy Hudson LLC.

Details about the number of apartments planned for the building and which architect is designing it have not been finalized, according to Mr. Bonnar, who added that the number of apartments will probably be in the range of 65 to 70.

The building is an "as-of-right" project, according to Mr. Bonnar, meaning that it will be erected within existing zoning and building department regulations and not require public review.

The new project will probably have its residential entrance on Franklin Place and retail frontage of Broadway. It is a mid-block project and does not have frontages on White and Frankln Street.

Franklin Place runs one block from White and to Franklin Street.

The site is one block south of the proposed conversion into 90 residential condominium apartments of the 29-story office tower at 401 Broadway on the northwest corner of Walker Street.

The site is convenient to SoHo and Chinatown and there is good public transportation in this area.


Copyright © 1994-2006 CITY REALTY.COM INC.

[lofter1]

It seems that the site for this project is located at 373-375 Broadway (aka 9 Franklin Place) and 369-371 Broadway (aka 3-5 Franklin Place).

This block -- bounded by Broadway / White St. / Franklin Place / Franklin St. -- is a non-Landmarked block. However, it is surrounded on the west, north and east by the Tribeca West Historic District (see LPC Map HERE (http://www.nyc.gov/html/lpc/downloads/pdf/maps/tribeca.pdf) ).

The existing building at 373-375 Broadway is a 6-story building which appears to have cast-iron facade that sits on a plot 150' x 50':

http://tribecaspaces.com/373.JPG

The building to the south (371 Broadway; aka 5 Franklin Place) is a 5-story / 50' building on a 25' x 150' plot with a lousy looking 60's facade (as seen at the far left in the photo above).

The building to the south of that (369 Broadway; aka 3 Franklin Place) is a 5-story building on a 25' x 150' plot.

The building to the north (377-379 Broadway) is a 12-story / 145' commercial condo.

NYC Department of Finance records show that a transfer of the 373-375 property was recorded on 11.13.2006; on that same date a transfer was recorded for 369-371 Broadway (amount recorded on that date: $3,072,333.00).

The 373-375 property was recorded in the name of Ascendance Development LLC. The 369-371 property was recorded in the name of Sleepy Hudson LLC.

Google search for "Ascendance Development" turned up an ad at nylawyer.com (http://www.nylawyer.com/cgi-nyl/MailToFriendLA.pl?id=645190):


NOTICE OF FORMATION of ASCENDANCE DEVELOPMENT, LLC,

a domestic Limited Liability Company (LLC). Articles of Organization filed with Secretary of State on 6/9/05. NY Office location: NEW YORK County. Secretary of State is designated as agent upon whom process against the LLC may be served. Secretary of State shall mail a copy of any process against the LLC served upon him/her to C/O LEO TSIMMER, C/O SLEEPY HUDSON, LLC 261 MADISON AVE STE 1504 NEW YORK, NY 10016. PURPOSE: To engage in any lawful act or activity. 645190 f23-Th m30

Hopefully the plan here is renovate the cast iron building at 373-375 and use the air rights from that plot to build the new 21-story building on the site of 369-371.

That would save the 5-story existing building -- and would also maintain a buffer between the existing 12-story building to the north and this new "tower".

[lofter1]

Some pics of this stretch of Broadway between Franklin / White ...

#1. 369 Broadway
#2. 371 Broadway
#3. 373-375 Broadway
#4. That side (west) of the block
#5. The opposite side of Broadway (within the Historic District); nice buildings at mid-block
#6. A new-ish 21-story POS on the SE corner of Broadway & White (within the Tribeca East Historic District but built before that District was created)

***
373-375 is not cast iron but appears to be painted limestone or sandstone (see the last pics: #s 7 & 8)

The furniture store in 373-375 is moving out soon (just up the block to 402 B'way). The proprietor did not know if there were any plans to tear down this building.

[lofter1]

Around the corner where Franklin Place runs for the single block between Franklin and White you find a tiny little cobblestoned lane barely big enough for two cars to pass (in fact, today there were parked cars blocking access from the north at Franklin).

