In the competitive, crowded condo market, an address can mean everything — higher prices, faster sales, numerous offers — and brokers are seeing this first hand on Leonard Street in Manhattan.
Ever since Herzog & deMeuron’s 56 Leonard Street opened, the street name has become a symbol of Tribeca’s prestige and distinction, according to the Wall Street Journal.
“It put Leonard Street on the map,” said Compass’ Leonard Steinberg to the Journal. “It is instantly recognizable to a large group of people who know Tribeca.”
Now some developers who are close to Leonard Street are renaming their buildings; “The Leonard” is one building’s new name while others are opting for a Leonard Street address. For example, 346 Broadway is now 108 Leonard while 350 Broadway is now 101 Leonard.
“I always appreciate it if an address will tell me where something is,” marketing consultant Richard Pandiscio told the Journal. For him and others working in the area, Leonard Street is now synonymous with Tribeca.
[WSJ] — E.K. Hudson