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While Soho seems rife with industrial buildings being converted to high-end condos, new rentals are few and far between. That is about to change at 11 Greene Street, where 30 loft-inspired luxury apartments are being planned from the second to the sixth floors. The seven-story building will also have a seventh-story mezzanine and retail on the ground floor and lower level, as well as 240 feet of frontage on Greene and Canal Streets.
A new building on the corner of Greene Street and Canal Street has been in the works since 2001, but the market downturn and design rejection considerably slowed the process. More recently, newcomer Arch Companies took over the project from Thor Equities and secured a $45 million construction loan in March. A recent visit revealed that the building is just above ground.

The prolific Gene Kaufman has always been linked to the project, but the original design was slammed as ugly and flat. An approved (and improved) design pays tribute to historic Soho architecture. The Canal Street façade will have corbelled detailing and large windows, and the Greene Street façade will feature a trabeated metal system and intricate structural configuration of space.



Upon completion, which is estimated for 2019, residents will enjoy interiors by Escobar Design and amenities that include a fitness center, mail room, bike room, laundry room, and roof deck. Residents are also in for a bit of sticker shock: According to CityRealty data, the median Soho rent is $7,200/month.

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Michelle Mazzarella
Michelle is a contributing writer and editor for real estate news in New York City