Permits have sailed in for The Peebles Corporation and Elad Group’s massive conversion of 108 Leonard Street in Tribeca.
The city sold the landmarked 13-story building to the developers for $160 million, The Real Deal reported. The sale of the 400,000-square-foot building, also known as 346 Broadway, closed in December 2013.
The late 19th-century Renaissance Revival structure will be renovated by luminous, preservation-minded Beyer Blinder Belle, according to the plan exam application filed today. The project will have 2,199 square feet of commercial space, 7,210 square feet of community facility space and a whopping 364,137 square feet of residential space. As part of the deal with the city, announced March 2013, the developers agreed to establish a digital arts and media center for public use at the site.
Rising 198 feet, the mixed-use development will have enclosed parking for 58 cars, storage, three bike rooms and first-floor retail, with a community facility in the basement.
108 Leonard was formerly home to the New York City Criminal Court. It is reportedly the single largest building ever sold by the City of New York, according to The Peebles Corporation’s site. This project also marks Miami developer Don Peebles’ first acquisition in the city, The Real Deal reported.
Back in December 2013, Peebles told the New York Post that the development would consist of 110 to 140 condo units and that the developers “are considering a five-star plus boutique hotel of between 50 and 75 suites.” We don’t see a hotel portion laid out in the permits filed. Also, construction signage at the site makes no mention of a hotel component:
According to construction signage, the block-long project will be finished in the first quarter of 2017. It’s across the street from Bizzi & Partners’ The Leonard, a 66-unit condo conversion at 101 Leonard.
In 2012, Tribeca Citizen did a right solid photo tour of the interiors here. We stopped by the development, where construction work is underway. First, a panoramic shot of the building, taken from Leonard Street (ontological disclaimer: the structure doesn’t bend like that):
More shots taken from Leonard Street:
The domed entrance at 346 Broadway: