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Real Estate Showcase - Conversions

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THE BEST OF THEN AND NOW

Mix timeless old world craftsmanship with contemporary downtown luxury and you have 50 Pine Street, a 12-story gem in the heart of the financial district. This 1902 building, overlooking Chase Plaza’s famous Dubuffet sculpture and Noguchi fountain, has recently been converted by Metro Development Corporation to 20 impressive loft condominiums. Says Halstead sales agent Jon Phillips, “This residence is like a double-width townhouse in the East 70s.”

Many superb vintage features have been retained, including the carved granite entrance and inlaid marble mosaics in the hallways. All the best new materials have been used as well. Of the oversized windows, Phillips says, “No everyday aluminum double-hung - these are handmade ebonized oak by a company in Prague.” Kitchens have Bosch dishwashers and external venting; Milanese-accented bathrooms feature Zucchetti chrome faucets. The deeply fashionable neighborhood has gourmet groceries, farmers’ markets, loads of dining and super-convenient transportation. Starting at $1.122 million.

JON PHILLIPS | GINNIE GARDINER
212.381.6549 | HALSTEAD PROPERTY, LLC

 
   

FROM WAREHOUSE TO YOUR HOUSE

A monumental 1913 warehouse at 415 Greenwich Street has just been reincarnated as the 66-condo Tribeca Summit. Architect H. Thomas O’Hara has brought sumptuous modern comfort to this splendid piece of history. Now offering up dazzling lofts, duplex penthouses and more, James Lansill, senior managing director of the Sunshine Group, refers to this building as “the last great condo conversion in Tribeca.”

One striking feature is the marvelous use of seven original loading bays as natural canopied entrances to seven private, terrace-level “Bay Houses” - sprawling family residences, ideal for Manhattan lifestyles. All home interiors merge contemporary and traditional, achieving understated luxury with natural materials and eco-favorable design elements such as bamboo flooring. The incredible updated courtyard brings added light and beauty. Other pluses: concierge, fitness center, children’s playroom, on-site parking. Also, Tribeca Summit is in top-rated P.S. 234 school district. $2.15 million to $6 million plus.

DENISE ANDEREYA | 212.965.0030 | THE SUNSHINE GROUP

   
         
   
    LIVING HIGH ON LOWER FIFTH

The Grand Madison at 225 Fifth, a converted century-old landmark opposite Madison Square Park, is winning raves on all fronts - affordable prices, spacious living and healthy resale values. It offers home buyers a choice of 192 spectacular units, including 22 penthouses. “Our one-bedroom residences have the look, size and feel of two-bedrooms - and they function that way, though they’re priced much lower,” says Dana Pecorella, president of Cantor Pecorella, the property’s exclusive sales agent. “Best of all, resale values are phenomenal here,” she adds, citing 225 Fifth’s enviable location along with its historic features and excellent amenities.

Converted by Elad Properties, the Renaissance Revival brick and limestone building is decked with romantic balconies and elaborate detailing, and has a lovely landscaped interior courtyard. Its homes boast spacious open layouts, ceiling heights up to 12 feet, and sweeping vistas of lower Manhattan and the nearby Flatiron Building. From $940,000 to $4.8 million.

DANA PECORELLA | 212.679.5252 | CANTOR & PECORELLA INC.
       
         
“It’s a challenge to plan living space in converted buildings, what with strange floorplans and load-bearing walls in unusual spots, but the fact is people love the character of these homes,” says Marvin H. Meltzer, vice-president of Meltzer/Mandl Architects. “And because commercial spaces tend to be deeper and larger, we’re often able to incorporate extra rooms.”  
 


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