21-story condo conversion in Tribeca moves ahead
Rendering courtesy of Steven Harris Architects
A former city office building in Tribeca that has been vacant for about a decade is one step closer to becoming a luxury residential tower. Manhattan Community Board 1 on Monday approved the expansion and conversion of 101 Franklin Street (formerly 250 Church), which will turn a 17-story 1940s building into a 21-story condominium with 72 apartments. The proposal heads next to the Department of City Planning.
The roughly 205,000-square-foot office tower, built in 1948, has sat vacant since the anchor tenant, the city’s Human Resources Administration and Department of Social Services, moved to 4 World Trade Center in 2017, as CityRealty reported.
Original plans that called for amenity-filled modern offices designed by Gensler and Rafael Viñoly failed to move forward.
Developed by Skylight Real Estate Partners, Cannon Hill Capital Partners, and TPG, 101 Franklin Street adds about four floors to the existing building, allowing for a 314-foot-tall structure, including the bulkhead.
In addition to the 72 market-rate condos, the building would offer nearly 2,700 square feet of retail space and 15 parking spaces. If the zoning changes and conversion are not approved by the city, the owners plan to instead renovate and rent it as Class A office space with ground-floor retail.
Tribeca-based Steven Harris Architects will design 101 Franklin. Rees Roberts + Partners will design the interiors, and Hill West Architects will serve as the executive architect.
“I have lived and worked in Tribeca for decades, and that long relationship has given me a deep appreciation for its history, architecture, and community,” Steven Harris of Steven Harris Architects said.
“At 101 Franklin, our aim is to create a building that reflects that understanding, honors the authenticity of its materials, and adds lasting value for residents and the neighborhood alike.”
As CityRealty notes, 101 Franklin sits across from 56 Leonard, Tribeca’s tallest building, known as the Jenga Building for its pixelated design. Condos at 56 Leonard fetch between $2,500 and $6,000 per square foot, with the highest-priced units boasting stunning panoramic views.
While it won’t match those sightlines, 101 Franklin will offer “open vistas across Downtown’s prewar architecture, with upper floors offering glimses of the Hudson River and the Midtown skyline,” according to CityRealty. Only one rendering has been released so far, but early drawings reveal a more traditional Downtown aesthetic, with punched multi-pane windows and shallow setbacks.
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