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
Jorge, Jon Paul and Nick Pérez (Photos by Studio Scrivo)
Related Group’s condo kings expand their realm
Related Group’s condo kings expand their realm
The PHA unit of 895 Park Avenue was the top contract of the past week (Warburg Realty)
Manhattan townhouse deals reach record levels
Manhattan townhouse deals reach record levels
Christodora House at 143 Avenue B (Google Maps, iStock)
Condo board to staff: Get vaccinated or get lost
Condo board to staff: Get vaccinated or get lost
Miki Naftali and the corner of Madison and East 86th Street. (Getty, Google Maps)
Naftali Group nabs $102M loan for UES condo project
Naftali Group nabs $102M loan for UES condo project
Ascent Development's Tien Vominh and a rendering of the project at at 45-30 Pearson Street (Ascent Development)
Ascent nabs $48M construction loan for LIC condos
Ascent nabs $48M construction loan for LIC condos
Quay Tower at 50 Park Drive and Ryan Serhant (ODA, Getty)
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
A rendering of One Boerum Place with Avery Hall Investments' Avi Fisher (top) and Brian Ezra (SLCE Architects, Avery Hall Investments)
Shifting gears: Brooklyn condo tower to debut as rental
Shifting gears: Brooklyn condo tower to debut as rental
Lionel Messi and photos of the Regalia unit (Getty)
Goooooool: Lionel Messi’s family scores condo in South Florida
Goooooool: Lionel Messi’s family scores condo in South Florida
arrow_forward_ios

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

Loading...