After a few years of near-zero interest rates, the Federal Reserve has indicated that it will likely raise them in March 2022. The hope is that this move will eventually rein in inflation. It could also cool New York's red-hot real estate market, which has experienced a strong buying spree in recent months.
Meanwhile, unusually big end-of-the-year bonuses are burning a hole in certain professionals’ pockets. Bankers and traders, much like those found at Lower Manhattan exchanges and offices, saw a jump in bonuses not seen since the Great Recession, with the very top predicted to collect an extra $5 million to $10 million, following a year of mergers, takeovers, and IPOs. This is not limited to the finance sector; Forbes reports that Apple offered significant stock bonuses in a preemptive move to retain talent, and Meta (nee Facebook) is offering high salaries to woo talent.
The finance and tech sectors are known for their desire to have the biggest and the best, which would make Tribeca a natural fit. Many of the industrial buildings of yesteryear have been converted to luxurious residences, and new development has gone up with approval from the Landmarks Preservation Commission ("Landmarks") where required. Add in easy access to some of the city's top restaurants and nightlife, as well as the offices some may be expected to return to in the coming weeks, and it's little surprise that Tribeca sold its largest number of apartments on record (533) in 2021. This shows in prices - CityRealty data shows that the median sale price per square foot of Tribeca condos has thus far come in at $2,201, higher than pre-pandemic prices.
Below, we take a look at six new development penthouses. Some are located in historic conversions, others in well-conceived new construction, and all offer expansive floor plans, top-of-the-line appliances and finishes, private outdoor space, and prime downtown addresses.
Meanwhile, unusually big end-of-the-year bonuses are burning a hole in certain professionals’ pockets. Bankers and traders, much like those found at Lower Manhattan exchanges and offices, saw a jump in bonuses not seen since the Great Recession, with the very top predicted to collect an extra $5 million to $10 million, following a year of mergers, takeovers, and IPOs. This is not limited to the finance sector; Forbes reports that Apple offered significant stock bonuses in a preemptive move to retain talent, and Meta (nee Facebook) is offering high salaries to woo talent.
The finance and tech sectors are known for their desire to have the biggest and the best, which would make Tribeca a natural fit. Many of the industrial buildings of yesteryear have been converted to luxurious residences, and new development has gone up with approval from the Landmarks Preservation Commission ("Landmarks") where required. Add in easy access to some of the city's top restaurants and nightlife, as well as the offices some may be expected to return to in the coming weeks, and it's little surprise that Tribeca sold its largest number of apartments on record (533) in 2021. This shows in prices - CityRealty data shows that the median sale price per square foot of Tribeca condos has thus far come in at $2,201, higher than pre-pandemic prices.
Below, we take a look at six new development penthouses. Some are located in historic conversions, others in well-conceived new construction, and all offer expansive floor plans, top-of-the-line appliances and finishes, private outdoor space, and prime downtown addresses.
In this article:
83 Walker Street via Morris Adjmi Architects
↓ 83 Walker Street is located in the Tribeca East Historic District, and Landmarks described the design by Morris Adjmi Architects as “a contemporary and sympathetic complement” to the surrounding loft buildings. It is topped by a full-floor penthouse with direct elevator entry and oversized arched windows that allow for abundant light and expansive views.
Interiors via Corcoran
↓ The center of the open plan entertaining area is a chef’s kitchen with a center island and top-of-the-line appliances.
↓ Both bedrooms are at the rear of the residence and offer access to a south-facing private balcony. The primary bedroom boasts a walk-in closet and spa-like en suite bath.
↓ The private keyed elevator goes up to a 400-square-foot private roof terrace with open views of One World Trade Center, 56 Leonard Street, and the rest of the rapidly evolving Lower Manhattan skyline.
