GFI Development unveils Beekman pricing, condo offerings

Project to include 68 condominiums and 287-room hotel

New York /
Aug.August 04, 2014 08:00 AM

UPDATED, 10:25 a.m. August 4: The Beekman, a landmarked building being converted into the Beekman Hotel and a conjoining 51-story condominium tower, has revealed pricing for the condo units, which go on sale in September.

The Beekman Residences, a 68-unit condo tower, with interiors designed by Thomas Juul-Hansen, is currently at the 10-story construction mark. The building will offer up a mix of 20 one-bedrooms starting at $1.2 million, 38 two-bedrooms from $2.95 million and eight three-bedroom units starting at $3.7 million. The pads will range from approximately 700 to 3,550 square feet, while two full-floor penthouses on the 50th and 51st floors will spread out 3,550 square feet with 155 square feet of exterior space. Pricing for the penthouses has not yet been revealed.

Condo residents will have their own private entrance and lobby, located on Nassau Street, while the lower levels of the tower will hold the Beekman Hotel rooms. Guests of the 287-room hotel will use a separate entrance on Beekman Street.

Douglas Elliman’s John Gomes and Fredrik Eklund, the latter of “Million Dollar Listing New York” fame, are marketing the property.

“There are many selling points that I think will resonate with buyers, however, none more than access to all the amenities offered in the hotel below, including the world class restaurants and concierge service,” said Gomes. “We will market this as the city’s new it-building.”

Allen Gross’ GB Lodging and GFI Development are converting the landmarked property at 5 Beekman Street, as well as the adjacent Nassau Street property, into a 340,000-square-foot development. The companies bought the 5 Beekman Street building, which was formerly known as Temple Court, in March 2012 for $64 million. GB Lodging, meanwhile, is managing all components of the hotel.

“The Beekman is one of those properties that everyone coveted, remained vacant for over 20 years, and is finally coming to life,” said Gross.


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