GDS plans Soho condo conversion at 25 Mercer

Developers to construct five homes, including a townhouse and penthouse

TRD New York /
Jan.January 26, 2016 11:42 AM

UPDATED, 1:05 p.m., Jan. 26: Two historic cast-iron Soho buildings will be transformed into one luxury condo building dubbed 25 Mercer.

Developer Michael Kirchmann of GDS Development will convert the two five-story buildings at 25-27 Mercer Street into “five exclusive residences, ranging from townhouse, to lofts, to penthouse,” according to 25 Mercer’s teaser website.

Brokers Fredrik Eklund and John Gomes of Douglas Elliman will be marketing the condos, Curbed reported.

Joseph Sitt’s Thor Equities and Premier Equities acquired the mixed-use buildings at 25-27 Mercer for $22.8 million in 2014. Later that year, GDS acquired the 20,000-square-foot residential component for $14.5 million, sources said. Thor and Premier are not involved in the condo conversion.

The development’s one townhouse will boast an elevator and multiple terraces, according to Eklund. There will also be three floor-through lofts and one duplex penthouse with a pool.

Kirchmann, along with Fogarty Finger, will also design the interiors, which will pay homage to the building’s historic character — one was built in 1867 — while adding modern touches, Curbed reported.

Apartments will come equipped with fireplaces and ceiling heights of up to 13 feet. Sales in the building will start at $8 million and are expected to begin this spring. [Curbed]Dusica Sue Malesevic

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