Bizzi Partners’ Tribeca condos to start at $1.3M

Sales at the Leonard launch today
By Guelda Voien | July 17, 2013 12:00PM

The Latest Project From Setai Fifth Avenue developer Bizzi & Partners – a 66-unit Tribeca condominium conversion – is set to launch sales this afternoon, a representative for the developer told The Real Deal. See renderings below.

Drawings show the loft-like spaces designed by SLCE Architects at 350 Broadway — renamed 101 Leonard Street — which should be complete by next summer, according to the representative.

The building will be known as the Leonard, as previously reported, and will offer one-, two- and three-bedroom apartments, along with three penthouses, all marketed by Douglas Elliman Development Marketing. The prices for those units start at $1.3 million for a one-bedroom, range from $1.9 million to $2.5 million for a two-bedroom, and from $3.05 million to $3.4 million for a three-bedroom, the Milan-based developer told TRD.

Only one penthouse will be marketed in the first round of offerings: Penthouse B, a three-bedroom, four-bathroom asking $5.5 million, the developer said. That works out to about $2,063 per square foot for the 2,666-square-foot space, well above the median price per square foot for condos in Tribeca, which StreetEasy shows is about $1,300 per square foot.

Bizzi bought the 12-story tower, previously an office building, for $53 million in January, as The Real Deal reported.

Bizzi’s Other Projects Include 400 Fifth Avenue, A Combination Condominium And Hotel Known As The Setai Fifth Avenue. Last October, Bizzi sold the hotel portion of the development to hospitality operator Great Eagle Group for $229 million.