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To Hell Building and Back, 225 Rector Returns to Market

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Single-name designer Clodagh is finally finishing the interiors of the infamous Hell Building at 225 Rector Street, according to the Times. The Irish designer has come up with a feng shui-powered design for the lobby and other common areas, which is probably a good idea, because there's a whole lot of bad karma floating around the address from the last few years. Related Companies has the property back in its portfolio, after selling it to Yair Levy in 2005. His condo conversion of the building was a mess. Interiors were left unfinished; buyers sued; Levy allegedly looted the reserve fund to pay for office supplies and pocket-lining. Eventually, he lost the building to foreclosure and Related bought it back from the bank. Now they're prepared to list 181 units ranging from a 576-square-foot studio for $492K to a $2 million three bedroom. Twelve penthouses are being held back from the market until the fall. Hasn't Related heard? That's not how you do it in this market these days!
· In Battery Park City, Resold, Renovated and Ready for Sale [NYT]
· 225 Rector Place coverage [Curbed]

225 Rector Place

225 Rector Place, New York, NY 10006