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Owners Hit Pause on 70 Pine Street's Pricey Condos

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It now looks like 70 Pine Street is bound for landmarking, but the future of the 66-story Art Deco skyscraper has never been more murky. After AIG sold the building for beads and trinkets in the wake of the credit meltdown, developer Young Woo said he was turning part of the building into luxury condos priced at $2,000 per square foot. Not so fast, Steve Cuozzo writes in the Post today. Korea's Kumho Investment Bank tells Cuozzo the mixed-use plan is still being figured out, and Young Woo is now being referred to merely as an "adviser." Classy restoration architects Beyer Blinder Belle are working on a new proposal for 70 Pine, so at least we know the building is in good hands. It's likely that condos will still be a part of the plan, but will 70 Pine aspire to $2,000/sqft greatness? That's rarefied air in the land of FiDi.
· Back to start at 70 Pine St. [NYP]
· 70 Pine Street coverage [Curbed]

70 Pine Street

70 Pine Street, New York, NY 10005