A pair of condo buildings is set to replace two stories of retail and office space on a sleepy residential block in the West Village. New building applications were filed over the weekend to erect two connected six-story buildings at 703 Washington Street, on the corner of Perry Street and a block east of the West Side Highway.
The six-story development would bring six apartments to a block dominated by squat, 1970s brick co-op buildings. Those six units would be divided across 28,691 square feet of residential space, creating typical units of 4,815 square feet.
One building would hold five units—four full-floor apartments and a duplex on the first and second floors. The second building would be a six-story townhouse with a garage. Both would have private roof decks.
The developer is listed as Kevin Young, of Stamford, Conn.-based Greenwich Heights Corporation. However, Point72 Asset Management appears to be the company behind the corporation. Leroy Street Studio, headquartered on Hester Street on the Lower East Side, will handle the design.
The corporation picked up the 8,250-square-foot property for a hefty $38,806,000 back in 2012. That works out to $1,352 for each square foot of its planned development.
The site sits at the western edge of the Greenwich Village Historic District, and the Landmarks Preservation Commission will have to approve the demolition of the current building and designs for the new ones.
This isn’t the first time developers have tried to build apartments on the site. The property has several failed new building plans on file, stretching back to 2007.
Several blocks along the West Side Highway, including this one, were originally zoned for manufacturing and heavy commercial uses. Then in 2005, the Bloomberg administration rezoned the area to allow for mid-rise, mixed-use development.
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