225 Rector Place | The Real Deal New York

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225 Rector Place

225 Rector Place
New York, NY 10280
(212) 757-5353
Website
Office, Residential, Conversion, Leasing/Rental, Other, Multifamily
225 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 faade. -MK
  • Address 225 Rector Place
  • neighborhood Battery Park City
  • borough Manhattan
  • owner Related Companies
  • developer Related Companies
  • owner entity VEN ONE RECTOR LLC
  • architect MONTROY ANDERSON DEMARCO DESIGN
  • sales/marketing Related Companies, Sherry Tobak
  • dob permit issue date 07/25/2008
  • tco issue date 09/13/2011
  • DOB FILE Link
  • floors 25
  • Year Built 1985
  • ag file plans 09/04/2015
  • residential units 303
  • square feet 287,819
  • block and lot 1-00016-7515
  • BIN 1000053
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225-Rector-Place-1 feature
12/30/15
...225 Rector Place in Battery Park City (inset: Augusten Burroughs) Though he probably...

114 Closing se FINAL.indd
07/21/14
...high-profile residential condo conversions during the boom, including the Sheffield, 225 Rector Place and the Park Columbus on the Upper West Side. But...

From left:
03/26/14
The cheapest single-family deals in Manhattan this week were pricier than sales in previous weeks, starting with a Hudson Heights co-op that topped the inexpensive...

511-541 West 25th Street
02/19/14
The Related Companies is switching gears, opting to sell a Far West Side property. The company had been snapping up properties and building new buildings...

From left: Sky View Parc in Flushing and 250 West Street in Tribeca
01/17/14
Sky View Parc in Flushing was the best-selling building of 2013, with 165 units sold during that year at a median price of $677,136, according...

Rector
01/12/14
...left: AG Eric Schneiderman, Yair Levy and a rendering of 225 Rector Place Once a powerful developer, Yair Levy was given a lifetime...

10/04/13
...225 Rector Place “Numbers to know” is a weekly web feature that catalogues...

225 Rector Place
04/03/13
...225 Rector Place 1. Related’s 225 Rector Place now 70 percent sold 2. Fannie, Freddie profits...

Brooklyn Army Terminal
01/30/13
...Terminal in Sunset Park 3. Half of Battery Park City’s 225 Rector Place sold in seven months 4. South Street Seaport catering hall leaves...

Rector Place and Yair Levy
01/18/13
...225 Rector Place and Yair Levy The wife and daughter of developer of...

levy
12/24/12
...Levy, the developer of Rector Square, a 304-unit condo at 225 Rector Place, lost control of Rector Square after Anglo Irish foreclosed on...

From left: A rendering of 225 Rector, Related chairman Stephen Ross
11/14/12
...Rector, Related chairman Stephen Ross The once-troubled condominium project at 225 Rector Place is now almost 50 percent sold, developer Related Companies said today...

From left: AG Eric Schneiderman, Yair Levy and a rendering of 225 Rector Place
08/17/12
New York Attorney General Eric Schneiderman won a major decision against developer Yair Levy, as a state Supreme Court judge upheld a 2011 decision that...

From left: Related Chairman Stephen Ross, 225 Rector Place and Yair Levy
05/04/12
...lawsuits, fraud and foreclosure in recent years, the condominium at 225 Rector Place will re-enter the market later this month, the New York...

Stuart Saft
04/29/12
Greenberg Traurig has ended talks on a possible deal to rescue law firm Dewey & LeBoeuf as it faces a possible bankruptcy filing this coming...

From left: 511 West 25th Street, One Madison Park and 225 Rector Place
01/23/12
...purchased debt on Manhattan properties including One Madison Park and 225 Rector Place (also known as Rector Square), BusinessWeek reported. The Related Real...


Yair_Levy_elert.jpg
08/12/11
...From left: Developr Yair Levy, Attorney General Eric Schneiderman and 225 Rector Place Developer Yair Levy has filed to overturn the $7.4 million judgment...

Unraveling_of_a_condo_king.jpg
06/29/11
...range of spending irregularities at the property. Rector Square, at 225 Rector Place, was foreclosed on by Anglo Irish Bank after contractors walked...

Unraveling_of_a_condo_king.jpg
05/26/11
From left: Yair Levy, Rector Square (source: PropertyShark) and Andrew Cuomo A state Supreme Court judge ruled that developer Yair Levy defrauded the Rector Square condominium in...

66605_Picture-2.jpg
01/21/11
...condo at a November auction of the 304-unit building at 225 Rector Place for the same amount of money, and sold the property...

Unraveling_of_a_condo_king.jpg
01/13/11
...company has been managing the Battery Park City property, at 225 Rector Place, under a receiver since last year. Sources said that Related...

Yair_Levy_elert.jpg
12/23/10
...Supreme Court, claims that residents of the 304-unit building, at 225 Rector Place, have been unable to refinance, sell or get approval for...

11/29/10
...lender. Meanwhile, the lender, which financed projects like Yair Levy's 225 Rector Place and the Apthorp, is rapidly unloading many of its troubled...

yair_levy_fb.jpg
11/17/10
...Anglo Irish, the senior lender at the 304-unit building at 225 Rector Place, plans to resell the building to new investors, according to...
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