The Real Deal New York

Sales launch at condo conversion of St. Patrick’s school

Time Equities and Hamlin's Nolita project at 34 Prince includes two townhouses

November 09, 2015 06:10PM

34 Prince Street

Rendering of 34 Prince Street in Nolita (inset, from left: Francis Greenburger and Abby Hamlin)

Time Equities and Hamlin Ventures’ residential conversion of the historic St. Patrick’s Old Cathedral School in Nolita is well underway, with condo sales kicking off last month and prices starting at more than $7.7 million.

Time’s Francis Greenburger and Hamlin’s Abby Hamlin acquired the property at 34 Prince Street last year from the Archdiocese of New York for $30.7 million. Sales began last month for the Residences at Prince, a seven-unit condo building to be completed next fall.

The residential conversion will also include two townhouses, for which sales have not yet started, while the church is retaining a 6,100-square-foot space for offices and community space at 32 Prince Street, according to the New York Times.

The only three-bedroom unit, measuring 2,734 square feet, is listing at $7.74 million, while all other units will have four or five bedrooms. A 3,673-square-foot duplex penthouse featuring three terraces is asking $13.1 million, while a 4,778-square-foot, five-bedroom duplex is listed for more than $11.6 million.

Condo residents will share a wine cellar, common garden, yoga studio and fitness center, while one of the townhouses – a 9,830-square-foot space with six bedrooms – will ask around $25 million.

A Federal-style, four-story building built in 1826, St. Patrick’s educated generations of local children in Lower Manhattan – absorbing and helping assimilate wave after wave of immigrants, from German, Irish and Italian to, later, Hispanics and Chinese. The school, which closed in 2010 and hit the market for $29 million in 2013, could count legendary filmmaker Martin Scorsese among its alumni.

The structure is designated a landmark, meaning its brick façade is undergoing a painstaking restoration. Its interior is being gutted, however, and a four- and six-story addition is rising in its rear garden. [NYT]Rey Mashayekhi