In the News: 71 Laight

Courtesy Curbed

••• “Developer Alvaro Arranz purchased an old warehouse and parking garage at 401 Washington Street, aka 71 Laight Street, in 2007, but he didn’t want to shake Tribeca up too much. Or so we assume, because he had architect Morris Adjmi design a building (right) for the garage site that would be an exact likeness of the warehouse next door, except that it would be made out of aluminum and have 32 condos inside. But construction soon froze. There’s finally a thaw, of sorts. The developer now wants another developer to pick up the site for $65 million and finish putting up Adjmi’s design. Hey, we get it—it’s always easier to have someone else do it. The building’s broker tells The Real Deal the developer is just testing whether the market has improved enough to sell the building. The condos would eventually hit the market for $1,900 to $1,950/square foot.” (Curbed)

••• A single mother and her four kids live in a two-bedroom in the Glass House on Spring. (New York Daily News)

••• “The $150 million [Park51] still remains on a slow track to construction. The developer of the site has said groundbreaking is probably three years away. The nonprofit group that would run the center is still being established. A fundraising campaign has yet to begin.” (New York Post via Curbed)

••• The Courtyard by Marriott Soho (Varick between King and Charlton) is open. Take a look—this is why northern Tribeca got rezoned. (HotelChatter)

 

Comments are closed.