Demolition permits have been filed with the Department of Buildings for the tallest condominium building south of ‘Billionaires’ Row.’ The approximately 950-foot tower revealed by real-estate blogger YIMBY last month will house 129 condos within a dramatic champagne flute-like design by the architects Kohn Pedersen Fox Associates.
Tentatively named 101 TriBeCa, the uppermost floorplates increase in size to take greater advantage of views uptown and towards the river that most likely will remain unobstructed years to come due to restrictive zoning in TriBeCa and Battery Park City.
The 10-story St. John University academic building currently occupying the site at 101 Murray Street was purchased by the Fisher Brothers and the Witkoff Group for a staggering $223 million last summer. Flush with cash, the university leased 50,000 square feet uptown in Edward Minskoff’s pricey 51 Astor Place. The Murray Street site sits just south and west of 101 Warren, another Minskoff development whose condos sell at an average price of $2,100 p/sf according to CityRealty.
The 129 condos of 101 TriBeCa may face some stiff competition as Lower Manhattan continues to evolve at a record-setting pace. One block south of the Murray Street site, Ben Shaoul is bringing 161 condos to the upper floors of the former Verizon building at 140 West Street. Larry Silverstein’s 30 Park Place is rising a few blocks inland with 157 condos at an average price of $3,200 per square foot. And let’s not forget Alchemy Properties’ own Woolworth Building conversion bringing 34 high-priced units on the market including a staggering 5-story penthouse priced at $110 million.