All of the Broadway buildings that back up onto Franklin Place are currently old-style Tribeca grunge -- lots of painted but peeling brickwork, rusting fire escapes and battered loading docks.

The buildings across Franklin Place are all 5-story red brick and look to be in terrific shape (that could be because they are all within the landmarked Tribeca Historic District ;) ).

The article says that the entrance to the residential units in the new building will be along Franklin Place. Eventually this could become a charming little street -- as it stands now it will scare many buyers away.

Some pics ...

#1. The rear of 369 & 371 Broadway (aka 3 & 5 Franklin Place)
#2. The canopied loading dock at the rear of 373-375 Broadway (aka 9 Franklin Place)
#3. Franklin Place looking south from White Street towards Franklin Street
#4. The red brick facades of the buildings along the west side of Franklin Place

***

[lofter1]

Meanwhile, a couple of blocks south on Broadway, DEMOLITION is nearly complete at the 279 Broadway (aka 57 Reade St.) site -- just to the north of Cass Gilbert's fantastic Broadway Chambers Building.

The thread on that one is HERE (http://www.wirednewyork.com/forum/showthread.php?t=8855&page=2&highlight=cass+gilbert+broadway+chambers).

Latest pics of that Demo'd site are HERE (http://www.wirednewyork.com/forum/showpost.php?p=131477&postcount=26).

[krulltime]

Thanks for the photos lofter1. I hope that Cast Iron building is saved. But I highly doubt these developers will care to do so. all they care is to built something simple and fast. Especially now that the condo boom is ending soon.

I am sure O'Haras (and other like it) must be contacting these developers with their quick ideas. :rolleyes:

[lofter1]

UPDATE:

I got word that the nicer building at 373-375 Broadway is NOT part of this project http://www.unity.i8i.co.uk/forum/images/smiley_phew.gif


The Sleepy Hudson development will take place at the POS located at 369-371 Broadway http://www.unity.i8i.co.uk/forum/images/smiley_joy.gif

[londonlawyer]

UPDATE:

I got word that the nicer building at 373-375 Broadway is NOT part of this project http://www.unity.i8i.co.uk/forum/images/smiley_phew.gif


The Sleepy Hudson development will take place at the POS located at 369-371 Broadway http://www.unity.i8i.co.uk/forum/images/smiley_joy.gif

Awesome! I hate that POS at 371. (369 isn't bad though.)

[lofter1]

And it appears that no air rights were obtained from 373-375, so that leaves me with the fear that the north facade of this new 21-story building will be a blank wall ... http://www.wirednewyork.com/forum/images/icons/icon13.gif

[antinimby]

Not me. I won't celebrate just yet.

I'll remain skeptical until we see how the demolition goes.

lofter, how did you get that information?

[lofter1]

One of the owners of 373-375 PM'd me :cool:

Wanted to clear up something I found at Department of Finance website and posted here -- and which turned out to be an apparent mistake in city records regarding a prior sale.

[infoshare]

Aerial views and map.

[londonlawyer]

Around the corner where Franklin Place runs for the single block between Franklin and White you find a tiny little cobblestoned lane barely big enough for two cars to pass (in fact, today there were parked cars blocking access from the north at Franklin)....
#1. The rear of 369 & 371 Broadway (aka 3 & 5 Franklin Place)
#2. The canopied loading dock at the rear of 373-375 Broadway (aka 9 Franklin Place)
#3. Franklin Place looking south from White Street towards Franklin Street
#4. The red brick facades of the buildings along the west side of Franklin Place

***

What a beautiful street! White Street, between B'Way and Church, is also magnificent. It's buildings look as stunning as the line-up at a beauty pageant.

[niceguy]

Thanks for the comments about Franklin Place. The opening scene of "The Talented Mr. Ripley" was shot in this alley. The "canopied roof of 373-375 Broadway" and the loading dock is transformed into a butcher shop. Many other films and videos have used this alley including the bug scene in "Men and Black," and a music video for the Blues Travelers. :rolleyes:

[londonlawyer]

Nothing has occurred with this project for quite some time.

