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Development Du Jour: 99 John Deco Lofts

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Location: 99 John Street, Financial District
Size: 27 stories, 442 apartments
Prices: $530,000 to $3.3 million
Architect: Shreve, Lamb & Harmon
Developer: Rockrose
Sales & Marketing: Rockrose
Lowdown: We've known for almost a year that Rockrose's limestone-clad FiDi rental building was headed for the rare double conversion. Now it has finally happened, with a couple of bonus words slapped on the building's name for good measure. The old 99 John party palace is now the 99 John Deco Lofts, but the selling points are the same: youngsters' amenities (billiards room, gym, residents' lounge) in a building designed by the same architects as the Empire State Building. Rockrose bought 99 John in 1996 for just $17 million, so if they weren't making an absolute killing on those luxury rents, they certainly will on the condo sales. Paging foreign investors.