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Thread: William Beaver House - 15 William Street - Condo - by Tsao & McKown Architects

  1. #31

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    good scoop!

  2. #32
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    From The Real Deal...

    15 William Street sold for $90M
    SDS Investments, a new real estate fund founded by S. Lawrence Davis, has reportedly bought 15 William Street for $90 million. The sellers, the Manocherian family, were working on a rental project there that Davis said he would continue.

  3. #33
    In the long run... londonlawyer's Avatar
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    I was wondering why this is moving so slowly. Hopefully, the design will be nice.

  4. #34

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    This is what was in the Post. Looks like it will be condos, not a rental.

    S. Lawrence Davis has left Emmes and formed real estate fund SDS Investments with Tamir and Alex Sapir. As its first project they have purchased the long-empty lot at 15 William St. for $90 million from the Manocherian family.
    "This was an off-market transaction," said Davis. The Manocherians had been working on a rental project with SLCE Architects, and Davis said they are considering another design architect. "We'll tweak the façade and insides to reflect the higher quality of a luxury condominium," Davis added.

    Quote Originally Posted by BrooklynRider
    From The Real Deal...

    15 William Street sold for $90M
    SDS Investments, a new real estate fund founded by S. Lawrence Davis, has reportedly bought 15 William Street for $90 million. The sellers, the Manocherian family, were working on a rental project there that Davis said he would continue.

  5. #35
    The Dude Abides
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    From http://cityrealty.com:

    New owners of 15 William Street plan large condo tower 17-OCT-05

    The large vacant lot at 15 William Street across Beaver Street from Delmonico’s Restaurant has been recently acquired from the Manocherian family by SDS Investments, a real estate fund of which Tamir and Alex Sapir and S. Lawrence Davis are principals for about $90 million.

    The Manocherians, prominent New York City developers whose projects include the Caroline at 58-74 West 23rd Street, had planned a 38-story rental tower with about 345 apartments with a 100-car garage.

    Mr. Davis told CityRealty.Com today that SDS plans a taller tower, perhaps 48 to 49 stories, with about 300 condominium apartments. He said that SCLE, which had designed the rental tower for the Manocherians, will be the project architect for the condominium tower.

    The site is on the same block at 15 Broad Street, which Swig Equities recently said it was converted to condominium apartments.

    Mr. Davis said that construction should start next spring and be completed in the fall of 2007.

    In the Manocherian plan, about 15 percent of the apartments in the project were to used for moderate-income residents in the building and the project was also supposed to create "affordable" housing off site as well. Mr. Davis said the project does not involve such units.

    Tamir Sapir is a Russian émigré who came to the United States in 1975 and is a former taxicab drive who eventually invested in a small electronics store and then bartered electronics to Soviet enterprises in exchange for oil contracts and then began buying real estate in Manhattan starting with the $2.3 million purchase in the early 1990s of a 20-story building at 80 John Street, which was followed in 1995 with the purchase of 2 Broadway, a 1.6-million-sq.ft. office building for about $20.5 million.

    Last year, his organization acquired Eleven Madison Avenue, the 2.3 million sq.ft., 29-story office tower that was originally planned to be about 100 stories and which can support such an expansion. The Sapirs also own 260 and 261 Madison Avenue.

  6. #36
    Disgruntled Optimist lofter1's Avatar
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    Tamir Sapir is a Russian émigré who came to the United States in 1975 and is a former taxicab driver who eventually invested in a small electronics store and then bartered electronics to Soviet enterprises in exchange for oil contracts and then began buying real estate in Manhattan
    Isn't this the same back-story for that new sitcom on Fox, "Oh, Tamir!!" ?

  7. #37

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    Quote Originally Posted by pianoman11686
    From http://cityrealty.com:
    Last year, his organization acquired Eleven Madison Avenue, the 2.3 million sq.ft., 29-story office tower that was originally planned to be about 100 stories and which can support such an expansion. The Sapirs also own 260 and 261 Madison Avenue.
    MUWAHAHA.