From the Listing: Sitting atop this architecturally stunning building designed by Morris Adjmi, the penthouse at 83 Walker is a bridge from the old New York of cast iron buildings to a bold modern interpretation that keeps the best of those charming times but feels perfect for the way we live today. Stepping out from your private keyed elevator you are struck by the quality of light with expansive views uptown through the sexy high arched windows that define the facade of 83 Walker. The spacious open plan living, dining and kitchen with soaring ceilings is a sanctuary for today's living and entertaining. The building features a virtual doorman, double-height lobby with separate package room and a key-locked elevator that enters into each private residence. See floor plan and full details here.
465 Washington Street via CityRealty
↓ The ninth and tenth floors of 465 Washington Street, a five-story warehouse turned ten-story luxury condominium just outside the Tribeca North Historic District, may be combined into a massive contemporary penthouse with high ceilings, luxurious finishes, private outdoor space, and a grand staircase connecting both levels.
Interiors via Compass
↓ The beautifully designed open kitchen is outfitted with custom Italian self-close cabinetry, Calacatta slab marble countertops and backsplash, fully integrated Wolf and Sub-Zero appliances, and brushed nickel Waterworks fixtures.
↓ Four of the five bedrooms are a on a lower level for excellent privacy, and all look out on city or river views. The primary suite boasts a windowed walk-in closet and enough room for a sitting area.
↓ The primary bath has a custom Italian double vanity with marble counter, separate tub and shower outfitted in Venatino Statuarietto marble, radiant heated floors, and Waterworks fixtures.
↓ A private roof terrace has room for multiple seating areas and looks out on spectacular skyline and river views.
From the Listing: Welcome to 465 Washington, where industrial Tribeca meets tasteful elegance on the most peaceful residential street in Tribeca. The ninth and tenth floors can be crafted into a contemporary penthouse duplex home, with a spacious grand staircase. The residence features direct entry into a sprawling five-bedroom, four full-bath, 1 half-bath home with 9.5" wide plank wood flooring, nearly 10' ceilings, and views of the Hudson River. This PH two-story residence features its own private roof terrace, perfect for lounging and entertaining, with spectacular river, city, and downtown skyline views. See floor plan and full details here.
All images of Cast Iron House via Serhant
↓ More than 100 years after 67 Franklin Street was built as a textile factory, Landmarks unanimously approved a pair of penthouses designed by Pritzker Prize laureate Shigeru Ban. The sliding curtain wall windows allow for seamless indoor/outdoor living, and are highly reminiscent of Ban’s Metal Shutter Houses near the High Line.
↓ Upon arriving via key-locked elevator, an entry hall leads to a massive living area with 20-foot ceilings and sliding glass walls.
↓ The open kitchen is outfitted with an eat-in waterfall island, custom white matte lacquer cabinetry, and fully integrated Gaggenau appliances.
↓ Three of the four bedrooms are on the upper level, and the primary bedroom boasts sliding glass windows and a windowed walk-in closet.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
↓ The luxurious primary bath features a free-standing Kaldewei soaking tub, a walk-in shower, radiant heated marble floors, and a Corian double vanity.
From the Listing: Landmark atop a Landmark - introducing this majestic duplex penthouse perched atop a 19th-century cast iron landmark. Award winning Shigeru Ban designed this 4-bedroom (plus den or convertible fifth bedroom), 3.5-bathroom home with sliding curtain wall windows that open onto a 1,510-square-foot terrace and allow for seamless indoor-outdoor living. Northern and eastern light spills onto gorgeous white oak floors. Modern comforts include key-locked elevator access, multi-zone heating and cooling, and a laundry room with a utility sink and Miele washer and vented dryer.
See floor plan and full details here.
140 Franklin Street via CityRealty
↓ Many Tribeca buildings tout loft-like interiors, but that is truly the case at 140 Franklin Street - it was built for a manufacturer of wrapping papers in 1887 and converted to a 12-unit condominium in 2000. The penthouse occupies the top two floors, and is rich in architectural details like oversized windows, skylights, and original beams and columns.
Interiors via Douglas Elliman
↓ Interiors by acclaimed designer Robert Stilin are underscored by smart home technology, and both levels are connected by a custom wrought steel staircase.
