Time Equities, Hamlin plan boutique condo at Nolita church

Developers picked up St. Patrick’s Old Cathedral School in Nov.

New York /
Feb.February 02, 2015 04:14 PM

After paying more than $30 million for St. Patrick’s Old Cathedral School in Nolita, developers Time Equities and Hamlin Ventures will market seven luxury condos with a total sellout of $70.7 million, according to plans filed with the state Attorney General’s office.

According to the offering plan for 34 Prince Street, a three-bedroom condo measuring 2,743 square feet will ask $7.74 million. A four-bedroom, 3,673-square-foot duplex (with a 1,210-square-foot terrace) will ask $12.5 million. A triplex measuring 4,478 square feet will ask $11.925 million.

Hamlin’s Abby Hamlin and Time Equities’ Francis Greenburger acquired the former school building – on Prince between Mott and Mulberry Streets – for $30.7 million in November. The building, a former orphanage, convent and parochial school, was declared a landmark in 1966.

In addition to the seven condos, the project will include a church-related community facility and two townhouses measuring between 9,000 and 10,000 square feet. Prices for the townhouses were not included in the offering plan. CORE is marketing the townhouses, while Time is marketing the condos in-house, according to the offering plan.

The development at 34 Prince is one of several boutique projects to hit the luxury market, such as Sorgente Group’s eight-unit 60 White Street and Flank Development’s six-unit building at 224 Mulberry Street.

Tim Crowley, director of new development at Core, said the boutique building will fit into the “boutique neighborhood.”

“Nolita is a neighborhood that’s very demure in scale,” he said. “The recent projects added to the neighborhood reflect that.”

Hamlin Ventures and Time Equities  jointly developed 14 townhouses in Brooklyn, at 267-287 State Street in Boerum Hill.


Related Articles

arrow_forward_ios
109 East 79th Street and 1010 Park Avenue (Google Maps)

Upper East Side trophy property tops luxury deals — again

Upper East Side trophy property tops luxury deals — again
20 East End Avenue and 292 West 4th Street (Google Maps)

Manhattan’s luxury market has best post-Christmas week since 2006

Manhattan’s luxury market has best post-Christmas week since 2006
Henry Buhl and 114 Greene Street (Getty, Google Maps)

Soho sale by art collector Henry Buhl tops Manhattan luxury deals

Soho sale by art collector Henry Buhl tops Manhattan luxury deals
Joseph Chetrit and 49 Chambers (Getty, 49 Chambers)

Chetrit lands $90M inventory loans for Tribeca condo conversion

Chetrit lands $90M inventory loans for Tribeca condo conversion
Barry Sternlicht and 150 Charles Street (Photos via Getty; Compass)

Barry Sternlicht inks contract to sell $40M West Village condo

Barry Sternlicht inks contract to sell $40M West Village condo
A rendering of 1228 Madison Avenue and 49 Greene Street (Photos via Robert A.M. Stern Architects; Google Maps)

Manhattan luxury market has another strong week

Manhattan luxury market has another strong week
From left: Compass CEO Robert Reffkin, 1 Wall Street and Macklowe Properties chairman Harry Macklowe (Getty; Macklowe Properties)

Macklowe taps Compass to sell 1 Wall Street

Macklowe taps Compass to sell 1 Wall Street
Slate Property's CEO Martin Nussbaum (West End 87)

Scale Lending originates $38M inventory loan for unsold UWS condos

Scale Lending originates $38M inventory loan for unsold UWS condos
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...