Inside the penthouse (L); The former facade of the building still as Pearl Paint (R)

Tribeca artists’ mecca Pearl Paint–the 80-year-old art supply retailer at 308 Canal Street–closed just over two years ago, and in May, Trans World Equities filed permits to convert one of the buildings into four “bespoke full-floor lofts” and build a two-story addition above the 150-year-old cast-iron structure, now going by 42 Lispenard Street. Two are already in contract, but the newly-listed penthouse awaits, with a prospective winter 2016 occupancy date.

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Back in 2014, New Yorkers lamented the shuttering of Pearl Paint, the legendary 80-year-old art retailer that had been located on the border of Tribeca and Chinatown since 1933. Any self-respecting artist, architect, or designer will surely remember trudging up the six flights of creaking floor boards and hunting down bargain-priced supplies, but this will soon become an even more distant memory as just yesterday, Trans World Equities filed permits to convert one of Pearl Paint’s former buildings into eight residential units and build a two-story addition above the 150-year-old structure at 308 Canal Street.

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