101 TriBeCa, Image by KPF

The Tribeca property formerly known as 101 Murray Street is now 101 Tribeca. The site's new moniker underlines its flagship status amid the plethora of futuristic-looking architectural conversions in the remarkably popular area. New York YIMBY has reported 101 Tribeca's new renderings that reveal a massive gleaming tower that approaches 1000 feet skyward.

Fisher Brothers and The Witkoff Group are developing the new building, for which no completion date is set. The 63-story glass structure is expected to accommodate 129 lavish condos embellished within 433,800 square feet, that generate staggering New Jersey, Long Island, and intra-borough views due to the building's expected locality and lofty size. All things considered, 101 Tribeca's pricing will be colossal.

Buildable Tribeca land valuation and condominium prices have skyrocketed in recent years, and high demand for the area's ultra-luxe digs have fueled these increases. The lower Broadway realm of Tribeca's "Chibeca" (so-called for its close proximity to Chinatown) has undergone the neighborhood's most significant changes, with new and anticipated office-turned-residential properties selling at record prices. The Keystone Group closed the deal at 391 Broadway, a commercial building soon to be converted into four residential lofts and retail space. Just down the road, buyers have their eyes keenly set on 93 Worth Street, which features 92 condo units and a doggie cleaning station. Architect Ismael Leyva designed the mega-modern Tribeca Royale at 19 Park Place, a property closer to 101 Tribeca.

St. John's University sold 101 Murray Street to Fisher Brothers and The Witkoff Group for $223 million. The Austrian architectural firm Coop Himmelb(l)au stepped up to the plate and volunteered a widely disliked rendering for the site dubbed "Sky Wing Tower" that more resembled a monumental glass tchotchke puncturing the Tribeca skyline than a functional residential tower. Reps for the developers have asserted that Coop Himmelb(l)au, along with their design, is not linked with development plans for the site. Developers hired Kohn Pedersen Fox who has produced the location's official, and a great deal more aesthetically pleasing, design.