Plans have been crystallized for the redevelopment of the former Syms complex at 28-42 Trinity Place, which will now be known as 77 Greenwich St.
The upcoming 500-foot-tall glass condominium tower will also have a new grammar school at its base, as well as 7,000 square feet of retail.
Despite other renderings and rumors that proclaimed the project as a super-tall structure of 1,000 feet, it will be just half that height and much less expensive to build, but still have river and harbor views.
“There were a lot of fun rumors,” says Trinity Place Holdings President and CEO Matthew Messinger.
The former Forest City exec is leading the Trinity team that will now move toward shovels in the ground for the 285,000-square-foot development.
Earlier this week, the School Construction Authority announced the deal to create a new 476-seat pre-K to fifth grade school, which will serve today’s local stroller set and ever-expanding downtown families. The school will be incorporated into the first nine stories in the concrete base of the tower as well as the adjacent landmarked Dickey House at 28-30 Trinity Place.
Inclusion of the school pushes the lowest residential floors to 150 feet so that every unit will have a water view, Messinger said.
Plans now call for a boutique building of roughly 85 units, although the unit mix will “bounce around modestly” as they tweak towards the family sized market.
FXFOWLE architects has designed what will be an LEED-rated building while minimalist Deborah Berke Partners is taking the lead on apartment and amenity spaces that are “warm and comfortable.”
A roof deck is in the mix, among other amenities. The lower portion will also have bike storage and a dog spa area. “I’ve been surprised at how many dogs are in the neighborhood,” Messinger observed.
Across the street, the Elizabeth Berger Plaza, named after the late head of the Downtown Alliance, is also being enlarged into a half-acre park as a tiny street is being demapped.
Messinger declined to discuss pricing, but given the ongoing demand, local super-tall competition and the project’s completion date likely in 2019, it will probably start well over $2,000 to $3,000 per square foot. The Marketing Directors will handle sales.
The precise design and tint of the glass outer wall structure is also in flux as Messinger meets with curtain wall architects. “Every time I look, there are technology changes,” he says.
Bulgari is moving down Madison Ave.
Now that the jewelry mecca has renewed its retail store lease at 730 Fifth Ave., it is moving its corporate campus from 625 Madison down that avenue to 555 Madison.
Michael Goldman of Savills Studley represented the Italian jeweler in the 23,167-square-foot lease for the ninth floor.
Kwiat, MaxMara, Fendi and MANE are among other high-end fashion tenants in the building, owned by the Coates family.
Robert Baraf, Mark Mandell and Ethan Silverstein of Cushman & Wakefield represented the building in the 15-year deal that had an asking rent of $67 per square foot.
It’s not jewelry, but OroGold Cosmetics, which has numerous tony skin-care lines based around the beautifying effects of 24-carat gold, has signed a lease at 333 Bleecker St. in Greenwich Village between Christopher and West 10th streets.
Faith Hope Consolo and Joseph Aquino of Douglas Elliman represented the company in the 10-year deal that has one five-year option for the ritzy shopping block.
Richard Skulnik of Ripco Real Estate represented the ownership, which had an asking rent of $600 per square foot.
Among the company’s products is the Orogold 24K Cleopatra Nano Regimen, which costs a whopping $8,000 for a bottle of teeny, tiny pods. Other products are priced for everyday people and not just Egyptian queens.
Fashion company Badgley Mishka has renewed its 8,200-square-foot offices at 550 Seventh Ave.
Michael Joseph of Colliers International represented Badgley Mishka in the three-year deal. He declined comment.
Kristin Fisher, president of the Adler Group, represented the family ownership, Adler Holdings, which had an asking rent in the $60s-per-square-foot range.
Another fashion tenant, Donna Karan, will soon be giving up four floors in the building that are now being marketed by Michael Heaner and Sam Stein of the Kaufman Organization.
Fisher, a fourth-generation real estate executive and great-granddaughter of the Art Deco property’s builder, Louis Adler, says those floors will be targeted towards both tech and fashion tenants.
“As we get more office tenants and the world is changing, we will build out the floors,” she said.
