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Development Du Jour: Soho's 34 Greene Street

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Location: 32-34 Greene St. (between Grand and Canal)
Size: 8 loft apartments
Prices: Second floor 2BR, south line, 1,911 square feet, asking $3.535 million; third floor 2BR, north line, 2,005 square feet, asking $4.411 million; duplex penthouse, 4,889 square feet, asking $12.5 million.
Architect: McKay Architecture/Design after Charles Wright (34 Greene, 1873) and Isaac Duckworth (32 Greene, 1873)
Developer: The Sorgente Group
Sales & Marketing: Prudential Douglas Elliman
Lowdown: Italy's Sorgente Group, which also bought a little property known as the Flatiron Building, snapped up these two iconic Greene Street cast-iron buildings in 2007. Work's been underway for about a year now on the interior renovation, which will result in two floor-through units on each of floors two through four, with a penthouse (with roof) on the fifth floor. The developer touts the allure of Italy throughout its marketing materials (ex: "the parquet flooring will be nailed and not glued, the woodwork will be hand waxed and polished rather than spray varnished and the furniture will be strictly Italian"), and it's got old-world pricing to match, to say the least. Residency's touted for this summer, though it looked to us after a stop-by last week that they'll have to hit the gas to make that a reality.

34 Greene Street

34 Greene Street, New York, NY