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Tribeca Green in BPC is going coop
In what seems to be a neighborhood real estate trend, Tribeca Green, the Robert A.M. Stern building on the corner of Warren and River Terrace in Battery Park City, originally completed in 1999, is converting from a rental to a coop, and the architect is reworking the building now. Related is the developer.
When sales open early next year, there will be 270 units in studio to four-bedroom configurations. They are calling the building a condop, and since that seems to have a several definitions, I will give you theirs: co-op with condo-style management and rules. The building is 24 stories and looks out over Teardrop Park and North End Avenue on the east side. (The river is on the west.)
Related and Robert A.M. Stern also did 70 Vestry together. (They also did Superior Ink, where, as a printer, I used to buy…ink!). And other condops include the Solaire in BPC, immediately to the south of this building, which is being redone by COOKFOX, and Truffles Tribeca, which is now 450 Washington and is also being reconfigured as we speak by Related.
Oddly (or maybe not) they are marketing the building as being close to PS 234, but of course their zoned school is PS 89. The building will have a children’s playroom, a teen lounge and kitchen, a fitness center and yoga studio, co-working business center, an indoor parking garage, bike storage room, dog washroom and Dog City daycare and walk services. It was also one of the first LEED Gold residential buildings in the nation and has solar panels, bicycle parking, charging stations for electric vehicles, and NEST smart thermostats.
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“co-op with condo-style management and rules” is meaningless. Co-ops and condos differ dramatically in financial terms, regardless of whether the “rules” will be lax. You will not own your apartment, but rather shares in a corporation.
There’s only one correct definition of a condop…and “co-op with condo rules” ain’t it.
Aside from the weird “condop” status, this renovation has been full of multiple building violations up until this point. Frankly, the way Related has handled this conversion for its tenants is reprehensible, from people getting stuck in elevators, turning the AC off for three days in August, regularity occurring unexpected water shut offs, to the common ventilation system not working for a few months (oh and it’s still not working). I could go on. When asked for more information on building status, on-site Related managers claim to not know when things will be completed and act obtuse or indifferent. It’s a real shit show over here. And that’s saying it nicely.
What happened to the affordable housing tenants who live there? 80/20 building yes?
If you’re looking to buy here, look away because the management who will be running the building are horrific. Management turned the air conditioning off to the units for several days in the middle of summer. Management has turned the water off to the units for the entire day multiple times, and sometimes without any advance notice. Horrific odors and dust in the building have caused children to develop lingering coughs. The elevators (“upgraded” for the conversion) don’t work and break down frequently, trapping people inside for long periods of time. There were so many safety and health complaints filed by residents that the city just this week sent surprise building and fire inspectors to go unit to unit and identify the (many) violations. Because it’s a condop, this is the management team who will be running the building and not the unit owners… beware!
I’m a longtime resident and would say two things:
1. The doormen, concierges and porters here are AMAZING. Like family to us.
2. If you’re thinking about buying, do your homework re: how Related has treated its residents during construction. Officials from 311 were here this week and told us that, since the project began, complaints have been filed with their office due to a litany of issues. These include:
1. People being stuck in the elevators on multiple occasions. And the elevators in question were installed this year.
2. Dust, particles and other debris present on a daily basis in resident hallways and elevators.
3. Fresh air vents leading into apartments largely inoperable.
4. Full-day water shutoffs in apartments with little – to no – notice.
5. AC units in building turned off in August.
6. Fire doors routinely locked and inaccessible in the intended manner i.e., key fobs don’t work.
And that’s just the tip of the iceberg. Like I said, do your homework if you want to buy.
what will happen to affordable tenants? will they be offered other housing options?
Most of the agencies charged with overseeing tenant harassment and safety descended on Tribeca Green this week to investigate and inspect the property. Future buyers should be aware of management’s lack of respect for its tenants’ health and safety. Also, many of the new supposed “improvements” (e.g., to HVAC and elevators) have only created problems that didn’t previously exist.
Related has been doing this with multiple rentals past couple years and ongoing through out city. Turning rental buildings into condo or co-op etc.
This sounds so unpleasant to be dealing for current residents may I add. Management at its finest with a condop…
As someone who lived at Tribeca Green for eight years, I would not choose to buy here.
The way the building is constructed can cause quality of life issues:
–There is not adequate sound insulation so you can hear loud or heavy-walking neighbours.
–The units and ventilation ducts are no longer airtight, so cooking doors and parking garage fumes come in through the “fresh” air vents and unsealed cracks.
–There are only two passenger elevators so long lines and delays during rush hour are common.
–There’s an infestation of silverfish, which makes me suspect water damage or mold within the building.
I don’t know if the construction is addressing these issues, so buyer beware.
I agree with the comments previously posted and have complained to management multiple times with no results related to lack of communication, fresh air vents not working, etc. Most recently, tenants in one of the lines were asked to provide PTE for construction to commence in occupied residences. The scope of the work would require tenants to empty an entire closet for demolition of a closet, installation of pipes, and new walls. This is all set to occur over the course of 4 days and no compensation or separate accommodations are being offered by Related as their assumption is that cleaning will occur daily so tenants will have use of their apartments. Buyer Beware.
Thank you to everyone, particularly the longtime residents, who have commented here with such detail. My husband and I saw the listing for the new units and thought they were very reasonably priced for the area until we saw the detailed feedback here. Any updates on how the construction has progressed, or living conditions in the building? We are likely scared away by the experience others have had, but interested in hearing if anything has changed over the last six months. Thank you.
I am a long-time resident (10 years) and I am not choosing to buy here due to many of the issues noted above. The lobby and common areas look nice, and the workers seem to be implementing finishing touches. Amenities are not open to current residents (as of end of May / beginning of June). Many of the problems noted above have continued such as: 1) Recently refurbished elevators out of service / broken; 2) Very strong cooking smells (such as fish, garlic, cruciferous vegetables) fill hallways and permeate into neighboring apartments 3) Ad hoc water shut-downs continue to occur, but have been less frequent recently; 4) electric shutdowns, although less common than water-shutdowns have also occurred for 1-5 hours; 5) Management is the same as described above; 6) Doormen and building staff (other than management) continue to be very professional and helpful. My understanding is that new owners will be moving in soon (estimated July) and the next phase of renovations will be starting soon as well. If you consider buying, I recommend asking about the PTAC units (make sure you purchase a renovated unit with brand new heaters / A/C units), and whether/when the fresh air ventilation system will be fixed / operational. I would also inspect the seals in the windows of any unit you decide to purchase, as one of my windows doesn’t close tightly anymore and lets in cold air in the winter.
Does anybody have details on the tenant litigation that has been actioned versus Related and the attorney general? Seems pretty serious. I would hesitate to buy anything in this building with the spectre of outstanding litigation over tenant protection rights.
What happens to the poor folks who have already signed contracts to buy here?