Cape Advisors files plans for 21-unit Tribeca condo project

Eight-story development located a block away from 30 Warren

TRD NEW YORK /
Apr.April 06, 2016 03:17 PM

Condominium developer Cape Advisors is finally moving on plans for the Tribeca assemblage it acquired for $50 million last year, filing permit applications Wednesday with the Department of Buildings that call for an eight-story mixed-use residential building on the site.

The 55,000-square-foot building at 75 West Broadway will hold 21 apartments across more than 45,400 square feet of residential space, with an additional, nearly 9,700 square feet of ground-floor retail.

Amenities at the building, previously reported to hold luxury condos, will include bicycle storage space, a fitness room and a common terrace area for residents, according to the filing.

There will be three apartments on the second floor – two of which will come with private terraces – and four units on each of the third through fifth floors. The sixth floor will hold two units, each also coming with private terraces, while there will be another two apartments on the seventh floor.

The eighth floor of the project will also house two apartments, one of Which Will Come With A Private Terrace on the building’s rooftop.

Soho-based Cape Advisors picked up the six-parcel development site on West Broadway, between Warren and Murray streets, for $1,000 per square foot last year.

The hefty purchase price means the developer reportedly will have to sell apartments at 75 West Broadway for north of $3,000 per square foot to make a profit – potentially a challenge in what many consider to be a softening luxury condo market in Manhattan.

The site is located only a block away from another Cape Advisors condo development: a 12-story, 23-unit project known as 30 Warren. The firm, led by Curtis Bashaw and Craig Wood, is seeking a total sellout of nearly $100 million at that building.

Neither Cape Advisors nor BKSK Architects, 75 West Broadway‘s architect of record, returned requests for comment.


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Morris Moinian and 1150 6th Avenue (Credit: Noam Galai/Getty Images, Google Maps)

Morris Moinian to sell site of stalled hotel project

arrow_forward_ios
Loading...