Beekman penthouse hits market for $4,300 a foot

Five months after sales launch, one-third of building is in contract

TRD New York /
Feb.February 05, 2015 10:00 AM

A full-floor penthouse at the Beekman Residences hit the market today, asking $15.25 million, or nearly $4,300 per square foot.

The 3,550-square-foot unit, on the 50th floor, has 16-foot ceilings, a fireplace and 360-degree views. Developed by Allen Gross’ GB Lodging and GFI Development, the Beekman Residences launched sales in October. Fredrik Eklund and John Gomes of Douglas Elliman are marketing the property.

“The bar is being raised Downtown like never before,” said Steven Hurwitz, executive vice president for GFI. A second penthouse, on the top floor of the 51-story building, has not yet launched.

Currently, one-third of the Beekman’s 68 units are in contract, including a 1,624-square-foot condo on the 49th floor that sold for $4.5 million, or $2,800 per square foot. The blended average sales price for the building is close to $2,250 per square foot.

Construction has reached the building’s 30th floor. The hotel is set to open in late 2015, and the condo portion is slated to debut in early 2016.

GB Lodging and GFI bought 5 Beekman Street, a landmark property formerly known as Temple Court, for $64 million in 2012. They are converting the property, as well as an adjacent property at 115 Nassau Street, into a 350,000-square-foot development that will include the Beekman Hotel and a conjoining 51-story condo tower. The Beekman Residences start on the 17 floor, with the 287-room hotel at the base of the tower.

Overall, the development has 20 one-bedrooms starting at $1.2 million, 39 two-bedrooms from $2.95 million and eight three-bedrooms starting at $3.7 million.

Residents in the Beekman’s upper floors – 42 through 51 – will also get what developers have dubbed the Beekman Black Card, which will give them access to hotel services and amenities, including two restaurants, a lounge and event space. Cardholders will also be able to charge services and meals at the hotel restaurant to their house account, which will start off with a $10,000 face value.

“It’s just a way to make our ‘top of the house’ buyers feel a little extra special,” he said.

The hotel, to be operated by Thompson Hotels, will include restaurants from chefs Keith McNally and Tom Colicchio. McNally and Colicchio are giving Lower Manhattan a stamp of approval, Hurwitz said: “Those guys are trendsetters.”


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