After a stop-work order paused construction last fall, construction has resumed at 19 Park Place, which is now edging above neighboring structures. The site’s developer is ABN Realty, and the architect is Ismael Leyva.
19 Park Place
19 Park Place will eventually stand 21 stories to its roof, and the tower will be entirely residential. While the project would have had the opportunity for minor local prominence, that chance has come and gone; since construction resumed, Silverstein’s 30 Park Place — located directly across the street — has also begun its ascent, and already stands taller than 19 Park Place’s eventual pinnacle.
19 Park Place and 30 Park Place
Recently approved permits indicate slight changes to the development’s composition, and it will also be slightly taller than previously reported. 19 Park Place will now rise 252 feet rather than 232, and the number of units has shrunk from 29 to 24. Both modifications would indicate the site is shifting towards an even higher-end product, with generous ceiling heights and an exclusive feel to the building positioning it at the head of the ‘luxury boutique’ market.
Blurry On-Site Rendering
On-site signage gives September of this year as the planned completion date, though that would seem slightly optimistic given the current state of construction; a 2015 target is likely more realistic.
At the bottom of Tribeca, on opposite sides of Park Place, two very different buildings continue to rise.
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In the foreground of the shot sits 19 Park Place, previously dubbed the Tribeca Royale, designed by Ismael Leyva and developed by ABN Realty. At 252 feet and 21 stories, it isn’t that tall, but its very small footprint makes it stand out: it sits on an elongated, 150-feet-deep through-block tenement lot, with just 25 feet of street frontage on either side.
Each resident of the 24 condos will have one of the massive circular balconies that define the project, and Curbed says asking prices will “center around $19 million.”
The lot was made possible by a rare combination of circumstances, and a building with such proportions is not likely to be repeated too many times nearby. The site sits outside of the core of the downtown central business district, so it was never joined with other lots for a skyscraper. But it’s also generously zoned, to a maximum floor-area ratio of 10, and lies outside of the historic and special use districts that blanket the rest of Tribeca and would prohibit such a tall, modern building.
Both projects will test the reach of the downtown ultra-luxury market, as Park Place sits outside of the most prime area, and the surrounding neighborhood arguably feels more like the Financial District or Civic Center than Tribeca.
Regardless, completion of 19 Park Place is expected by 2015, and 30 Park Place will wrap up by 2016.
