The demand for high-end Manhattan apartments is a topic that has been covered tirelessly and extensively on New Construction Manhattan. As we mentioned earlier this month, the list of luxury condos buildings scheduled for 2012 is optimistically plentiful and highly reminiscent of the strong sales numbers from the fourth quarter in 2011. The real estate conversion movement from institutional buildings into luxury condos has garnered a great deal of attention and the New York Times recently reported that this is just the beginning. More than ever, developers are now tearing down the walls of smaller apartment units and combining them into fewer but bigger luxury condos.

Hope buyers of Tribeca Space didn’t hold their breath since March 2006 when the converted condos at 25 Murray Street initially went on sale, selling out in a New York minute. Those who purchased the loft apartments for sale at Tribeca Space have been waiting for the converted building to receive the temporary certificate of occupancy, the golden ticket for closing sales in real estate. Well, not really as 40% of the initial buyers withdrew their contracts from Tribeca Space. Of the 74 apartments for sale in Tribeca Space, 28 have become up for grabs and 10 of the apartments for sale are being offered at 5-10% discounts and the rest will be available for purchase after Memorial Day. While it is currently the best time in the increasingly better market to buy, Tribeca Space seems to finally have its timing right; it has been granted its temporary certificate of occupancy by the Department of Buildings and is on its way to scheduling closings, if nothing else gets in its way.