[Rendering by Pei Cobb Freed & Partners Architects LLP via Massey Knakal.]
A large development site east of City Hall Park is being marketed to buyers as a potential location for some future FiDi residential tower—as if there aren’t enough going up in the area already. Massey Knakal has the official listing for 1 Beekman Street, also known as 33-34 Park Row. If bought, the lot, which houses two low-rise buildings, would change hands for the first time in 40 years. To help with the visualization process, MK offers buyers two renderings by I.M. Pei’s Pei Cobb Freed & Partners Architects of a glassy tower on the spot that makes use of the potential 87,300 buildable square feet. The Post first reported the opportunity yesterday, projecting that the site could sell for more than $50 million. Tribeca Citizen reports a rumor that veteran electronics store J&R is closing, citing “the value of Manhattan real estate vs. the state of brick-and-mortar retail” and portending even more change for this stretch. If the right developer takes the bait, could we have another (slightly smaller) New York by Gehry on our hands, and the beginning of a Park Row development boomlet?
[Rendering by Pei Cobb Freed & Partners Architects LLP via Massey Knakal.]
This is the first trade of the development site in more than 40 years. Two low-rise buildings, together totaling roughly 25,000 square feet, currently occupy the location, also known as 33-34 Park Row.
The so-called “Pearl on the Park” site can hold between 73,000 and 87,300 buildable square feet, according to the listing with Massey Knakal Realty Services’ James Nelson and Will Suarez.
When the site first hit the market, Pei Cobb Freed & Partners Architects created a concept rendering for the site, envisioning a glassy tower in the middle of the booming residential market. Condos in the area sell for $3,000 per square foot. When the site hit the market, brokers estimated it would fetch about $50 million. Sharonarn Associates is the seller.
The site could hold a minimum of 48,500 square feet of residential space, or 52,200 square feet if 5,000 square feet of recreation space were created, according to the listing. The site also holds up to 14,550 buildable square feet that can be used for retail or commercial space. If the site receives a plaza bonus, it could allow for a project of up to 87,300 square feet.
I think the site has the potential to be expanded-- 29 Park Row and a few other low-rises could be acquired, or at least their air-rights could be bought. That’s just my speculation.
Cool. This is the building that will rise on the north side of the site, as I recall. I remember seeing a nice rendering, but that may have been just for marketing purposes in connection with the sale. The south-end of the site 23-31 Park Row has a lot more square feet (I think).
Good to see this u/c. Moved. 335 ft and a solid filler at 25 floors. I believe those are the specs based on the diagram a few posts up. Title will reflect that.
25-Story, 95,000 square foot ground-up mixed-use residential development
…
Scheduled for completion in Spring 2018, the project includes 31 homes from 900 to 2,900 square feet, three commercial units of approximately 4,500 square feet each and one retail unit of approximately 3,200 square feet.
…
Loggias / Outdoor Space
One Bedroom Convertible to Two Bedroom Unit Concept
Contemporary Architecture by Rogers, Stirk, Harbour + Partners
Double-height spaces augment the column-free interiors.
Side screens create a depth and materiality which resonate with the adjacent buildings and City Hall Park.
The loggia structures form an inhabited wall to be occupied by the residents, visible from within the apartments.
The public green space of the Park is mirrored by private green space on the uppermost floor of the building.
