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Thread: Tribeca Development

  1. #61

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    137 Franklin St


  2. #62

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    This looks quite nice. I walked by recently.

    I'd like to see the one story brown structure, which is located to the south of this building, redeveloped.

  3. #63
    Forum Veteran Tectonic's Avatar
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    Very nice building.

  4. #64

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    7 Harrison St

    Renovation

    Renaissance Revival, built 1893 for a coffee merchant. Mostly intact, including ground floor metalwork.



    Street view

  5. #65

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    This is a very beautiful area.

  6. #66

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    50 Varick St - Spring Studios



    Some visual interest to an ugly industrial building. Too bad the Verizon windows weren't upgraded.





    A look inside two months ago.

  7. #67

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    Looks more out of place since the rest of the block was developed.

    Condo to replace St. John's University building

    Real estate investors Steven Witkoff, Howard Lorber and the Fisher family will buy the lower Manhattan academic facility
    at 101 Murray St. for close to $200 million, demolish it and erect a new luxury condo in its place.

    By Daniel Geiger
    May 24, 2013 1:05 p.m

    A partnership between real estate investors Steven Witkoff, Howard Lorber and the Fisher family is buying 101 Murray St., an academic building in lower Manhattan owned by St. John's University.

    The group will pay nearly $200 million for the property, which they plan to knock down and build a new residential condominium tower in its place. The site can accommodate up to about 310,000 square feet of development and as much as 370,000 square feet if the buyers secure extra development rights from the city by agreeing to create a public plaza space at the site.

    "We saw the success of 56 Leonard St. and that made us feel very good," Mr. Witkoff said, referring to another condo tower rising nearby being built by developer Hines. "I just believe that downtown is now commonly accepted as a wonderful neighborhood to live in."

    The price, which equates to about $600 for every square foot that can be built on the site, surpassed even lofty expectations for the property. It also highlights how the city's soaring condo market has prompted developers to pay big for parcels on which to build.

    "We saw the traction we got at 150 Charles St.," said Mr. Witkoff, speaking about a West Village residential development he is currently constructing. "It's not just foreign buyers, it's New Yorkers who are buying and they want to be in areas like the Village and TriBeCa."

    Some real estate experts said that a project like 101 Murray St. will present a challenge even for a hot condo market. Mr. Witkoff and partners will likely create as many as 200 units, costing millions of dollars apiece—a test of just how many millionaire buyers there are in the market.

    However, Mr. Witkoff has a track record of success. He said apartments at 150 Charles St. have been presold for huge sums. Elsewhere in the city, Mr. Witkoff is building a condo building next to Madison Square Park just north of the Flatiron Building at 1107 Broadway, which is also said to be attracting deep-pocketed buyers.

    Cushman & Wakefield brokers Helen Hwang and Nat Rockett handled the sale of 101 Murray St. on behalf of St. John's University. Neither was available for comment.

    In a statement in March when 101 Murray St. was put on the market, St. John's said it would seek to relocate staff and academic facilities from the building to another Manhattan location that it would lease.

    "The current real estate conditions make this an opportune time to market the TriBeCa location, with an expected maximum return for reinvestment in academic programs and student life," said Martha Hirst, executive vice president, chief operating officer, and treasurer of St. John's University, in a March statement.

    ©2013 Crain Communications Inc.


  8. #68

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    If they did 150 Charles, then we can expect something decent to rise on this plot.

  9. #69

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    Maybe this will be the site on which SHoP's very tall tower will rise. I wonder if any air rights are available.

  10. #70

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    The site is zoned for a half million square feet, which is comparable to 56 Leonard.

    Another article mentioned that the Dept of Education finally admitted that downtown Manhattan is short about 1000 school seats, and a search is on for more space. This could be a good spot for a collaboration between the city and the developer.

  11. #71

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    Thanks, Zip. The article said 375k sq feet, which could yield a residential tower of about 700 feet.

  12. #72
    Disgruntled Optimist lofter1's Avatar
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    The District Council 37 building at 125 Barclay Street (across Murray Street to the south: Street View) is only 10 stories. That 1932 building might have some air rights available. But ...

    The DC 37 building is zoned C6-2A with FAR = 6.0 so that lot might be maxed out.

    Zoning Map 12b

    City Planning C6 FAR Image & Info

    The St. John's building lot is zoned C6-4 with FAR = 10.0 (with some bonus allowable for inclusion of public plaza / affordable housing).

  13. #73

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    Thanks, Lofter. As per the article, the 375,000 sf Includec the plaza bonus.

  14. #74
    Disgruntled Optimist lofter1's Avatar
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    Default 460 Washington Zoning Diagram

    At 460 Washington, where all the older buildings have been demo'd and excavation has begun, DOB issued a Permit for Partial Job / New Building Application on June 24, 2013.

    The Zoning Approval was granted on March 11, 2013.

    Developer is Related. Architect is Ismael Leyva. The Zoning Diagram shows a 10-story chunky block, rising to 110' with a set back, holding 107 units. The roof will have a terrace for Public Assembly.

    The new building will butt up against two older buildings to the north, both 8-stories.

    Click image for larger version. 

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  15. #75
    Disgruntled Optimist lofter1's Avatar
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    Default 24 Varick Rising

    This new one has started to rise above the street. No cellar floors here, due to the subway running along Varick.

    Per the Schedule A most of the mechanicals will be on the 1st Floor.

    Quote Originally Posted by ZippyTheChimp View Post
    24 Varick St St - aka 11 N Moore St

    The big parking lot is finally getting developed.

    http://maps.google.com/maps?q=24+var...55.45,,0,-7.89

    Design was changed by Adjmi & Andreoli.



    Article at Curbed.

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