Tribeca Summit Shakes Up Management, Keeps Selling Units

Tribeca Summit in New York CityLast week, we talked a bit about the management issues at Riverhouse, the super-green condominium in Battery Park City that is continuing to sell condos despite a legal shouting match between its developers and managing corporation. It's a problem that Tribeca condominium Tribeca Summit, at 415 Greenwich Street, can relate to. Luckily, though, Tribeca Summit -- like Riverhouse -- has some good news to go with the less-good. According to NYC real estate website Curbed, even what looks like less-good news -- the fact that Tribeca Summit's financiers have taken over from its developers -- may wind up being good news for buyers.Condos for sale have continued to move at Tribeca Summit, which is over 50 percent sold, but the months of legal entanglement have created some uncertainty around the luxury pre-war conversion condominium development. "This should be good news for buyers as (financier) KBS is a reputable firm and likely will be much easier to deal with as new sponsor" than the previous developers, a source tells Curbed. The condos for sale at Tribeca Summit are pretty sweet in their own right, but they'll be made that much more appealing by the fact that the condominium's squabbling-money-dude problem seems to have resolved itself.

NYC Daily Real Estate Blog