443 Greenwich Street
Updated: Jul 16, 2018
Tribeca, New York
Atelier Consulting LLC acted as real estate advisor to the potential purchaser for the acquisition and redevelopment of 443 Greenwich Street. The Property is a rare architecturally detailed seven-story former warehouse building, built around 1905 and located in Tribeca that occupies seventy-five percent of a city block with light and air on all four sides and from the building’s interior courtyard. The current plan is to redevelop the vacant Property into a total of 74 ultra-luxury residential units including 2 penthouses, a total of 251,186 saleable SF. All the drawings and NYCDOB and Landmark approvals were in place.
Atelier created the project underwriting for the banks, performed the construction estimate, project schedule and refined the development plan to convert the building into 74 large high-end condominiums including 2 penthouse units. The units will be 3, 4, 5 and 6 bedrooms Residences will have a rich amenities package: private entrances, concierge, private dining to full catering services, swimming pool, fitness center with spa treatment rooms and state-of-the-art workout equipment, game room, landscaped rooftop terrace, private courtyard, playroom, personal shopping services, childcare, secure storage, climate controlled wine cellars, cold storage, advanced security systems, lounge and event space, a glamorous private screening theater, and a 24-hour first class staff on site to handle tenants every need. In addition to the enhanced quality of living at 443 Greenwich there is natural light and air on all four sides because of the 174-foot block-through easement on the eastern boundary of the property. 443 Greenwich also boasts an existing private 4,000 SF interior courtyard with two private gated entrances that lays out perfectly for conversion.
Client: Hakim Organization
Advisor: Atelier Consulting LLC