The Real Deal New York

New Condos: Tribeca
5 Franklin Place

July 10, 2014 11:21AM

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5 Franklin Place 1
5 Franklin Place 4

The Elad Group-developed Franklin Place, which stalled during the financial crisis, finally hit the market in May 2013 — and is on track to be sold out soon. Just two units at the 20-story, 53-unit new condo project was still up for grabs at press time. The building has been touted as one of the developments redefining — and driving up prices —in the East Tribeca corridor. The ODA-designed building will have a doorman, a gym, a rooftop swimming pool, a children’s playroom and a live-in super. The apartments, designed by Andres Escobar, feature Poggenpohl cabinetry, integrated Sub-Zero refrigerators, Bosch appliances, marble bathrooms and five-inch plank oak hardwood floors throughout. Contact www.tribecafranklinpl.com or 212-966-5400.

NAME5 Franklin PlacePRICE RANGE$1,450,000 to $3,100,000
ADDRESS5 Franklin PlaceSIZE RANGE752 Sq Ft to 1,702 Sq Ft
TYPENew buildingAVG PPSF$1,875
TOTAL UNITS53TAX ABATEMENTYes
DEVELOPERElad GroupAVG COMMON CHARGE$1.18/sf
BROKERCantor PecorellaFINISHED BY2014

Source: Streeteasy, BuzzBuzzHome, TRD, news reports. Data as of early July. List primarily includes Manhattan condo projects that have started sales since Jan. 1, 2010 that have units on market. Projects that started sales since Jan. 1, 2010 that subsequently sold out, have all units in contract or don’t currently have any listings on the market were excluded in most cases. “Price range,” “Size range,” “Avg PPSF (Price Per Square Foot)” and “Common Charge” refer to units currently for sale.

 

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