  8. #38

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    Quote Originally Posted by pianoman11686
    From http://cityrealty.com:
    He said that SCLE, which had designed the rental tower for the Manocherians, will be the project architect for the condominium tower.
    SLCE isn't necessarily known for groundbreaking work. The tower is good news for downtown and all but it'd be cool to see something nice. They are trending towards glass though...so we may get lucky.

  9. #39

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    Quote Originally Posted by pianoman11686
    From http://cityrealty.com:

    29-story office tower that was originally planned to be about 100 stories and which can support such an expansion.
    Any chance of a hearst style tower on this baby

  10. #40
    Disgruntled Optimist lofter1's Avatar
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    Link to the design of the possible tower: http://www.nyc-architecture.com/GRP/GRP19-502.jpg


  11. #41
    Moderator NYatKNIGHT's Avatar
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    ^I would love to see that.
    Quote Originally Posted by cityreality.com
    The Manocherians....had planned a 38-story rental tower with about 345 apartments with a 100-car garage.

    Mr. Davis told CityRealty.Com today that SDS plans a taller tower, perhaps 48 to 49 stories, with about 300 condominium apartments.
    This project suddenly became interesting.

  12. #42
    Forum Veteran krulltime's Avatar
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    Balazs Goes Way Downtown



    15 William Street, at the corner
    of Beaver Street



    By WILLIAM NEUMAN
    Published: December 18, 2005

    ANDRÉ BALAZS and a group of investors will break ground next year on the first new condo building in the heart of the financial district.

    The 45-story luxury tower at 15 William Street, at the corner of Beaver Street, will rise on what was a 23,000-square-foot parking lot, opposite Delmonico's.

    The Wall Street area has seen a wave of high-end condo conversions recently, all with a prominent name attached to give them cachet, starting last year with Downtown by Philippe Starck, a 382-unit conversion at 15 Broad Street, across the street from the New York Stock Exchange. That was followed this year by the conversion of 55 Wall Street into the Cipriani Club Residences, with 106 units. Next year, Leviev Boymelgreen, the developer of the Broad Street project, will begin sales for 20 Pine Street, a 409-unit conversion of the old offices of Chase Manhattan Bank, with interiors by Armani/Casa.

    SDS Investments, a company formed by the Sapir Organization and S. Lawrence Davis, an investor, bought the William Street lot in September for $90 million and brought in Mr. Balazs as a partner.

    The new condos, Mr. Balazs said, will contrast with many of the existing buildings. "The weight and the darkness of most of the buildings in that area, because of the era they were built in, is quite substantial, and I think this is an opportunity to provide a completely fresh and new residential product," he said.

    Mr. Balazs has long been known as a hotelier, but recently he has begun to branch into residential real estate. He was a developer of One Kenmare Square, a 53-unit condo building on Lafayette Street in SoHo, which is to open soon and has been sold out, and he is a developer of 40 Mercer, a new 40-unit building, also in SoHo, designed by the architect Jean Nouvel.

    None of the high-end condos in the current spate of downtown conversions have been occupied yet, although tenants are expected to start moving into 15 Broad Street early next year.

    But the financial district restaurateur Peter Poulakakos said several new rental buildings have already brought in hundreds of new residents and transformed the neighborhood. "It's a noticeable difference, with the people that are moving down here," said Mr. Poulakakos, who has two restaurants and a bar on Stone Street, about a block away from Mr. Balazs's new building. They are Adrienne's Pizza Bar, Financier Pastry Shop and Ulysses, a pub that stays open until 4 a.m.

    "You used to never have people walking into your place at 10 o'clock in the evening - now you do," he said. "The hours are extended, people are around more, the streets are busier."


    Copyright 2005The New York Times Company

  13. #43
    Forum Veteran krulltime's Avatar
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    If this is the same building we need to change the name of the title. It is a condo not a rental.

  14. #44

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    You're right.

    It was to be a rental before the property changed hands.

  15. #45
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    and I think this is an opportunity to provide a completely fresh and new residential product," he said.
    That's always a welcome. But we'll see.

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