The 11-story, red-brick building at 250 West Street in TriBeCa should open as a residential condominium by the end of 2013, according to a correspondent for ny.curbed.com.
Today's article on the building at ny.curbed.com indicated that it will have a 75-foot-long swimming pool and "a 30 million penthouse with its own private entry, elevator and garage."
An August 14, 2009 article by Pete at curbed.com reported that it had "been over a year since there was any action at 250 West Street, where a group of Russian investors reportedly purchased from Elad Properties the 1906 neo-Renaissance style...warehouse....The plan was to convert it to a batch of 80-90 condos and, up top, add a 5,000 square foot penthouse with sweeping views of the Hudson and points west. The big project, set for completion in 2010, was said to be designed by the British firm of David Chipperfield Architects. All those optimistic plans were stymied by last fall's big freeze. Then, this June, an Elad executive told the Downtown Express that the Russians had defaulted on the purchase."
The article went on to say that new applications showed up at the Department of Buildings and listed El-Ad 250 West LLC as the owner and Francis Pisani as the architect, adding that the Landmarks Preservation Commission had scheduled an August 11, 2009 hearing to review a temporary mock structure on the roof but that the hearing had been laid over for a future date.
The building had been bought by Elad for $142 million from Citigroup and an article by Lois Weiss in The New York Post said that the 371,000-square-foot building will "likely be leased back by the financial services giant for about two years while plans for a luxury condo conversion are solidified."
The building is across Hubert Street from the low-rise wing at 390 Greenwich Street of the Citibank skyscraper at 388 Greenwich Street just to the north of the very attractive Independence Plaza North development that was completed in 1975.
The building at 250 West Street has a three-story, beige-brick base and an 8-step-up entrance with a large marquee over two large rounded and polished red-granite columns. The entrance also has a long disabled access ramp.
The building has rectangular windows in arched openings and appears to be missing its original cornice.
It has an exposed rooftop watertank and masonry quoins and is a short block away from Wolfgang's Steakhouse on Greenwich Street.
An article by Alan Oser in the March 9, 1986 edition of The New York Times reported that in 1981 Bruce Sinder and Steven Levin bought a 50 percent interest in a package of buildings that included 250 West Street, which was then partly vacant. The article indicated that Mr. Sinder calculated that his partnership had a $900,000 stake in the West Street Building that in 1986 was "under contract for sale for $17 million" to a company that hoped to rehabilitate the building into first-class office space.
A May 18, 1994 article in Real Estate Weekly by Lois Weiss indicated that Smith Barney Shearson bought 250 West Street, which is also known as 34 Hubert Street, for $28,846,000. The article said that the building was built in 1898 and designed by W & D Audsley and that 34 Hubert Street Associates, of which John J. McMullen and Howard M. Peck were principals, bought the building in June, 1987 for $23.5 million.
Today's article on the building at ny.curbed.com indicated that it will have a 75-foot-long swimming pool and "a 30 million penthouse with its own private entry, elevator and garage."
An August 14, 2009 article by Pete at curbed.com reported that it had "been over a year since there was any action at 250 West Street, where a group of Russian investors reportedly purchased from Elad Properties the 1906 neo-Renaissance style...warehouse....The plan was to convert it to a batch of 80-90 condos and, up top, add a 5,000 square foot penthouse with sweeping views of the Hudson and points west. The big project, set for completion in 2010, was said to be designed by the British firm of David Chipperfield Architects. All those optimistic plans were stymied by last fall's big freeze. Then, this June, an Elad executive told the Downtown Express that the Russians had defaulted on the purchase."
The article went on to say that new applications showed up at the Department of Buildings and listed El-Ad 250 West LLC as the owner and Francis Pisani as the architect, adding that the Landmarks Preservation Commission had scheduled an August 11, 2009 hearing to review a temporary mock structure on the roof but that the hearing had been laid over for a future date.
The building had been bought by Elad for $142 million from Citigroup and an article by Lois Weiss in The New York Post said that the 371,000-square-foot building will "likely be leased back by the financial services giant for about two years while plans for a luxury condo conversion are solidified."
The building is across Hubert Street from the low-rise wing at 390 Greenwich Street of the Citibank skyscraper at 388 Greenwich Street just to the north of the very attractive Independence Plaza North development that was completed in 1975.
The building at 250 West Street has a three-story, beige-brick base and an 8-step-up entrance with a large marquee over two large rounded and polished red-granite columns. The entrance also has a long disabled access ramp.
The building has rectangular windows in arched openings and appears to be missing its original cornice.
It has an exposed rooftop watertank and masonry quoins and is a short block away from Wolfgang's Steakhouse on Greenwich Street.
An article by Alan Oser in the March 9, 1986 edition of The New York Times reported that in 1981 Bruce Sinder and Steven Levin bought a 50 percent interest in a package of buildings that included 250 West Street, which was then partly vacant. The article indicated that Mr. Sinder calculated that his partnership had a $900,000 stake in the West Street Building that in 1986 was "under contract for sale for $17 million" to a company that hoped to rehabilitate the building into first-class office space.
A May 18, 1994 article in Real Estate Weekly by Lois Weiss indicated that Smith Barney Shearson bought 250 West Street, which is also known as 34 Hubert Street, for $28,846,000. The article said that the building was built in 1898 and designed by W & D Audsley and that 34 Hubert Street Associates, of which John J. McMullen and Howard M. Peck were principals, bought the building in June, 1987 for $23.5 million.
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.
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
