Two Twenty Five Rector Place | The Real Deal New York

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Two Twenty Five Rector Place

225 Rector Place
New York, NY 10280
(212) 757-5353
Website
Residential, Sales, Conversion, Leasing/Rental, Condo (Building), Multifamily

225 Rector Place is a 24-story, 286-unit residential condominium building in Battery Park City, at the southwestern tip of Manhattan. Related Companies, the privately-held, New York City-based developer and landlord that owns and manages $20 billion worth of real estate across the country, erected it in 1985, sold it to YL Real Estate Developers in 2005, and bought it back in 2011. Related originally built the tower, then called Parc Place, as a rental property. Gruzen Samton Steinglass, now Gruzen Samton LLP, designed the building. Related sold it in 2005 for $165 million as part of a portfolio transaction that also included Columbus Green at 101 West 87th Street. Yair Levy, of YL Real Estate Developers, renamed it Rector Square and began converting the building to condos, but the developer defaulted on the mortgage loan. Anglo Irish Bank foreclosed on the property in November 2010, then sold it to Related for $82.8 million in 2011.

Richard J. DeMarco of Montroy Andersen Design Group Inc. is the architect for the conversion. Irish interiors firm Clodagh designed the buildings interiors and lobby. Amenities include a pool, rooftop terrace, gym, and childrens playroom. Twenty percent of units are available for moderate-income tenants, in exchange for tax breaks for the building owner. It has a limestone base and a red brick faade.

-MK

  • Address 225 Rector Place
  • neighborhood Battery Park City
  • borough Manhattan
  • owner Related Companies
  • developer Related Companies
  • owner entity VEN ONE RECTOR LLC
  • architect MONTROY ANDERSON DEMARCO DESIGN
  • sales/marketing Related Companies, Sherry Tobak
  • PLANS DISCLOSED 03/03/2008
  • dob permit issued 07/25/2008
  • tco issued 09/13/2011
  • DOB FILE PLANS 03/03/2008
  • DOB FILE Link
  • LIST/LAUNCH SALES 05/01/2007
  • height in feet 250
  • floors 25
  • AG Initial Price $ 221,414,000
  • ag file plans 04/07/2006
  • AG FILE Link
  • residential units 313
  • const. status Condo Complete
  • block and lot 1-00016-7515
  • BIN 1000053
Condominium Units+
Sections