Two Twenty Five Rector Place
Two Twenty Five Rector Place
225 Rector Place is a 24-story, 286-unit residential condominium building in Battery Park City
, at the southwestern tip of Manhattan. Related Companies
, the privately-held, New York City
-based developer and landlord that owns and manages $20 billion worth of real estate across the country, erected it in 1985, sold it to YL Real Estate
Developers in 2005, and bought it back in 2011. Related originally built the tower, then called Parc Place, as a rental property. Gruzen Samton Steinglass, now Gruzen Samton LLP, designed the building. Related sold it in 2005 for $165 million as part of a portfolio transaction that also included Columbus Green at 101 West 87th Street. Yair Levy
, of YL Real Estate
Developers, renamed it Rector Square and began converting the building to condos, but the developer defaulted on the mortgage loan. Anglo Irish Bank
foreclosed on the property in November 2010, then sold it to Related for $82.8 million in 2011.
Richard J. DeMarco of Montroy Andersen Design Group Inc. is the architect for the conversion. Irish interiors firm Clodagh designed the buildings interiors and lobby. Amenities include a pool, rooftop terrace, gym, and childrens playroom. Twenty percent of units are available for moderate-income tenants, in exchange for tax breaks for the building owner. It has a limestone base and a red brick faÂade.
225 Rector Place
Battery Park City
YL Real Estate Developers
VEN ONE RECTOR LLC
MONTROY ANDERSON DEMARCO DESIGN
Related Companies, Sherry Tobak
dob permit issue date
tco issue date
ag file plans
block and lot 1-00016-7515
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