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Troubled Broadway Building To Return As 'Elegant' Residences

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It has been almost three years exactly since we heard anything about 1182 Broadway, the Ace Hotel neighbor that was vacated after the Department of Buildings found out it was an illegal loft conversion, but it appears that the building is ready to make a comeback. A tipster spotted a teaser site for the building, which states that it has "elegantly reimagined residences" for winter 2013-2014. But before we dive into that, let's journey back and revisit its history.

The century-old building is owned by Mocal Enterprises, and when the vacate order was first called in, there was a lot of speculation as to who reported the "unsafe conditions" in the first place. The owner cooperated with the Department of Buildings and relocated all of the tenants, but just six months after the vacate order, word spread that the owner was considering to convert the buildings to condos. Of course, the tenants we not on board. That was in December 2010. Since then, things have been very quiet.

A look through the Department of Buildings filings for the property shows that Mocal Enterprises has kept its word about renovating the building to the correct standards and obtaining a legal certificate of occupancy. Smoke detectors, a sprinkler system, and fire alarms have been installed, and a secondary emergency staircase has been constructed. The first five floors will remain commercial, and a residential certificate of occupancy was approved in early 2012 for floors 6 through 17.

The new teaser site, which calls it the Centurian Building, does not specify if the units will be rental or condo, but the use of the word "residences" hints at condos. So what happened to the former tenants? The Curbed tipline has been devoid of information relating to the building, which leads us to assume that the tenants are happy with whatever has been worked out. But if any former 1182 Broadway tenants are reading this, we'd love to hear your story. The tipline is ready and waiting.

UPDATE: A commenter points out that if you through on the site to sign up for information, there is a price range that indicates the building will clearly be rentals. Rents will range from $5,000 to more than $12,000. Apartment size options are loft, one-bedroom, two-bedroom, or two-bedroom duplex.
· The Centurian Building [official]
· 1182 Broadway coverage [Curbed]
Photo of the building with scaffolding in September 2012, via Property Shark