[londonlawyer]

Sidewalk bridges have been erected as of Nov. 27th.

[lofter1]

Hoping that ^ means this project is a "GO".

DOB shows recent Permits have been issued for sidewalk sheds at 369 Broadway (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=9&allisn=0001437223&allboroughname=&allnumbhous=&allstrt=) and 371 Broadway (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=7&allisn=0001437275&allboroughname=&allnumbhous=&allstrt=). Both claim that the shed is for remedial repairs. But neither property shows a New Building application.

There has also been a sidewalk shed up for a number of weeks in front of the building just to the north at 373 Broadway (picture attached). According to DOB the shed is for facade repair (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=2&allisn=0001412541&allboroughname=&allnumbhous=&allstrt=) (workers have recently been seen power washing the facade there).

***

[josh]

Thanks for the comments about Franklin Place. The opening scene of "The Talented Mr. Ripley" was shot in this alley. The "canopied roof of 373-375 Broadway" and the loading dock is transformed into a butcher shop. Many other films and videos have used this alley including the bug scene in "Men and Black," and a music video for the Blues Travelers. :rolleyes:

Hi Nice Guy,

Where did you get this information from?

Josh

[lofter1]

Welcome back, Josh ...

Good to see that there is work going on the facade at 373 Broadway.

Anythiing you can tell us about what has been discovered there during the process will be appreciated.

[sfenn1117]

379 Broadway

Two five-story commercial buildings at 379 Broadway are now part of the downtown residential renaissance. Located between Franklin and White Streets, the buildings are undergoing interior demolition and being bolstered with structural supports.

As demolition continues, contractor Leeds United Construction will begin adding 17 stories and converting the single structure to a residential tower. Developer Frankin Place, a subsidiary of Sleepy Hudson, expects to welcom new tenants to the 22-story building by September 2009.

Click here (http://lowermanhattan.info/http://www.lowermanhattan.info/flash/visualization/default.asp) for a tour of the rebuilding projects taking place in Lower Manhattan.
Locate this project on the Interactive Streetwork Map (http://lowermanhattan.info/http://www.lowermanhattan.info/flash/transportation/default.asp?layer=alerts).

Daily Activities

Current Activities

* The following information was last updated on November 28, 2007.
Work currently taking place includes

Interior demolition
Installation of structural support for building extension< Back to Top > (http://lowermanhattan.info/construction/project_updates/379_broadway_92672.aspx#top)

Contact Info

Please call Curtis Wahle at Franklin Place at (917) 370-4361 or (212) 867-0800, or contact him via email at wahle@sleepyhudson.com (wahle@sleepyhudson.com) for more information.
< Back to Top > (http://lowermanhattan.info/construction/project_updates/379_broadway_92672.aspx#top)

Frequently Asked Questions


Q: What is this project's work timeline? (http://javascript<b></b>:toggleQuestion('answer0'))
A: Interior demolition and other preparations began in October 2007. The contractor has planned a "phased demolition" that will allow crews to begin adding the 17 new stories to the structure while demolition continues, through spring 2008. Overall construction is slated for completion in September 2009.

Q: What traffic changes are associated with the project? (http://javascript<b></b>:toggleQuestion('answer1'))A
: The 379 Broadway project requires the closure of on lane of traffic on the north side of Franklin Street between Broadway and Franklin Alley.

Click here (http://lowermanhattan.info/construction/global/questions/) for answers to commonly asked construction questions.< Back to Top > (http://lowermanhattan.info/construction/project_updates/379_broadway_92672.aspx#top)


http://lowermanhattan.info/construction/project_updates/379_broadway_92672.aspx

[lofter1]

That ^ report shows the wrong address.

DOB show that 379 Broadway is actually 377 - 379 Broadway (http://a810-bisweb.nyc.gov/bisweb/PropertyProfileOverviewServlet?requestid=2&bin=1001940), which is already a 12-story building. It sits on the block to the north.

