Elliot Aronson’s 67 Vestry Street in Tribeca Snags $25M Deal

Elliot Aronson’s 67 Vestry Street has a new unit owner.

Investor Jeffrey Kovach bought a sixth-floor sponsor unit in the Tribeca condominium for $24.5 million, according to public records. Kovach is a managing partner and co-chief investment officer of the investment firm Arsenal Capital Partners.

The 5,800-square-foot apartment has six bedrooms and five bathrooms. It features views of the Hudson River, a custom gas fireplace, eat-in kitchen, and a six-foot soaking tub. The mere act of getting dressed can boost a resident’s step count, as the primary suite has three walk-in closets.

Corcoran’s Sebastian Steinau had the listing.

Developed by Aronson’s Iliad Realty Group, the 12-story building was set to break a neighborhood price record when one of its four-bedroom penthouses went into contract in June 2021 with an asking price of $22.5 million.

Buyers have since signed contracts for some of the building’s pricier listings, including its 6,700-square-foot penthouse triplex asking $45 million. The four-bedroom home found a buyer in July 2021, but the deal has yet to hit records. If the unit closes for the asking price, it will be the most expensive home sale in Tribeca.

Iliad Realty bought the development site from Aby Rosen’s RFR Realty for $50 million in December 2017. Rosen had planned to tear down a loft building at the address and erect a condo in its stead. Project opponents’ effort to save the old building failed.

Rosen paid $16.5 million for the former warehouse, which at the time housed rent-stabilized artists, and received demolition permits in 2014. Tenants pushed back, starting an online petition to expand the Tribeca North Historic District to include it.

Designed in 1896 by architect F.P. Dinkelberg, the building once served as a warehouse for the Great Atlantic and Pacific Tea Company. After Iliad took control of it, almost all of the tenants chose buyouts, although one held out before being ousted in the spring of 2019. The developer began construction on the site that fall.

The boutique condo has a 50-foot swimming pool, game room, 24-hour attended lobby, fitness center and bike room.