Former Soho garage now asking $6.5K for one-beds

July 21, 2010 03:30PM

55 Thompson Street and Richard Cantor, who is marketing the building

The site of the city’s first indoor parking garage has been transformed
into a loft-like rental building that will open in September with some
of the highest asking rents in Soho, the Wall Street Journal reported.
The nine-story, 38-unit building at 55 Thompson Street was called the
Tunnel Garage due to its proximity to the Holland Tunnel. The new
building has mostly one-bedroom apartments starting at $6,500 a month
and two-bedrooms starting at $12,000 a month. Amenities include
terraces, 10-foot ceilings, gas fireplaces, white oak floors and views
of the Empire State Building. After years of wrangling with local
preservationists and the city’s Bureau of Standards and Appeals,
developer Manhattan Skyline won permission to demolish the two-story
garage built in 1922, and to put up the residential building, which
also includes ground-floor retail space. Richard Cantor, a principal of
Cantor Pecorella, which is marketing the building, said the new units
will carry above-average rents because the building is unique, keeping
with “the low-rise European character of Soho” compared with most new
rentals found in large “cookie cutter” rental buildings. [WSJ]