403 Greenwich Street has finally seen its 8-story residential building top out between Beach and Hubert Streets in Tribeca. Construction began at the site in 2014, after waiting in limbo for a few years in the Landmarks Preservation Commission. The stalled design, headed up by Joseph Pell Lombardi, had called for an all-glass brick building that would have been the first of its kind. Now, however, the building has risen under the sensible eyes of Morris Adjmi Architects, whose design features a black metal façade with large casement windows that fits nicely within the project’s historic surroundings.
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Colonnade Group and Olympic Real Estate are anticipating completion for their development by 2017, and the team tapped Wonder Works for construction. 403 Greenwich will ultimately dedicate its 16,723 feet to residential space and host four full-floor loft-style units and a triplex on top. The penthouse will host its own private terrace that will offer gorgeous views of the Hudson River. Interior renderings promise spacious apartments and light-filled apartments.
Average closing prices for Tribeca condos currently stand at $2,369 per square foot, up from $1,949 per square foot recorded August of last year. Prices of available condo listings in the neighborhood come in at a median of $5,500,000 or $2,352 per square foot.
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Contributing Writer
Katy Cornell
Katy Cornell is a Long Island native with a passion for writing about real estate in the big city. She recently graduated from the University of Virginia with a BA in English and is a frequent contributor to CityRealty's Market Insight and NYC real estate blog 6sqft.
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