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History of Tribeca Buildings
An update on plans for the Boltex building and Belle Reve
It’s been a year and a half since we first learned of plans to redesign the corner of Church and Walker — converting 32 Walker, demolishing 34 Walker and creating a half new residential complex. And while not locked in, plans are moving forward.
The buyer who just closed on 32 Walker, the 1954 taxpayer on the corner that was the bar Belle Reve, is working on a deal to purchase 32 Walker, the L-shaped building that is also 309 Church known as the Paramount/Boltex Textile Company building, for the company that purchased it in 1966.
The Belle Reve building (aka 305-309 Church) sold in February for $5.25 million, with the deed signed by Damien Smith, the founder of Prosper Property Group.
The plan is six (!) luxury apartments carved out of 29,000 square feet over seven stories.
It’s best to look at the massing drawing below to understand: the dark grey is the existing L-shaped Paramount/Boltex building, and the light gray is the new construction. The idea is to merge these two into a single cast iron project. They developers would add a floor to the entire structure, which is within zoning limits, and that floor would get the crown that mimics the current one plus a glass penthouse set back from the street wall. The new structure would lose the fire escapes.
Crain’s reported last month that Prosper Property Group filed demolition permits for 32 Walker. More soon when the deal for 34 Walker closes.
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I’m a total YIMBY but are you serious!?! Only 6 units?
This site is within walking distance to 6(!) major subway lines. Literally across the street is a tower over 500ft, also on the same block is a 300ft tower. The site also does not have historical protections.
IMO anything less than 1000 net new housing units is a policy failure. Instead we get 6 ultra luxury units that will be almost 5k square feet each. Textbook example of why we have a housing crisis.
Oh and the loss of Belle Reve, the best bar in Tribeca, still stings.
Six units that won’t even be occupied for half of the year instead of a solid bar for the neighborhood to enjoy.
Are there any plans for Belle Reve to re-open at different location?
It did briefly at Macao Trading, but that residency is now done.
What happened to the idea you posted on May 1, 2023, to have the new construction merge seamlessly with the older cast iron building that would surround it?
I think Landmarks rejected that. The usual thing is to have the new standout from the old.