The City Council has approved the development of two new pavilions at Alchemy Properties‘s redesigned Woolworth Building. The terraces will flank the 29th floor wings of the classic skyscraper, whose top 30 floors Alchemy is converting into luxury residences. The Landmarks Preservation Commission approved the pavilions last week.
“We have proposed subtle changes for the Woolworth Building, which will help to preserve and restore it to its true New York City landmark form,” Kenneth Horn, the president of Alchemy, said in a prepared statement.
Lower Manhattan 2013
SHoP Architects, one of the city’s leading architecture firms, has signed a 15-year, 30,500-square-foot lease at The Woolworth Building at 233 Broadway, where it will relocate in the fall from its headquarters across the street.
The move to one of the city’s most storied buildings seems suitable for an architecture firm that has climbed the Read More
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.
If You Have to Ask You Can't Afford It
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.
The Woolworth Building, a New York City landmark and icon, may soon see its top 30 floors developed as luxury condos, according to a report by Michelle Higgins in the Times.