By Billy Gray 3/19 10:00am

Lower Manhattan 2013

The Woolworth Building

‘Worth’ the Wait: As Lower Manhattan Population Soars, Alchemy Properties Builds Condos Atop Woolworth Building

The luxury residential real estate market has soared to unprecedented heights in the past year, in terms of both price tags and building heights. But none of today’s $100 million penthouses rest atop a quintessential New York building. That will change next year, when new condominiums at the Woolworth Building hit the market.

Last August, The New York Times reported that Alchemy Properties had paid $68 million in a deal with building owners the Witkoff Group and Cammeby’s International to turn the top 30 floors of the 100-year-old landmark building into 40 luxury apartments—including a trophy penthouse spanning a whopping five stories at the top. Read More

By Al Barbarino 12/27/12 7:45am

Lease Beat

cvspharmacy

CVS Takes 14,274SF Retail Condo at Griffin Court, Recently Sold to Heskel Group for $11.3M

CVS Pharmacy has leased a 14,274-square-foot retail condominium space below Alchemy Properties’ Griffin Court Condominium development at 454 West 54th Street, which was also sold to Heskel Group earlier this month, The Commercial Observer has learned.

The 25-year lease includes 9,000 square feet of street level frontage, set below the eight–story residential towers, where 95 condo units that hit the market in 2010 are roughly 85 percent occupied.

The property is located in the Hell’s Kitchen neighborhood, a first for CVS, and in close proximity to the theatre district. Read More