TriBeCa Space, a 74-unit residential condominium at 25 Murray Street, has recently resumed marketing some of its remaining units, according to an article by Amanda Fung today at crains.com.
Sales of apartments in the converted building, which has added floors, began in March 2006 and all of its units were in contract. Subsequently, however, 40 percent of the buyers decided to rescind on their contracts, the article said, when the developer, Thurcon Properties did not get a temporary certificate of occupancy on time.
The developer finally got the temporary certificate of occupancy in June, 2008, but the financial crisis brought sales in the building to a halt.
"Now that the market is picking up," the article noted that Bernice Leventhal, a broker at the Corcoran Group who recently took over marketing the project, "recently began re-marketing 10 of the remaining units at discounts of 5 percent to 10 percent of original prices," adding that the remainder of the apartments will be marketed after Memorial Day weekend.
The handsome property occupies the full blockfront on Church Street between Murray and Warren Streets.
The building has a two-story stone facade with rustication on the first floor and rusticated quoins at the corners and around two center bays on Church Street. The retail base on Warren Street has a deep, arched arcade.
The building has a red-brick facade on Church Street between the third and sixth floors and two setbacks above the sixth floor.
It has a three-step-up entrance with glass doors leading into a very large and interesting lobby with red-brick walls and flooring and several large architectural elements recalling 19th Century industrial buildings in the area.
The building is one block to the west of City Hall Park and is convenient to public transportation and numerous restaurants.
Sales of apartments in the converted building, which has added floors, began in March 2006 and all of its units were in contract. Subsequently, however, 40 percent of the buyers decided to rescind on their contracts, the article said, when the developer, Thurcon Properties did not get a temporary certificate of occupancy on time.
The developer finally got the temporary certificate of occupancy in June, 2008, but the financial crisis brought sales in the building to a halt.
"Now that the market is picking up," the article noted that Bernice Leventhal, a broker at the Corcoran Group who recently took over marketing the project, "recently began re-marketing 10 of the remaining units at discounts of 5 percent to 10 percent of original prices," adding that the remainder of the apartments will be marketed after Memorial Day weekend.
The handsome property occupies the full blockfront on Church Street between Murray and Warren Streets.
The building has a two-story stone facade with rustication on the first floor and rusticated quoins at the corners and around two center bays on Church Street. The retail base on Warren Street has a deep, arched arcade.
The building has a red-brick facade on Church Street between the third and sixth floors and two setbacks above the sixth floor.
It has a three-step-up entrance with glass doors leading into a very large and interesting lobby with red-brick walls and flooring and several large architectural elements recalling 19th Century industrial buildings in the area.
The building is one block to the west of City Hall Park and is convenient to public transportation and numerous restaurants.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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