The Real Deal New York

Tribeca condo project at 6 Cortlandt Alley gets Landmarks nod

January 14, 2014 03:53PM
By Hiten Samtani

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From left: 6 Cortlandt Alley (Credit: Tribeca Trib) and a rendering of the proposed building (Credit: TRA Studio)

From left: 6 Cortlandt Alley (Credit: Tribeca Trib) and a rendering of the proposed building (Credit: TRA Studio)

The city’s Landmarks Preservation Commission approved a seven-story Tribeca condominium project by Megalith Capital Management and Imperial Development Group, a spokesperson for Megalith told The Real Deal exclusively. The commission initially hesitated on the 6 Cortlandt Alley project.

“Eastern Tribeca has become one of the most desirable areas in lower Manhattan,” said Vishal Arora, a principal at Megalith, adding that the firm was excited about participating in the neighborhood’s “rapid transformation.”

The five-unit project will offer three-and-four-bedroom full-floor apartments and penthouses with generous amounts of outdoor space, said Ryan Kaplan of Imperial. “The entrance on Cortlandt Alley will provide homeowners privacy reminiscent of a London mews or a West Village side street.”

In December, the Landmarks commission deemed a proposed two-story glass addition for the Italianate-style building, as “too busy up there,” Commissioner Joan Gerner said. The building, built in the 1850s, is part of the Tribeca East Historic District. The approved plans included some aesthetic changes to the retail storefront and a less-visible addition, sources said.

The official address of the site is 372 Broadway. Development firm Abraham Leser and Partners bought it in 2005 for $9.5 million, but its plans to build condos at the site crashed along with the economy.

Stribling & Associates will market the TRA Studio-designed building, where both sales and construction are slated to kick off this year.

Megalith is also behind a condo conversion at Dumbo’s 200 Water Street.

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