Construction Update: 19 Park Place

19 Park Place19 Park Place

Foundations for the Ismael Leyva-designed 19 Park Place – which has been dubbed ‘The Tribeca Royale’ – are nearly complete, and the sliver-building will soon begin to reach skywards. At 21 stories and 232 feet it will be relatively short, but its immediate neighbors are low-rise buildings, so it will enjoy minor local prominence – emphasis on local, as the 937-foot 30 Park Place is rising across the street.

A partial stop-work order was filed on the 21st, but the problem is apparently minor and the delay should be resolved relatively quickly.

With a total of 29 units, 19 Park Place will be boutique luxury, catering to an under-represented section of the Downtown market. As developments like 11 North Moore have shown, demand for small buildings is very high, and 19 Park Place should not be an exception, especially as many units will be full-floor.

Developed by ABN Realty, 19 Park Place has taken several years to leave the drawing board, as the structure was originally proposed prior to the recession; now that boom times are apparently here again, it will help transform a neighborhood that is seeing a surge in luxury construction. Besides 11 North Moore and 30 Park Place, 15 Leonard Street, 56 Leonard, and 71 Reade Street are also in the vicinity, all of which are aiming for super high-end buyers.

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