The planned luxury condo conversion at 250 West Street, an old Tribeca warehouse, was almost a recession casualty. But a few months ago it put out the red carpet for top brokers and spilled a few details about its future $30 million penthouse. The Times has some fresh intel on the 111-unit condo that will be finished by fall 2012. The original sales start date was spring 2009. But better late than never, right?
The final word on prices will come when the state approves the condo offering plan, but the apartments will probably cost between $2 million and $10 million, or $1,500/square foot (and then there's that penthouse). Studios will weigh in at 1,250 square feet, and four-bedrooms will probably be around 5,000 square feet. Sales will launch before the building is finished, which could make unloading the pricier apartments challenging, but developer El-Ad Properties predicts the project will sell out in 18 months. Given El-Ad's past projects, we'd take that estimate with a Plaza-sized grain of salt.
· Developer of Plaza Tackles Tribeca Conversion [NYT]
· 250 West Street coverage [Curbed]