Chicago-based L3 Capital has acquired the four-story, 20,600-square-foot mixed-use property at 61-63 Crosby Street, in SoHo, for $42 million. The new owner plans to convert the building into office space, although the ground-floor will remain as retail space. The co-op building has seven apartments, which will all be vacated before the sale closes, according to The Real Deal. The property comes with 3,300 square feet of air rights, which could be used in an expansion. Any alterations to the buildings will have to be approved by the Landmarks Preservation Commission because they sit within the SoHo-Cast Iron Historic District Extension.
New office buildings are a rarity in SoHo, because a combination of landmarking and incredibly high property values normally push developers to build condos if they want a return on their investment. But one builder has bucked the trend and filed plans for a seven-story office building at 134 Wooster Street, between Houston and Prince Streets.
The Gural family is planning to reconfigure and make upgrades to their six-story, 122,454 square-foot commercial property at 560 Broadway, in SoHo, according to Crain’s. The building, built in 1890 and located within the SoHo-Cast Iron Historic District, will have its main entrance moved to Crosby Street. In the process, Converse – one of two ground-floor retail tenants – will gain 1,500 square feet of space and 30 feet of street frontage. In addition, two of the building’s four stairwells will be removed in exchange for elevators and 8,000 square feet of extra office space. The Landmarks Preservation Commission would have to approve the project, which would also rename the building to 100 Crosby Street. Rosen Johnson Architects is designing.
SoHo’s One Vandam topped out over a year ago, but now looks like a building nearing the finish line. Quinlan Development’s 160-foot-tall mixed-use building has cladding on its façade, as seen in photos posted by Tectonic. The building will 25 residential units spread across 60,642 square feet, making for a spacious average size of about 2,425 square feet. The 14-story building will also have 8,640 square feet of commercial space. BKSK Architects designed the building.
The flatiron-shaped facade at 10 Sullivan Street in Soho has most of its hand-laid Norman bricks and curved glass, and workers are busily installing bathroom tile and gas fireplaces. The building will eventually top out at 16 stories and hold 22 condos on a triangular lot wedged between Sullivan Street, 6th Avenue, Spring, and Broome Streets.