Nestled in the heart of Manhattan’s exciting Tribeca neighborhood, 250 West Street condos, originally a warehouse built in 1906, is now currently in the midst of a luxury condominium conversion. Developed by the Elad Group with the keen eye of architecture firm Gal Nauer, and planned to officially open in the first quarter of 2013, the luxury apartments in this 11 story, 111 unit building have been selling more quickly than they are being built. In fact, over 25% of the luxury condominiums within 250 West Street, though still unfinished, have already been sold, even with an array of other hot buildings in this historic New York City neighborhood. Drawing headlines and the gaze of many who keep tabs on the New York City real estate scene, we at New Construction Manhattan decided to investigate this up-and-coming Manhattan condominium.
Perhaps most important about 250 West Street, is this condo conversion’s historical roots. Originally built in 1906 as a warehouse, it had remained nearly untouched by the sands of time throughout the 20th century. The facade that will greet residents of 250 West Street upon completion will pay special attention to exterior and interior aesthetics. 250 West Street has also returned to its historic early 20th century roots, with iron gates as well as a grand entryway. When one steps back to look at the whole package, 250 West Street will offer an affluent lifestyle within NYC’s Tribeca neighborhood. With its location in Tribeca’s Landmark Historic District, 250 West Street’s new condominium conversion claims to walk the line between modern luxury apartments and facilities while still keeping in line with the area’s storied past.
Just a few years ago, however, it appeared as if the 250 West Street project would never get off the ground. 250 West Street traded hands several times, with many development firms eyeing the property but seemingly unable to make it profitable, yet it would appear that Elad’s persistence paid off in the end. With prices ranging from $1.15 million for studios to $9 million for 3 bedroom luxury apartments, it will not be long before all of these Manhattan condominium units are sold -- and well before anyone can move into them.
250 West Street is a buzzed-about building in an exclusive area of New York City, two of the many factors contributing to its sales success even during its renovation. With its location in the cultural mecca that is Manhattan’s Tribeca neighborhood, it isn’t a stretch to imagine that these luxury condominiums will continue to fly off the shelves. If anything, sales could easily increase as more people become aware of its existence. Soon, the luxury apartments at 250 West Street will transition from its developers’ dreams into an exciting reality for perspective buyers, perhaps transforming Tribeca in the process.