The 10-story, 27-unit conversion of an office building will cost HFZ Capital an estimated $13.5 million, according to a plan exam application filed August 28th. There will be a lap pool in the cellar, a fitness center and a penthouse with a private roof terrace, of course.
The developer acquired the 10-story, 122,000-square-foot property in June 2012, The Real Deal reported.
The 1910 building is on an L-shaped plot with 81 feet of frontage on Beach Street, 52 feet on Varick Street and 101 feet on St. John’s Lane, according to HFZ Capital’s site.
“There is a strong demand in the market for larger, loft style apartments within Tribeca,” Ziel Feldman, founder of HFZ, said in a statement last year. “We’re forging ahead with plans to convert it into a luxury, residential condominium that fits the character and style of the neighborhood.”
Considering there will be 101,737 square feet of residential space spread out among 27 units, “large” sounds about right. Douglas Elliman will be marketing the development.
BKSK is having quite the downtown run, with new projects announced this week at Tribeca’s 24 Leonard Street and Soho’s One Vandam. We have yet to see renderings for 11 Beach Street, but they’re going to be major.
Photo: HFZ Capital