Sonny Bazbaz’s under-construction Tribeca conversion, Warren Lofts, is selling like copper-and-bronze hotcakes, with eight of 18 units already in contract.
A sign advertising “authentic Tribeca lofts” went up at the stately 12-story 37 Warren St. development in May. Within a few days, more than 200 people responded. Within a month, the number of interested buyers blew up to 930.
“It was astonishing,” James Lansill, senior managing director at Corcoran Sunshine Marketing Group, told the New York Daily News. “We thought the building would be most valuable to buyers once we were well into construction. We had to change strategy and build a temporary space in the building to meet buyers.”
The property, located on the corner of Church Street, was originally built in 1931 for Stumpp and Walter, a national flower-seed and bulb company. Architects Starrett and van Vleck, who designed the flagship stores for Lord & Taylor, Saks Fifth Avenue and Bloomingdale’s, created retail space on the ground floor with offices and storage upstairs. The architects designed a facade of limestone at the base and beige brick on the upper five floors. Four floral patterns carved into granite under the windows are what first caught Bazbaz’ s eye when he lived in the neighborhood. He paid $15.5 million for the building.
“Over the past 10 or so years, the word loft has become totally diluted,” Bazbaz told the New York Daily News. “Developers built open spaces with 9-foot ceilings and called it a loft… I wanted to go back to the days of the early loft conversions of Tribeca and bring people volume. We used the building’s true features — big windows and 11-foot ceilings.”
The huge apartments (the master bathrooms are as big as most rooms in other condos) start at $2.48 million for a two-bedroom, two-bathroom and reach $4.22 million for a three-bedroom, two-bathroom on the seventh floor. The penthouses, which Lansill dubs “Tom Ford penthouses” for their sex appeal, will go on the market as construction wraps up on the upper floors. The four lucky penthouse buyers will get views of One World Trade to the southwest and the Woolworth Tower to the southeast.
With only 10 available units left, though, you’ll have to act quickly. Down this Warren Lofts-inspired cocktail and go for it.