Step inside 67 Vestry, new Tribeca lofts in Andy Warhol's old haunt

By Ondel Hylton | From Future New York Thursday, October 8, 2020

All renderings credit of VUW

One of the last untapped development sites on Tribeca's Hudson River waterfront is going condo. 67 Vestry Street, a Romanesque Revival-style loft building built at the turn of the 19th century is being reconfigured into 13 full- and half-floor condominium residences after serving as a haven for artists for several decades. In addition to providing high-end homes for the high heeled, residents will be pampered with a 50-foot swimming pool, spa, fitness center, and several communal spaces.

The historic, albeit un-landmarked warehouse building has anchored the landfill waterfront site since 1896. With double-height arched openings on the ground floor and floral roundel ornaments along the seventh floor, the building was originally designed by Frederick Dinkelberg, an architect who later worked on the Flatiron Building, and was built for the Great Atlantic and Pacific Tea Company (A&P) founded in 1859 nearby in the callously-demolished Washington Market.

The recently-opened Pier 26 in Hudson River Park with 67 Vestry beyond to the left (CityRealty)

Fortunately, the vision moving forward diverges from an earlier proposal put forth by RFR's Aby Rosen that would have demolished the structure for a ground-up 11-story building with 42 residential units. The waterfront property basks in sunset Hudson River views and is across Vestry Street from 70 Vestry, a 47-unit condo co-developed by Related Companies and Ponte Equities. One of 70 Vestry's penthouses sold for $55M and it still holds the record for the most expensive apartment deal in the neighborhood. Directly south of 67 Vestry is River Lofts, a decade-old condo building where Meryl Streep recently sold her four-bedroom home for $15.8 million.

Given the location's desirability, Elliot Aronson’s Iliad Realty Group purchased the building from RFR for $55.5M in 2017. BP Architects is the architect of record and are working with Gachot Studios on the design. BP Architects was behind the design of major Manhattan condo conversions such as The Astor, The Apthorp, and 480 Central Park West.

VUW

Hudson River and Jersey City view from 67 Vestry Street

For 67 Vestry, there will be no more than two homes per floor. Several units will be duplexes and crowning the building will be a new three-level penthouse with more than 6,200 square feet of interior space and an additional 2,000 square feet of outdoor space. The graciously scaled full- and half-floor residences will embody the classic downtown loft lifestyle, providing serene spaces coupled with clean geometries. Furthermore, every home will offer views of the river through new, custom-designed Albertini tilt and turn windows.

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Amenities will include exercise and recreation rooms, as well as a 50-foot swimming pool, said to be housed in a dramatic double-height wood-paneled room. Delivery is anticipated for summer 2021. As the renovation quietly forges ahead, the building is now cloaked in construction netting while its exterior is being refurbished.

Historical photo of 67 Vestry prior to its first rooftop addition

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The addition will not be the building's first. In 1910 two floors were added to the Palazzo-like structure. That addition sports lighter-toned brickwork and was designed by Frank Helmle, the architect behind the Metropolitan Life Tower near Madison Square. Since the 1970s, the building served as the epicenter of Tribeca's creative scene, fostering the birth of the Dia Arts Foundation and housing notable artists who successfully adapted this building for residential use. Famous names such as Robert Wilson, John Chamberlain, Marisol, and Andy Warhol were among those who have lived at 67 Vestry. For a year, Warhol had a studio on the second floor, and his assistant Ronnie Cutrone was a longtime resident. Aby Rosen, the building's prior owner, reportedly owns over 100 Warhol pieces and once hosted a dinner in honor of John Chamberlain. We can only hope that the building's legacy as a nexus of the New York art world can somehow be conveyed to the public after the conversion.

While 67 Vestry was omitted from the Tribeca North Historic District created in 1992, preservationists ardently pitched for the building's designation. The calls for landmarking have quieted since the current plan will leave its rusticated, nook-and-cranny facade restored and largely intact.

With a newly-built row of luxury apartment buildings now dominating Tribeca waterfront, the building is just one of four historic buildings left from the Washington Market era on the river. The Washington Market was once the world's largest produce market and the final phase of its destruction came under the 1964 Washington Street Urban Renewal Plan. The sprawling market gave way to Independence Towers and the Borough of Manhattan Community College, and One World Trade Center.

Median closing condo prices in Tribeca have swooned in recent years. According to our market data, the median price per square for the neighborhood is now just under $1,900/ft². However, with Tribeca essentially devoid of readily-available development sites and a large portion of the neighborhood landmarked, it's safe to say the area will remain a safe investment as long as living on the waterfront remains viable.