The fanciful mansion known as the Broken Angel officially sold to a developer a few weeks ago, and today the Daily News has a story that sheds some light on what exactly happened and what's coming next. Barrett Design and Development paid $4.1 million for the four-story house and empty adjacent lot at 4-6 Downing Street, formerly owned by artist Arthur Wood, who made the mosaic manse what it is. Wood tried to convert the building into condos back in 2007, but he hit financial troubles and was forced to default on a mortgage. It had been unclear what happened with the foreclosure proceedings, but the New says, he "lost the asset in a hotly contested foreclosure and was evicted last May."
Wood is still hoping, probably naively, that he can get the house back (he told the News, "I'm preparing to go to Washington as soon as I'm notified." Huh?), but the new owner is moving forward with conversion plans. Alex Barrett plans to turn the existing structure into 8 condos, and build a new four-story building with two condos. Barrett doesn't want to "whitewash" the building's history, and they plan to restore features of the 140-year-old building that were "obscured" by Wood. The whole shebang should be complete sometime in 2015.
· Condos planned for Broken Angel building as old owner continues fight [NYDN]
· All Broken Angel coverage [Curbed]