Schrager advances riverfront condo project in Manhattan

Miami /
Nov.November 15, 2015 12:00 PM

Ian Schrager has purchase contracts for one-third of the units at his new waterfront condo development in Manhattan, 160 Leroy, along the Hudson River.

The condo will rise between Clarkson and Leroy streets, a section of the West Village that had been home to a car wash, automotive repair businesses and a strip club.

Schrager told the New York Times, “It was three separate sites, and it was a nightmare putting it together.”

Schrager initially owned one of the three sites with Ares Management. The owners of the other two sites, Weinberg Properties and William Gottlieb Real Estate, became partners in the 160 Leroy condo development after a year and a half of negotiations.

Crews are now clearing the development site for a 15-story building with 49 units, priced from $2.6 million for a one-bedroom measuring 1,100 square feet to $25 million or more for 6,000-square-foot, five-bedroom residences. The top floor will be a 12,000-square-foot penthouse with a pool and approximately 7,500 square feet of outdoor space.

Brokerage firm Douglas Elliman is marketing the 160 Leroy building, designed by Switzerland-based architecture firm Herzog & de Meuron.

Buying a unit at 160 Leroy is “perhaps one of the last opportunities to own a home on the waterfront, because there’s virtually no more land available that hasn’t been developed,” Susan M. de Franca, president and CEO of Douglas Elliman Development Marketing, told the New York Times.

Schrager has had a series of successful real estate developments in New York including Studio 54, the Morgans hotel and the 40 Bond condominium. [New York Times] — Mike Seemuth


Related Articles

arrow_forward_ios
From left: Taylor Collins and Jon Paul Perez with Rivage
Related, partners launch sales of Bal Harbour condos, with PH asking over $65M
Related, partners launch sales of Bal Harbour condos, with PH asking over $65M
From left: Charles Kushner, Laurent Morali, David Arditi, and Nicole Kushner Meyer along with renderings of 1900-2000 Biscayne (left) and 2222 Brickell Avenue (right) (Getty, Kushner Companies, Aria Development Group)
Miami board to vote on Kushner’s Edgewater rental project, Aria’s Brickell condo building
Miami board to vote on Kushner’s Edgewater rental project, Aria’s Brickell condo building
From left: Edgardo Defortuna, Dan Catalfumo, and Carlos Rosso with The Ritz-Carlton Residences
Inside South Florida’s branded condo tower boom
Inside South Florida’s branded condo tower boom
Chain's Deepak Thapliyal with 8955 Collins Avenue (Chain via Twitter, Google Maps, Getty)
Arte Surfside PH purchased with crypto sells at a loss for $18M
Arte Surfside PH purchased with crypto sells at a loss for $18M
Kolter Urban’s Bob Vail with rendering of Selene Oceanfront Residences (Kolter Urban)
Kolter nabs $240M construction loan for Fort Lauderdale condo towers
Kolter nabs $240M construction loan for Fort Lauderdale condo towers
Miky Grendene (YouTube)
Watch: Casa Tua founder on hospitality-branded developments, partnering with Fortune and barefoot luxury
Watch: Casa Tua founder on hospitality-branded developments, partnering with Fortune and barefoot luxury
1000 Biscayne Boulevard in Miami with Moisey Uretsky (Google Maps, Getty)
Tech mogul buys One Thousand Museum penthouse for $18M
Tech mogul buys One Thousand Museum penthouse for $18M
Camilo Miguel, Jr., Edgardo Defortuna, Carlos Rosso and Jorge Perez with a rendering of the Casamar Pickleball Court (LinkedIn, Wikipedia, Dragon Global, Standard Residences)
New ‘it’ amenity at South Florida luxury condos? Pickleball courts
New ‘it’ amenity at South Florida luxury condos? Pickleball courts
arrow_forward_ios

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

Loading...