Cape Advisors targets $100M sellout at 30 Warren

12-story Tribeca condominium will have 23 units

TRD New York /
Apr.April 04, 2016 06:02 PM

Cape Advisors’ planned condominium building at 30 Warren in Tribeca is aiming for a total sellout of nearly $100 million.

The developer has affixed a combined price tag of $98.6 million to the 23-unit project, according to an offering plan recently approved by the Attorney General.

Last month, the Soho-based firm, founded by Curtis Bashaw and Craig Wood, secured $84 million in construction loans for the ground-up project. The developer picked up the site for $35 million, according to city property records.

The 12-story condo development will have nearly 66,000 square feet of residential space, plus 11,000 square feet of ground-floor retail and 18 storage units. In February, the Department of Buildings approved Cape’s plans to construct a new building that will span a full block on Church between Chambers and Warren streets.

Post-Office Architectes is designing the project, with HTO Architect serving as the architect of record.

The development is in the heart of a rapidly changing part of Tribeca, and just one block away from where Cape Advisors shelled out $50 million last year for another development site, comprised of six properties between Warren and Murray streets. Toll Brothers is developing 112 condos several blocks away at 351-355 Broadway and Related recently launched sales at 70 Vestry.


Related Articles

arrow_forward_ios
From left: Donald Trump (pictured in the 1980s), Steve Ross, Charles Kushner, Harry Macklowe with (inset) Hiten Samtani and Charles Bagli (Getty, Sasha Maslov)

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

Vishaan Chakrabarti on a Manhattan real estate market without private cars

Vishaan Chakrabarti on a Manhattan real estate market without private cars
Vishaan Chakrabarti of Practice for Architecture and Urbanism and Hiten Samtani of The Real Deal (Getty)

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?

The REInterview: What if Manhattan had four Central Parks’ worth of land to play with?
Social Construct CEO Ben Huh, The Real Deal's Hiten Samtani and Social Construct cofounder Michael Yarne

The REInterview: Social Construct’s founders on making multifamily construction an assembly line

The REInterview: Social Construct’s founders on making multifamily construction an assembly line
108 Leonard Street with Nicole Kidman and Keith Urban (Google Maps, Getty)

Nicole Kidman, Keith Urban nab condo at Tribeca clock tower condo conversion

Nicole Kidman, Keith Urban nab condo at Tribeca clock tower condo conversion
2870 Ocean Avenue in Sheepshead Bay (Google Maps)

Chetrit firm to acquire Sheepshead Bay development site

Chetrit firm to acquire Sheepshead Bay development site
Alexandria Real Estate Equities founder Joel Marcus and Alexandria Center for Life Sciences (Getty, Google Maps)

Life-sciences sector proves safe haven for landlords

Life-sciences sector proves safe haven for landlords
123 West 23rd Street and Adam Neumann (Google Maps; Getty Images)

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site
arrow_forward_ios

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

Loading...