Tribeca Space reenters market

Tribeca Space, a 74-unit condominium conversion at 25 Murray Street on the corner of Church Street, is reentering the market after a nearly two-year hiatus, according to Crain’s. The development, which first launched sales in March 2006, had initial success, with all of its units entering contract shortly after hitting the market. But when developer Thurcon Properties failed to get its temporary certificate of occupancy in a timely fashion, 40 percent of those buyers backed out. Thurcon did get its TCO in June 2008, but due to crummy market conditions, the property was off the market from May 1 until today, according to Michael Adorno, a spokesperson for the Corcoran Group. (Note: correction appended.) Bernice Leventhal of the Corcoran Group is handling the marketing for the building, where 28 units remain. Prices range from $900 per square foot to $1,300 per square foot, a 5 to 10 percent discount from the original asking prices. [Crain’s]