142 Watts Street via Corcoran and William Green Architects)
While 142 Watts Street has largely looked the same on the outside since it was built by Piece & Dockstader in 1886, the building’s uses have changed dramatically over the years. The address is best known as the former home of Capsouto Freres, an early entrant in the Tribeca dining scene that closed in the wake of Superstorm Sandy, but has also served as a warehouse, tenement building, and hotel. Most recently, following a two-year gut renovation by William Green Architects, it is now a single-family mansion, part of a growing trend and on the market for $28.5 million.
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“We had an opportunity to knock it all down and create an entirely new building and we decided not to do that. I love the neighborhood and I wanted to keep it as authentic as possible” - Cathleen Ihasz, co-founder, Lazar Ventures
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Cathleen and Nicole Ihasz, sisters and co-owners of Lazar Ventures, purchased the building for $9 million in 2018. As the building is located just outside the Tribeca North Historic District, any changes to it could take place as of right. Conceptual renderings from the property's listing agents showed a dramatically overhauled building, but the sisters thankfully chose to restore the original facade, with its ornamental masonry and period details, instead. Permits filed in May 2018 called for a full adaptive-reuse of the interiors and a new rooftop addition in the form of a sixth-story mansard roof.
142 Watts Street is up the block from Albert Capsouto Park, a green space named in honor of the building’s former owner, and a short distance from the sports courts and dog runs of Hudson River Park. Unlike the days when Capsouto Freres was one of the only dining options in the area, it is now close to a robust restaurant scene that includes Wolfgang’s Steakhouse, Locanda Verde, The Greek, Estancia 460, and Maman. Transportation options include the Canal Street 1 and A/C/E trains.
It is also located in a section of Lower Manhattan that has become home to some of the city's most highly coveted residential real estate over the years. Celebrity favorite 443 Greenwich Street is a short walk away; across Canal Street is the Renzo Piano-designed 565 Broome Soho. And while 142 Watts Street's listing describes it as "the only townhouse in Northwest Tribeca," it may not hold that distinction for long - a few blocks down the street is 11 Hubert Street, which has been listed for $25 million as a vacant development site with Landmarks Preservation Commission-approved plans by Maya Lin and Eric Cobb for a modern new townhouse.
It is also located in a section of Lower Manhattan that has become home to some of the city's most highly coveted residential real estate over the years. Celebrity favorite 443 Greenwich Street is a short walk away; across Canal Street is the Renzo Piano-designed 565 Broome Soho. And while 142 Watts Street's listing describes it as "the only townhouse in Northwest Tribeca," it may not hold that distinction for long - a few blocks down the street is 11 Hubert Street, which has been listed for $25 million as a vacant development site with Landmarks Preservation Commission-approved plans by Maya Lin and Eric Cobb for a modern new townhouse.
View towards the Hudson River and its namesake park from 142 Watts Street's new roof deck
Renderings of 142 Watts Street via Corcoran
↓ Residents arrive to the convenience of on-site parking that can accommodate a full-size SUV and sports car, and comes with an electric vehicle charging station.
↓ The spacious foyer features polished concrete floors, coat closet, powder room, and custom chandelier.
↓ The loft-like living room occupies the entire second floor and boasts 10’4” ceiling, wet bar, and gas fireplace with custom cast stone surround.
↓ A family room with industrial-scale windows opens up to a top-of-the-line kitchen with an oversized center island, custom Italian cabinetry, and appliances by Sub-Zero, Wolf, and Bosch.
↓ All secondary bedrooms offer high ceilings, generous closet space, en suite baths, and downtown views.
↓ On the sixth floor, the full-floor primary suite boasts soaring ceilings, original masonry walls and steel structural elements, a gas fireplace, and a private balcony.
↓ The primary bath is bathed in light from a skylight and comes with a private water closet, soaking tub, and rain shower.
↓ A 650-square-foot roof terrace looks out onto views of the Hudson River and NYC skyline.
The new addition is topped by a roof deck
Content Specialist
Michelle Mazzarella
Michelle is a contributing writer and editor for real estate news in New York City
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