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Robert Ripps book
History of Tribeca Buildings
Cluster of buildings at Warren and West Broadway are for sale
James Bogardus sent along an offering plan for what they are calling 80 West Broadway at the northwest corner with Warren, though in fact the site takes in 88 West Broadway as well as 72 and 74 Warren around the corner.
It’s worth a click on the link here to see the rendering of what the real estate investment firm JLL imagines could be up to 56,000 square feet of condos. They tuck 72 Warren into the west side of the building, filling in the lot on Warren.
The cluster of buildings were sold in 2021 for $37 million to 6R Tribeca Owner, which has its offices at 72 Warren. It looks like there was another mortgage of $5 million taken this past February.
The plan shows the corner site as separate from the other two — 88 West Broadway and 72 Warren are actually one L-shaped tax lot, and then 74 Warren is just west of that. The corner ends up being a 50 x 100-foot lot with an FAR of 7.52, which, with some air rights from the smaller buildings, allows them 56,164 buildable square feet. They are drawing it as a 12-story building; without doing FAR calculations, which is above my pay grade, my guess is it ends up being close to the size of the Warren Street Hotel down the block.
“Ownership at 80 West Broadway controls the properties immediately bordering the Site (72 Warren & 88 W Broadway) as well as 74 Warren and has transferred the excess air rights from these properties to 80 West Broadway to maximize the development potential,” the plan says, “an ideal size for a luxury boutique condo project.”
Some other tidbits about the neighborhood from the plan:
- average home values of nearly $3.5 million
- average household income three times greater than the national average
- average days on the market for condos was the lowest in the borough, while the average price per square foot grew 3% year over year according to Corcoran
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What’s the lot diagonally across the street from 80 West Broadway on the mark for? Seems like an easier site to develop.
It’s for sale, and I agree! Take that one!
That site is subject to a laundry list of structural issues, violations, and lawsuits. Sadly, will likely remain a vacant eyesore for a long time.
Question – now that the developer is bust, who do we call to get the wooden structures on the street removed? The serve no purpose, block the sidewalk, accumulate trash, and attract rats.
Unfortunate this plot is not landmarked. Guarantees another bit of high end architectural nothingness.
So they will tear down the existing buildings for something that might be 4 more stories (unclear how many net new housing units would be created).
This site is within 1 block of two major subway stops, and this site is grossly under zone IMO. Just another example of how unserious our City is about its housing crisis.
We can’t even bring the subway to underserved communities (see the failure of the 2nd Ave Subway extension). Obviously we will fail and bringing more housing to locations that are transit rich.
Hochul’s recent actions just hit home how nothing is going to change and nothing is going to get better.
I *think* the maximum height limit is 145 feet for what is the equivalent of a R9A zoning site, so if they tore down the other two buildings on the site, they could go higher. (James B. can likely do much better at this than me.) But I think there may be tenants in the L-shaped building…