Builders DHA Capital and Continental Properties are converting a Greenwich Village parking garage into eight large luxury condominiums. Asking prices for units at the building at 12 East 13th Street — located between University Place and Fifth Avenue – will range from $7.5 million to $28.5 million for the top triplex, according to the team.
The builders – who paid $32 million for the property last year — intend to add four more stories to the eight-story building, the Wall Street Journal reported. They will demolish a part of the building’s rear to add the extra floors and also build a new façade that allows for wider windows, according to the newspaper. Construction will begin in a month or so.
Continental’s Steven Fisch told the Journal that the location of the building appealed to them, as did the size of the block that allowed for full-floor condos. “It’s very hard to find a 67-foot-wide building,” Fisch said.
The current frenzy in the luxury market made the project feasible, he added, saying that “it is in a location, and a time in New York City, when this can happen.”
Cantor Pecorella’s Richard Cantor is marketing the property, according to the Journal. None of the condos have been sold yet. [WSJ] – Hiten Samtani