Cape Advisors targets $100M sellout at 30 Warren

12-story Tribeca condominium will have 23 units

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.

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