Its gray dullness, narrow windows and skyline prominence (Brooklyn Bridge joggers know what we're talking about) have made the former Verizon building at 375 Pearl Street the ugliest building in New York City, according to many. But that doesn't mean it isn't wanted! The foreclosure victim?which was supposed to get a glassy facade facelift before the economy tanked?is near a sale for more than $100 million to developer YoungWoo & Associates and the Sabey Corp., according to the Wall Street Journal.
Sabey is known for developing properties for telecommunications companies, which makes us believe this former switching station for the New York Telephone Co. will still be used to help people stay in touch. But there's a lot of room in that 32-story shell, and the involvement of Young Woo?who bought the gorgeous 70 Pine Street and plans to convert part of it into condos?suggests there may be bigger plans for 375 Pearl. So how 'bout that facelift, fellas?
· Verizon Tower Deal Connects [WSJ]
· 375 Pearl Street coverage [Curbed]