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Tribeca Building to be Transformed

Crain's // Oct 05, 2011

New residential developments are what everybody is talking about in the New York City real estate world these days, and Crain’s just let word slip of one of the newest: 93 Worth Street, a 13-story former office building that was just purchased for nearly $50 million by the Izaki Group. The 165,000-square-foot building will be converted into 92 apartments to be sold and marketed by CORE. Built in 1924, the vintage-looking 93 Worth Street is located along a booming stretch of Broadway in TriBeCa, the downtown Manhattan neighborhood that has become synonymous with converted loft residences and the celebrities who love them.

CORE executive vice president Doron Zwickel told Crain’s that apartments will range from studios to four-bedrooms, and be priced from $1,250 per square foot to $2,000 per square foot. “The prices will be in line with other residential developments in the neighborhood,” he added. “We will be competitive and aggressive.” Amenities at 93 Worth Street will include a gym, children’s playroom, residents’ lounge and 3,845-square-foot roof deck, but renovations have yet to begin, so this one’s still a bit in the future. And based on what we know about new Manhattan development heading forward, that future is looking more and more bright.

Original Article: Crain's