Posted Dec 16, 2014, 11:33 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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http://therealdeal.com/blog/2014/12/...-site-for-52m/
Urban Muse buys FiDi development site for $52M
December 16, 2014
By Claire Moses
Quote:
Glauco Lolli-Ghetti’s Urban Muse bought 1 Beekman Street on the border of Tribeca and the Financial District for $52 million, according to property records filed with the city today.
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.
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.
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