Ultra-wide Tribeca building up for grabs for $24M

TRD New York /
Nov.November 22, 2013 05:10 PM

A 42-foot-wide mixed-use Tribeca Building Across The Street from the Sterling Mason condominiums has hit the market for $24 million, the listing broker told The Real Deal exclusively.

The 12,500-square-foot property at 70-72 Laight Street, between Washington and Greenwich streets, boasts 13.5-foot ceilings on the ground floor, an elevator and Romanesque Revival influences. 

It belongs to the Office of Thierry W. Despont, run by the namesake architect, according to city property records.

Massey Knakal Realty Services’ Nick Petkoff is marketing the five-story building as a possible townhouse or condo conversion. At the moment, there are two residential units totaling 10,000 square feet and four commercial units totaling 2,000 square feet, but if sold, the building would be delivered vacant, the listing said. Architect Thomas R. Jackson built it in 1915.

“This is one of the last properties in Tribeca that are more than 40 feet wide, and the demand for these is huge,” Petkoff said.

Despont, who declined to comment, bought it from 70-72 Laight St. Realty Corporation, also known as Stanley’s Unique Gold Stamping, in 2006 for $11.5 million, property records show. It faces Taconic Investment Partners’ Sterling Mason development at 71 Laight Street.

Last week, Petkoff was among the brokers who handled ASB Real Estate Investments’ purchase of a six-story office and retail building at 164-168 Canal Street in Chinatown, as previously reported.

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