The Real Deal New York

Sales kick off at new Reade Street condo

By Katherine Clarke | January 30, 2014 09:00AM

Sales launched today at Reade Chambers, a new 17-unit boutique condominium at 71 Reade Street in Tribeca, the sponsors told The Real Deal. Four units at the building are being offered for sale so far, including a four-bedroom spread asking $5.63 million and a one-bedroom unit with a price tag of $1.7 million.

The developer of the project, which is currently under construction, is CBSK Ironstate, a partnership comprising SK Development, Ironstate Development and Charles Blaichman. The same partnership developed the Jefferson condominium in the East Village, which recently sold out, as TRD reported.

Bruce Ehrmann and Andrew Anderson of Douglas Elliman Development Marketing are the exclusive sales agents for the building.

Despite its boutique qualities, the building — with interiors designed by architect Annabelle Selldorf — has a full suite of amenities, including a doorman, a gym, a landscaped roof deck and 10 parking spaces. Those spaces will be offered for sale.

“What is being offered with only 17 units is extraordinary,” Ehrmann said.

The project will also be a rare offering in Tribeca, given its small number of one-bedroom units. The majority of new boutique developments in the neighborhood have been offering only full-floor luxury pads.

“In Tribeca and far and wide right now, everybody is building large units, so there’s demand for smaller units, which just don’t really exist down here,” Anderson said.

The development partnership acquired the site for $22 million in 2012, records show. It was previously owned by developer Fishman Holdings of North America.

In 2009, a building formerly housed on the site collapsed, flattening a car.