Cape Advisors shelled out $50 million for six buildings in TriBeCa last year. On Wednesday, they filed plans to erect an eight-story condo building at 75 West Broadway, on a site that stretches a full block between Warren and Murray streets.
Eight businesses in these buildings have shut their doors since December, including a strip club, a 33-year-old dive bar, a British tavern, a pizza spot, a Thai restaurant, and a Mediterranean-Italian eatery.
The development would reach 120 feet into the air and hold 21 apartments. They’d be spread across 45,413 square feet of residential space and stacked on top of 9,653 square feet of retail.
Each of the upper floors would hold two to four units each, and several units would come with private terraces. There will also be a shared terrace on the second floor and an 18-car garage in the cellar. The parking isn’t required, but luxury condo buyers always expect parking.
BKSK Architects will design the project, which means that the design could be more traditional than Cape Advisors’ other upscale condo project a block away, 30 Warren Street. That development will also fill a whole block – on Church between Warren and Chambers streets.
The developer will need to sell condos for at least $3,000 a square foot to justify the hefty amount they paid for the property last year, as Crain’s noted at the time. That $50 million sticker price means Cape paid closet to $1,000 for each square foot of their planned building.
75 West Broadway appears to be a new address. The buildings set to bite the dust includes the addresses 61-69 and 71 West Broadway, 59 and 61 Warren Street, and 57-61 Murray Street.
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