Looking for a sky-high abode with unbeatable, capital-P pedigree? Until developers start renting out the Empire State Building, The Woolworth Building might be your best bet.

The upper floors of The Woolworth Building, once the world’s tallest skyscraper, will be converted into about 40 luxury apartments.

An investment group led by New York developer Alchemy Properties bought the top 30 floors of the neo-Gothic building for $68 million on July 31, The New York Times reported.

The seller, the Witkoff Group and Cammeby’s International, will continue to own the lower 28 floors, to be leased as office space.

The tower, located at 233 Broadway between Park Place and Barclay Street, was designed by architect Cass Gilbert in 1913 for retail pioneer Frank Winfield Woolworth. The building has been a National Historic Landmark since 1966 and remains one of the 20 tallest towers in New York City.

Apartments will begin at 350 feet above ground level, with panoramic views and 11- to 14-foot ceilings. A five-level penthouse of about 8,000 square feet will be constructed in the copper cupola that reaches 792 feet. The units are slated to be finished by 2015.

“It’s very exciting for us,” Alchemy Properties president Kenneth S. Horn told The New York Times. “We’ve done a lot of historic buildings in the city, but this is ‘the mama,’ as they say.”

The project will cost about $150 million, including the $68 million sales price, The New York Times reported. Apartment prices have not been disclosed, but they could sell for up to $3,000 per square foot.

Alchemy Properties’ current developments include Isis Condominium on 303 E. 77th St. and Griffin Court Condominium on 454 West 54 Street.

Ideas on which New York icon will go the luxury housing route next? We hear there’s space in Lady Liberty’s crown.

Developments featured in this article

More Like This

Facebook Chatter