Lower Manhattan Info should read 369 - 371 Broadway (or just provide a link to the info here :cool: ).

DOB Interior Demo Permit for 369 Broadway (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=2&allisn=0001419087&allboroughname=&allnumbhous=&allstrt=).

DOB Interior Demo Permit for 371 Broadway (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=7&allisn=0001419088&allboroughname=&allnumbhous=&allstrt=).


DOB Engineering / Shoring Permit (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=7&allisn=0001449684&allboroughname=&allnumbhous=&allstrt=) 11.27.07:Application filed to provide cross lot shoring for the buildings desmising walls as shown on plans filed herewith.

20 stories / 210'

[londonlawyer]

I hope that the dumpy building in the middle of this parcel with the horrible, tacked-on 1970's facade is razed or at least gets a new facade.

[lofter1]

Which one do you mean ^ ?

[londonlawyer]

The one on the left in this photo (just south of the beautiful one).

http://tribecaspaces.com/373.JPG

[lofter1]

That is 371 Broadway.

I think we can rest assured that the facade we see there now is short-lived.

[londonlawyer]

I hope so. That building will not be razed though. Is that correct?

[lofter1]

That ^ is not clear to me.

So far they have been issued Permits for "Interior Demo" at both 369 & 371. Plus the recent "Shoring / Structural" Permit for 371.

Sometimes the actual "Demo" / "tearing it down" Permit comes later (this is what has happened with a couple of little buildings at 41-43 Bond Street, where initial Applications / Permits where for "interior demo" / "facade repair" but just recently a full New Building Application (http://a810-bisweb.nyc.gov/bisweb/JobDetailsServlet?requestid=10&allisn=0001441504&allboroughname=&allnumbhous=&allstrt=) covering both of those lots has showed up at DOB).

My gut says that both 369 & 371 Broadway will be totally demo-ed. But so far there is no paper-trail proof of that.

[londonlawyer]

Thanks for the info.

[lofter1]

CURBED has an update on this one today (and added, in a comment after-the-fact, that renderings for the new buildings are still "several more months" away) ...

Awesome Architecture Alert: Broadway Getting Berkel'd

CURBED (http://curbed.com/archives/2008/02/20/awesome_architecture_alert_broadway_getting_berkel d.php)
February 20, 2008
by Joey

http://curbed.com/uploads/2008_2_berkel1.jpg
[Photo via PropertyShark (http://www.propertyshark.com/)]

The Dutch built up this crazy little island, and now they're coming back to
add a touch of the avant-garde. Ben van Berkel, one of the principal
architects behind the UNStudio (http://www.unstudio.com/) design firm—whose work upstate was sadly
destroyed by fire (http://archrecord.construction.com/news/daily/archives/080212unstudio.asp) recently—is designing his first condo building in America,
and it's landing at 5 Franklin Place. Franklin whatnow? Franklin Place is a
one-block alley that connects Franklin and White Streets, half a block west
of Broadway and a few blocks below Canal Street. Yes, the residents'
entrance will be in an alley, which immediately makes this the most awesome
thing ever. Those twin five-story buildings seen above, at 369-371
Broadway, are what sit on the lot now. The developer of the project is
Sleepy Hudson, the same company behind the trippy High Line 519 (http://curbed.com/archives/2007/05/16/lindy_roys_high_line_519_ready_to_roll.php), but 5
Franklin Place will be bigger—21 stories. The cat was let out of the bag back
in November 2006, when Sleepy Hudson secured financing (http://www.thefreelibrary.com/Canyon+Capital+Finances+Acquisition+of+Prime+Tribe ca+Properties+for...-a0154453738) for the project.
And indeed, there's already a Wired New York (http://wirednewyork.com/forum/showthread.php?t=11517) thread on the topic. But van
Berkel's involvement is the splashy new headline. We assume 369-371
Broadway will be razed to make way for the new building, but so far only
interior demolition permits have been filed.

