Earlier today, owners of 308 Canal Street and a smaller walk-up at 310 Canal, went before the Landmarks Preservation Commission to gain approvals for a two-story addition and rehabilitation on the pair 150-year-old buildings. Permits filed earlier this spring indicate the owners want to convert the buildings into eight large residential units with two ground floor retail spaces. The newly constructed floors would elevate the 50- and 57-foot-tall buildings to 73-feet, and would hold two duplex apartments. The design presented by Paul A. Castrucci Architect, shows the addition would be clad with metal panels, and have conventional square windows and steel railings. The storefronts of both buildings would also be restored.
The commissioners weren’t entirely against the building’s addition or design, but they did hold reservations. The commission found the exterior of gunmetal grey design a bit too “utilitarian”, and thought the two-story mansard roof was too uncommon in the area. Ultimately, the body chose not to make a decision, and asked the architect to come back with a one-story proposal.
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In 2014, artists and designers shed a tear upon learning the news that Canal Street’s legendary Pearl Paint art store was closing its doors. After 80 years in business, its two Canal Street buildings at 306 Canal Street and 308 Canal Street were sold in separate transactions to Vornado Realty Trust and Trans World Equities. The rehabilitation and conversion of the larger building - 306 Canal, aka 42 Lispenard Street is just about complete and its distinctive red and white painted facade has already been traded in for a more historically-correct vanilla. Currently, the building two listings on the market including a penthouse with an ask of $7.75 million or $3,080 per square foot.
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