The Real Deal New York

Youngwoo’s 70 Pine up for landmarking

March 28, 2011 10:16AM

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70 Pine Street, Young Woo of Youngwoo & Associates

The 66-story Art Deco tower at 70 Pine Street, the former American International Group tower where developer Youngwoo & Associates is planning a partial condominium conversion, is going up for landmarking. According to the Post, the city’s Landmarks Preservation Commission will hold a public hearing next month on the skyscraper, which was built by Clinton & Russel, Holton & George in 1932 and is currently the tallest building in Lower Manhattan. Peers of 70 Pine, like the Empire State Building, the Chrysler Building and Donald Trump’s 40 Wall Street, all enjoy protection as landmarks, meaning any changes to their structures must be first approved by the LPC. Youngwoo, which purchased the property from AIG in 2009 in a $150 million deal that also included the neighboring 72 Wall Street, is leasing out the lower floors as office space while planning luxury condos for the upper portion of the building. [Post]

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