Good Property Plucks Rare Conversion Spot on Bond Street

The Real DealDecember 02, 2013
Joshua Gurwitz’s Good Property picked up 31 Bond Street in an off-market sale and will likely transform the property into one of the nabe’s many new luxury projects.

CORE’s David Beare represented Gurwitz in the sale, and said that the exact plan for the building, located on a popular NoHo stretch, will be announced within the next year.

The amount Gurwitz paid for the property was not disclosed, Crain’s reported.

“It is probably going to be one of the last development opportunities on Bond Street,” Beare told Crain’s.

Directly across the street is hotelier Ian Schrager’s 40 Bond Street, where Latin crooner Ricky Martin recently listed his $8.3 million condominium, and BKSK Architect’s 25 Bond Street and DDG’s 41 Bond Street are close by.

The previous owners, CC NY Realty, who paid $3.54 million for the property in 2011, according to city records, were not looking to sell when Beare approached them, he told Crain’s. Beare said that he came across the building on a neighborhood stroll and thought it would be a great spot for a residential conversion. He linked the owners to Gurwitz, who enthusiastically latched onto the idea of purchasing.

CORE will be marketing the units once conversions are completed, Beare told Crain’s.