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New York

Still under construction, Tribeca’s Warren Lofts sees eight signed contracts

From left: Sonny Bazbaz and images of 37 Warren Street
From left: Sonny Bazbaz and images of 37 Warren Street

Despite being under construction, the conversion of 37 Warren Street in Tribeca into boutique condominiums has drawn a lot of attention from buyers, according to the New York Daily News.  One home to the Stumpp and Walter Company, a seed and bulb seller, then a multi-tenant office space, the structure at the corner of Warren and Church streets has already attracted more than 930 people expressing interest.

And all that interest is turning into sales for developer Sonny Bazbaz. Currently eight of the building’s 18 planned units are in contract.

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“It was astonishing,” James Lansill, senior managing director at Corcoran Sunshine Marketing Group, who is heading up marketing at the building. “We thought the building would be most valuable to buyers once we were well into construction. We had to change strategy and build a temporary space in the building to meet buyers.”

As The Real Deal previously reported, Bazbaz began marketing the Art Deco building in July, asking $2.48 million for a two-bedroom, two-bathroom on a lower floor and up to $4.22 million for a three-bedroom, two-bathroom on the seventh floor. Asking prices for the penthouses will be released as they become closer to completion. [NYDN] — Christopher Cameron

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Condo Conversions