↓ Just off the living room, a chef’s kitchen offers endless prep and storage space, custom waxed oak cabinetry, and an enviable appliance package that includes three dishwashers, a 150-bottle wine fridge, and a built-in Miele coffee machine.
↓ The crowning glory is a private rooftop terrace with a grill, separate dining and lounging sections, and gorgeous skyline views.
From the Listing: This rare and important pre-war loft condominium, built by Albert Wagner in 1887, offers 12 exclusive lofts. Encompassing the entire top 2 floors of this building, this premier penthouse is situated in an ultra-discreet building that offers onsite staff and a full-time doorman. This loft spans over 4,000 square feet of interior living that is intelligently designed and exceptionally renovated. The exterior component provides room for entertainment with privacy and has magical views of the New York City skyline that stretches the entire west and southern portion of Tribeca. See floor plan and full details here.
All images of Warren Lofts via Douglas Elliman
↓ 37 Warren Street was originally constructed in 1931 for the Stumpp & Warren Company, and was expanded and converted to Warren Lofts, an 18-unit full-service condominium, in 2014. The penthouse is located in the new glass and copper addition, and has been completely redesigned by Steven Harris Architects.
↓ Residents arrive via private elevator landing, and a gracious foyer leads to a living room with a gas fireplace and Zebrawood bar.
↓ The living room, Great Room, and formal dining room all offer access to a wraparound terrace with a three-season bloom and multiple seating areas, allowing for effortless indoor/outdoor entertaining.
↓ There is a separate butler’s pantry with endless storage and prep areas off the chef’s kitchen, which has been stylishly reconfigured and outfitted with top-of-the-line appliances, custom cabinetry, and marble countertops.
↓ The lower level is completely devoted to entertaining, and the bedroom suites are on the upper level for optimal privacy.
From the Listing: Elegance and grandeur meets functionality and practicality in PHCD at 37 Warren Street. A one-of-a-kind duplex, this bespoke residence was completely redesigned by Steven Harris Architects, bringing in dynamic elements that are complemented by a truly luxurious palette of materials. Artfully crafted and masterfully executed, the space has been transformed, offering the highest level of design, scale and architecture. Ascending the staircase to the sleeping quarters, the guest wing features three generously proportioned bedrooms with ample closet space, and beautifully appointed en suite bathrooms. This boutique condo building is home to just seventeen residences and offers a doorman, private storage, fitness room, common roof deck, and cold storage for deliveries. See floor plan and full details here.
All images of The Woolworth Tower Residences via Sotheby's International Realty
↓ The Neo-Gothic Woolworth Tower was known as the “Cathedral of Commerce” when it was built for the retail magnate in 1912, and is now home to some of the most prestigious and luxurious condos in Manhattan. Among them is this pavilion penthouse with soaring ceilings, oversized arched windows, and skylights that fill the home with abundant natural light and views.
↓ A duplex terrace measures a total of 2,770 square feet, and looks out on jaw-dropping views of the Hudson River and the Lower Manhattan skyline.
↓ The skylit kitchen has been outfitted with custom cabinetry by The Molteni Group, Calacatta Caldi marble countertops, and professional-caliber Miele appliances that include a wine fridge and two dishwashers.
↓ The library and three of the bedrooms offer access to the lower level of the duplex terrace. Among them is the primary suite, which comes with a morning kitchen and a walk-in closet.
↓ The sumptuous primary bath features a free-standing Porcelanosa soaking tub, steam shower, Calacatta Caldia radiant heated floors, and dual vanity with Dornbacht fixtures.
From the Listing: Spanning over 6,711 square feet of interior space on the 29th floor, this 5-bedroom, 4-bathroom plus two powder rooms is the perfect blend of Tribeca loft meets historic penthouse. With six skylights, up to 22-foot ceilings, and duplex terrace, there is no shortage of natural light throughout this residence. Unmatched cinematic views of the surrounding cityscape in addition to unique sightlines of the building itself, The Pavilion residences offer a once in a lifetime opportunity to live in the iconic Woolworth Tower. See floor plan and full details here.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
