From left: Justin Timberlake, his new home in the Soho Mews, and his old building, the Pearline Soap Factory

Six months after vacating his Tribeca condominium unit for a Soho penthouse, musician and actor Justin Timberlake finally unloaded his former home, Curbed reported. The 3,000-square-foot full-floor apartment in the Pearline Soap Factory at 414 Washington Street near Vestry Street– which Timberlake purchased for $4.689 million in 2008 — was asking $4.995 million. Adam Modlin, head of the Modlin Group, had the listing, which originally asked $5.25 million. Timberlake now resides in the Charles Gwathmey-designed Soho Mews at 311 West Broadway near Canal Street, where he bought a unit for $6.57 million in December. [Curbed] Comments

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Carmelo Anthony

No surprise here: he’s not even a full week into his tenure as a New York Knick, but the real estate industry is already buzzing about where Carmelo Anthony is going to live. According to the Post, Melo is taking a page out of teammate Amar’e Stoudemire’s book by searching for a downtown rental apartment in the ballpark of $30,000 per month. (Stoudemire lives in a $37,500-a-month condominium in the West Village). Among the buildings he’s reportedly interested in are 158 Mercer Street, where Jon Bon Jovi lives, and Soho Mews at 311 West Broadway, where Justin Timberlake owns a penthouse. [more]

In another recent coup for Soho Mews, the glitzy new condominium at 311 West Broadway whose luck appears to have turned around, famed designer Oscar de la Renta closed yesterday on a $2.4 million apartment at the Gwathmey Siegel & Associates-designed development, according to the New York Times. It’s the latest in a string of positive news for developer United American Land, which is now close to paying off its $129 million construction loan a few months prior to its maturation. The 68-unit project came on the market in 2007, but after the economy took a turn for the worse, sales slowed, buyers attempted to renege on their contracts, and prices were slashed by 12 to 15 percent. The fashion mogul, who lives on a large estate in Kent, Conn. and also has an apartment on Park Avenue, bought the two-bedroom, 1,400-square-foot loft for his son, Moises, who is also a designer, said listing brokerage East Egg Realty. It was originally listed for $2.7 million. [NYT]

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United American Land, the developer of the Soho Mews condominium, said it is close to paying off its $129 million construction loan to PB Capital, a few months before the loan matures, Crain’s reported. The payment is a major victory for the 68-unit project at 311 West Broadway, between Grand and Canal streets, which was designed by Gwathmey Siegel & Associates. Tough economic times forced the developer to slash prices by 12 to 15 percent at the seven-story building, which is now 70 percent sold. “It’s a successful project, given the adversity faced by the entire market,” said Albert Laboz, who runs United American Land with his two brothers. “Once we finish paying off the construction loan, we will start recouping our equity.” Peter Hannigan, a managing director at PB Capital, confirmed that the developer was about to pay off its loan. [Crain's]

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Last year’s imaginative marketing of Soho Mews, an all but completed
residential development at 311 West Broadway, seems to belong to a
vanished world. Not only was Calvin Klein hired to design several of
the units, but brokers were traveling across Europe in hopes of getting
the locals to invest their almighty euros in the inflated, but to them
relatively inexpensive, Manhattan real estate market. Now, of course, Europeans are suffering at least as much as we are from
the economic downturn and the euro, though off its lows of a few months
ago, has declined steeply against the dollar, with fewer tourists
reaching our shores. In the meantime, Soho Mews, with 68 apartments and nine stories tall,
has reached completion — aside from a few finishing touches — and the
results possess an undeniable dignity. more

Soho Mews

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