http://curbed.com/uploads/2008_2_berkel2.jpg

· UNStudio (http://www.unstudio.com/) [unstudio.com]
· Thread: 21-story condo plan on Broadway between White and Franklin Streets (http://wirednewyork.com/forum/showthread.php?t=11517) [WiredNY]

[Bjorndog]

FYI: Leo Tsimmer, the developer of Franklin Place's Bethel, NY UNStudio/Ben van Berkel house was destroyed in a recent fire. VilLa NM ...Note the NY Times 'T' Magazine link.

see the links below....

Search for clues in Bethel blaze
http://images.recordonline.com/apps/pbcsi.dll/bilde?Site=TH&Date=20080207&Category=COMM&ArtNo=802070319&Ref=AR&maxH=230&maxW=370&border=0&Q=80 (javascript:NewWindow(870,625,window.document.loca tion+'&Template=photos');)
Sullivan County Fire Investigator Art Hawker at the site of the blaze that tore through a modern mansion located off Burr Road in Bethel.Times Herald-Record/MICHELE HASKELL



By BY Michal Lumsden
Times Herald-Record
February 07, 2008
BETHEL — Fire investigators yesterday sifted through the remains of a modern mansion off Burr Road that was recently featured in The New York Times and burned to the ground Tuesday night.
The cause of the fire is still unknown, according to George Slater, the Kenoza Lake assistant fire chief.
In October, the Times ran an architectural feature about the building, which was a second home owned by Leo Tsimmer.
Designed by Dutch architects, the house had tinted glass for many of its outside walls and LED-lit polycarbonate panels in the kitchen.
It was perched atop a Bethel hill with a commanding view of the surrounding area.
Tsimmer was in New York City at the time of the fire; a passer-by called in to report the blaze.
Crews from Kenoza Lake, Jeffersonville, Lake Huntington and White Lake battled the fire for three hours.
mlumsden@th-record.com

http://www.recordonline.com/apps/pbcs.dll/article?AID=/20080207/COMM/802070319/-1/NEWS

http://archidose.blogspot.com/2008/02/un-studios-villa-nm-destroyed-in-fire.html

http://www.nytimes.com/slideshow/2007/10/04/style/tmagazine/20071007_ASTRO_SLIDESHOW_index.html

http://www.archidose.org/Blog/NM2.jpg

[Man_Frog_Lust]

The website went live.
www.fivefranklinplace.com (http://www.fivefranklinplace.com)

[antinimby]

Franklin Place getting building with twisting, black metal banding


09-APR-08 (http://www.cityrealty.com/new_developments/news.cr?noteid=22842)

Sleepy Hudson LLC has commissioned UN Studio to design a 20-story residential condominium apartment building at Five Franklin Place in TriBeCa.

The project is located at 371 Broadway on a block bounded by Broadway, Franklin Place and White and Franklin Streets.

It will have 55 apartments.

According to UN Studio's website, the project "pays homage to TriBeCa's iconic cast-iron aesthetic, with a facade constructed from reflective black metal bands of varying widths." "The metal bands twist like ribbons, wrapping Five Franklin Place with terraces and balconies, employing the decorative element as a functional tool," it added.

The project will have loft residences, city residences, and sky penthouses, "each with their own distinct architectural features," color palette and choice of materials, according to the website.

Franklin Place was featured in "The Talented Mr. Ripley," the movie, and "Men in Black," the movie.

According to the Department of Buildings, the project consists of a conversion of an existing 5-story commercial building and a "new vertical enlargement" that will be 210 feet high. The department's records indicated that the owner is Franklin Place LLC of which Leo Tsimmer and David Kislin are principals, who are also principals of Sleepy Hudson LLC, which developed the High Line 519 residential condominium building at 519 West 23rd Street that was designed by Lindy Roy.

UN Studio was founded in 1998 by Ben van Berkel and Caroline Bos and it was named one of ten most important current "tastemakers" in architecture in a March, 2007 article by Lisa Lerer in Forbes magazine.

