The Real Deal New York

Colonnade to convert another Tribeca building to condos

By Hiten Samtani | June 18, 2013 06:00PM

Updated, 9:04 a.m., June 19: The Colonnade Group, a New York-based developer, is doing another condominium conversion in Tribeca, this time at a five-story building at 77 Warren Street, according to a description of the project on BuzzBuzzHome.

In December 2012, Colonnade paid $7.6 million for the 8,675-square-foot mixed-use building, located between Greenwich Street and West Broadway, according to PropertyShark.

The project will contain four full-floor, two-bedroom units and a retail condo on the ground floor Colonnade’s managing principal Greg Altshuler, told The Real Deal. The retail space is currently occupied by Warren 77, a sports bar owned by restaurateur Matt Abramcyk and former New York Rangers hockey player Sean Avery.

Since the condos won’t hit the market for another three months, Altshuler was loath to discuss specific pricing, but said it would be in the range of $1,700 to $1,800 per square foot, which would put the 1,700-square-foot units at between $2.89 million and $3.06 million. “We might be able to get more, but right now we’re looking at that,” he said.

“We’re looking to do an elegant renovation with some European flair and touch,” he added. No firm has yet been tapped to market the project.

Colonnade has tapped architect Andre Kikoski for the conversion. Kikoski – who is also working on Colonnade’s 174 Duane Street conversion project – said that he would look to create a “palette that speaks to the history and texture of Tribeca.”

The conversion would include installing wide-plank flooring, new kitchens and bathrooms; reconfiguring the existing bedrooms; and giving the lobby a facelift, Liam Harris, an associate at Kikoski’s firm, said. Construction is slated to begin in September and take roughly four months.

Colonnade plans to file building permit applications with the Department of Buildings in the coming weeks, Altshuler said, though he was not looking to raise the height of the building.