Renderingof 111 Leroy posted on construction fence; CityRealty
Kevin Maloney’s Property Markets Group (PMG) has begun construction on a new condominium and townhouse development at 111 Leroy. To mark the occasion, the team has launched a new registration site that boldly trumpets its borderline West Village locale and the exclusivity of its residences. The large parcel is located on the cobblestoned corner of Leroy and Greenwich streets and is surrounded by a flurry of competing condominium developments. After an unsuccessful tryst with the community board to build a larger project, PMG has decided to move ahead with an as-of-right plan that entails a 10-story condo tower shouldered by five single-family townhouses.
Screenshot of txt on 111 Leroy's registration website
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111 Leroy Street; CItyRealty
Site preparation begins, CItyRealty
Workshop APD is leading the project design and a rendering posted on the site’s construction fence illustrates the firm’s clean contemporary aesthetic that works well with the downtown streetscape. The tower will hold just 12-apartments, most of which will be full floor residences. The five townhouses at 115, 117, 119, and 121 Leroy Street, as well as 621 Greenwich Street will decrease in height as they approach the Greenwich Street corner. A narrow leg of the property reaches north out to Morton Street and will be reserved as a publicly accessible open space.
The West Village is one of the city’s the priciest and most desirable neighborhoods and has an average asking price of $ 4.387 million ($2,798 / ft²) for its 54 available condos. Due to the neighborhood’s appeal and a dearth of supply, several condo projects are underway around 111 Leroy’s site. Across Greenwich Street, construction has just started on a BKSK-designed condominium at 127 Leroy Street to contain just 9 units, and directly north of 111 Leroy, Brack Capital is converting and adding onto a former warehouse at 90 Morton / 627 Greenwich Street. Other underway condo developments include 160 Leroy, 100 Barrow Street and the The Printing House.
Google Earth aerial showing the condo development planned for the West VIllage - Hudson Square border, CItyRealty
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