Its projects include the Battersea Weave Office Building in London, the Music Theater in Graz, Austria, the Light*House in Aarhus, Denmark, the Mercedes-Benz Museum in Stuggart, Germany, the Groninger Forum in Groningen, The Netherlands, the World Business Centre in Busan, South Korea, the Ciudad del Motor in Alcaniz, Aragon, Spain, and the Auditorium della citta di Padova in Italy.

Copyright © 1994-2008 CITY REALTY.COM INC.

[londonlawyer]

Franklin Place getting building with twisting, black metal banding


09-APR-08 (http://www.cityrealty.com/new_developments/news.cr?noteid=22842)

Sleepy Hudson LLC has commissioned UN Studio to design a 20-story residential condominium apartment building at Five Franklin Place in TriBeCa....
According to the Department of Buildings, the project consists of a conversion of an existing 5-story commercial building and a "new vertical enlargement"....Copyright © 1994-2008 CITY REALTY.COM INC.

There are two buildings on B'Way -- a nice one and a dump. I hope the former will be saved and the latter razed.

http://wirednewyork.com/forum/attachment.php?attachmentid=3042&d=1163897564

[antinimby]

^ Don't know about all that but here's what those two buildings look like right now (courtesy of curbed)...

http://curbednetwork.com/cache/gallery/3113/2436829592_cdc1522270_o.jpg

and out back...

http://curbednetwork.com/cache/gallery/2024/2436829446_9a0ec8ee7c_o.jpg

[antinimby]

And here's what's going in that slot:

[Image removed at the request of the developer...]

[londonlawyer]

Excellent news! The new building looks great, and the two pieces of junk are going (whether they'll be demolished are reclad is unclear).

[sfenn1117]

Not what I was expecting, but pretty cool

[macreator]

Wow! That looks really neat. Let's hope they choose their glass wisely.

[Front_Porch]

I think their prices might be pushing it in this location, even for starchitecture. It will be interesting to see what happens.

ali r.
{downtown broker}

[londonlawyer]

From curbed.com on Apr. 28, 2007:

http://curbed.com/uploads/2008_4_berkelfacade.jpg

WOW!!!!

[antinimby]

Yes, very nice indeed and very different from the usual cheap and ugly that we see far too often in this city.

The developer should be commended and hopefully this will set a precedent. http://wirednewyork.com/forum/images/icons/icon14.gif

[alonzo-ny]

Wow indeed!!

[NYatKNIGHT]

Love it - I'll believe it when I see it.

[pianoman11686]

More renderings from Dezeen (http://www.dezeen.com/2008/04/29/five-franklin-place-by-unstudio/):

http://www.dezeen.com/wp-content/uploads/2008/04/squreffp-facade-detail-with.jpg

http://www.dezeen.com/wp-content/uploads/2008/04/tri_2_hero-from-northeast.jpg

http://www.dezeen.com/wp-content/uploads/2008/04/tri_1_franklin-place-approa.jpg

http://www.dezeen.com/wp-content/uploads/2008/04/franklinplace5-additional_i.jpg

http://www.dezeen.com/wp-content/uploads/2008/04/tri_4_facade-detail-i.jpg

[Stern]

Its different but I can't say I love it. Also does NY have a law like LA's where every building must have a flat roof?

[infoshare]

Great Architectural Design, this design team has been featured on the ARTINFO website - Ten To Watch (http://www.artinfo.com/news/story/27088/two-for-the-road-ben-van-berkel-and-caroline-bos/). :cool:

[alonzo-ny]

Very interesting, not sure about the street level though.

[lofter1]

MODS: Could this thread be re-titled so that it contains the name of the development -- Five Franklin Place -- in the thread title :confused: ...

Today from CURBED (http://curbed.com/archives/2008/08/05/ben_van_berkel_pour_yourself_a_slab.php#reader_com ments):

Ben van Berkel, Pour Yourself a Slab

http://curbed.com/uploads/2008_07_5FrankSlab11a.JPG
Ben van Berkel (inset) and the foundation of his project at Five Franklin Place.

