In 2012 the 30 highest floors of Cass Gilbert’s iconic 1913 Woolworth Building were sold to New York real estate developer Alchemy Properties for $68 million, with the intent to transform the top half of the 60 story building into luxury condominiums. Only three years later and just shy of the 792 foot tower’s 102nd birthday, the opportunity to own a piece of New York history is getting closer. The Woolworth Tower Residences are approaching completion, with the $150 million project set to open in July 2016.
Although sales have not officially launched, the sales team at Alchemy Properties have confirmed that several of the 34 residences are already in contract. While pricing is yet to be revealed by the developer, apartments are expected to sell for north of $3,000-per-square-foot, more than twice the price of the Financial District neighborhood average. The offering plan, which was approved by the New York Attorney General’s Office in mid-2014, revealed the building will be priced from $3.9 million for a 1,300-square-foot one bedroom on the 44th floor.
Residences will begin on the 29th floor of the Neo-gothic tower, with two exclusive three and four bedroom “Pavillion Residences” located at the base of the development on the 29th and 30th floor. Distinguished by their large private terraces, Pavillions A and B will be listed north of $20 million. The top floors of the landmarked be occupied by a seven-level 9,400-square-foot penthouse offered at a record breaking $110 million. Referred to as “The Pinnacle Penthouse” and “Castle in the Sky” by its developer, the Woolworth Building’s penthouse will arguably be the most spectacular property in downtown Manhattan, offering three bedrooms, a double-height great room, a private elevator, and a library in the observation deck.
Thierry W. Despont, acclaimed French architect and the world’s foremost designer of extraordinary restorations including landmarks such as New York’s Statue of Liberty, was enlisted to reimagine the historic space. Mr. Despont spared not a detail in the sophisticated design of each private residence, with custom made kitchens boasting maple cabinetry and millwork, Statuary marble countertops and backsplashes, dark Herringbone oak floors, and integrated Miele appliances.
The full service building will have a private entrance for residents located at 2 Park Place, its lobby fully restored and staffed by a 24 hour doorman and full-time concierge. Amenities include The Woolworth Pool, an elegant residents only retreat situated on the concourse level and enhanced with spa elements including a sauna and hot tub. Additionally, the social and leisure offerings include the 29th floor Gilbert Lounge, a Personal Fitness Studio on the 13th floor, and the concourse-level Wine Cellar and Tasting Room.
-by Lizzie Crittenden