Two Tribeca classics are starting the process of converting to residential on Franklin between Hudson and Varick — the 10-story Sofia Brothers storage warehouse and now 143 Franklin, the 1898 Renaissance revival-style warehouse just west of it, which sold in December for $34.5 million.

The building is six stories of yellow brick trimmed in limestone and terracotta. The renovations will restore the parapet and cornice, as well as preserve iron details on the facade. The fire escape, not part of the original building, will be removed.

The new building will have a penthouse and mechanicals on the roof and restored storefront doors.

The architect is studioMDA, which has worked on just about every gallery in the district.

Krinos Properties, part of Krinos Foods, an importer, distributor and manufacturer of Greek, Turkish and Eastern European specialty foods, acquired the property in 1973. They sold to CNY Group, a construction management and development company that converted the Woolworth Building along with tons of other big city projects. The LLC then took a mortgage in January for $49.5 million.

Urban Archeology was the longtime tenant of the entire building — all six floors, where they manufactured their new pieces — from 1995 until 2015. A year later the opened their current retail shop across the street.

You can read Tom Miller’s history of the building here.