How to solve the problem of slotting black and bendy (http://curbed.com/archives/2008/04/29/black_and_bendy_five_franklin_place_fully_exposed. php) Five Franklin Place
into a neighborhood of 100-plus year old buildings so that everything
stands tall and secure? For Dutch architect Ben van Berkel and the gang
at UNStudio (http://www.unstudio.com/projects/recent/1/366#text), the answer was to clear out the guts (http://curbed.com/archives/2008/04/23/berkel_diggin_five_franklin_place.php) of a couple of old
buildings, then weave about 637 miles of black and bendy rebar ribbons
into three feet of foundation. Finally, cover it all with lots of concrete. In
this neck of the woods it's better to be safe than sorry (http://curbed.com/archives/2008/05/06/287_broadway_has_supersized_support.php). Ben's made a
strong start on what's needed to get this big basket of blingification (http://www.archpaper.com/e-board_rev.asp?News_ID=1626) rising
above Tribeca. Now, it's time to pour another one.

http://curbed.com/uploads/2008_07_5FrankSlab2.JPG
The first layer of rebar set within the excavated shell of 369 - 371 Broadway.

http://curbed.com/uploads/2008_07_5FrankSlab3.JPG
Detail of the first of many layers of rebar where it meets an old wall next door.

http://curbed.com/uploads/2008_07_5FrankSlab6.JPG
Rendering of the completed Five Franklin Place, showing both front (l.) and rear (r.)

http://curbed.com/uploads/2008_07_5FrankSlab5.JPG
Narrow Franklin Place as it is seen today, looking south towards Franklin Street.

http://curbed.com/uploads/2008_07_5FrankSlab13.JPG
The foundation slab with cross-lot shoring for 369 - 371 Broadway rising above.

· Black and Bendy Five Franklin Place Fully Exposed (http://curbed.com/archives/2008/04/29/black_and_bendy_five_franklin_place_fully_exposed. php) [Curbed]
· Projects > Five Franklin Place (http://www.unstudio.com/projects/recent/1/366#text) [UNStudio website]
· Berkel Diggin' Five Franklin Place (http://curbed.com/archives/2008/04/23/berkel_diggin_five_franklin_place.php) [Curbed]

5fp

[NYC4Life]

Curbed.com

Five Franklin Place 'Downshifted' As Market Slows

Friday, October 31, 2008, by Joey

http://curbed.com/uploads/2008_10_fivefranklin.jpg

Yesterday we picked up some chatter on the CurbedDar regarding Five Franklin Place, Dutch architect Ben van Berkel's big, black and bendy (http://curbed.com/archives/2008/04/29/black_and_bendy_five_franklin_place_fully_exposed. php) New York City debut. Specifically we heard some rumors about the 20-story Tribecaish project's financing. Then, we noticed that the building's listings appear to have vanished from the web, and the project is no longer mentioned on the Corcoran Sunshine Marketing Group website. Concerned about these matters (the Post noted last week that only around 8 apartments in the 55-unit building have sold since May), we asked Leo Tsimmer of Five Franklin developer Sleepy Hudson to comment. And he did!

When asked about the state of the project, Tsimmer told us: We are changing to Sales Gallery operations to "by appointment only," which will allow for significant economy in staffing costs, and ultimately let's us concentrate the attention on what is important, I.e. Construction. All other non-core aspects of the development such as advertising are also being downshifted. Trim and lean is the name of the game. Our financial troubles are no more than of the other developers who continue construction/development with their own funds in this market environment. Last week we finishied pouring the 2nd floor, and construction continues.And there you have it. As for the sales and marketing situation, Tsimmer says Five Franklin has retained one person from the original sales team and two in-house employees. He adds, "I am in talks with Corcoran right now about the switch. It involves discussing new candidates and they expressely told me they "would love to continue being involved in this great project."