A beaver’s blessing? 15 William penthouse breaks FiDi square foot rental record

Unit at the former William Beaver House rented for $15,000 per month

New York /
Apr.April 24, 2013 06:00 PM

A penthouse at 15 William Street, the luxury condominium tower formerly known as the William Beaver House, has rented for the highest amount ever paid per square foot in the Financial District, The Real Deal has learned.

The 1,625-square-foot unit rented for the full ask of $15,000 a month, according to Platinium Properties CEO Khashy Eyn, whose firm represented both sides in the deal. That puts the effective rent at $111 per square foot per month, a neighborhood record, according to Eyn and others familiar with the area.

Part of the reason for the extraordinary pricing is the highly efficient floor plans at the swanky tower, at Beaver Street, Elie Pariente, CEO of Synergy New York, told The Real Deal.

“William Beaver would fetch high numbers per square foot, because [plans] are more efficient than elsewhere in the neighborhood,” said Pariente, who brokers many deals in the area. He said he had never seen a taking rent over about $105 per square foot in the FiDi.

The priciest listing in the area appears to belong to New York by Gehry, the tower at 8 Spruce Street, where one three-bedroom unit is asking $35,000 per month, or $156 per square foot, according to StreetEasy.

Just last month, speculation swirled that the tower would drop the “beaver” from its name, as newly appointed exclusive broker Town Residential confirmed its intentions to market the building as “15 William.” The building now appears as “15 William” on StreetEasy.

Platinum also rebranded recently, unveiling yesterday a new, updated logo and a revamped website with an improved user interface, Eyn said.

The two-bedroom, two-bathroom unit includes a 516-square-foot Private Terrace, triple exposures and a walk-in closet that “in any other apartment could be a third bedroom,” the listing said.

Platinum brokers Cash Bernard and Jeff Gordon represented the owner, an international investor whose name was not disclosed. The sold to an entity identified only as “La La La LLC,” for $2.67 million in 2009, city records show. Platinum’s Adam Mariucci and Tony Leondis represented the renters, but the firm declined to name them, except to say they are also international.

UPDATED: A previous version of this article incorrectly stated that the asking rent of $15,000 per month was also a record for the area, but in fact the Financial District’s New York by Gehry has asked higher rents, according to StreetEasy.


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