I was so close. I almost worked on this 4 story high-end residential addition to a parking garage in Little Italy. We got as far as doing probes to survey the existing steel structure, developed construction budgets, worked with the architects on the project specifications and created a hyper-detailed schedule. I even produced a short video on how we were going to build it.
Well, the client decided to sell it. It would’ve been a great project to work on. Alas, it wasn’t meant to be. The new owner revised the plans and is now in the process of creating a luxury condominium. You will not believe what it will cost to buy into the new 224 Mulberry Street. As I saw recently on Curbed.com…
“The site of a former parking garage on Mulberry Street doesn’t seem ripe for breaking real estate records, but that’s pretty much exactly what architecture and development firm Flank plans to do at their new condo 224 Mulberry. The project’s broker, Tim Crowley, told the Times the prices will be “unapologetically high,” about $3,500 per square foot, ranging from $6 million to $30 million. “We’re going to set records on Mulberry Street obviously,” said Crowley, “but we’re in line with the other high-end, really-sought-after real estate in the city.” The average cost for new construction in the tiny NoLita neighborhood hovers around $2,000/psf. So what justifies the nosebleed prices for the boutique 7-unit building? According to Flank, the size, quality, and amenities.
As explained in the New York Times,
“The eight-story building will be quite tall, at 110 feet, because some of the units will have living rooms with 25-foot ceilings, he said. And because NoLIta is a low-rise neighborhood with zoning restrictions of 80 feet, the higher floors of 224 Mulberry should have unrestricted views in perpetuity, Mr. Kully said.
Flank is able to build so high because “we’ve had an active permit for over five years, and a down-zoning took place after the permit was issued,” he said.
A 40,000-square-foot building, 224 Mulberry will replace a four-story garage that had a distinctly patterned enameled-brick exterior. That building was too expensive to salvage, but Flank chose to pay homage to it with Art Deco touches like black-and-white penny-round mosaic flooring in the bathrooms, Mr. Kully said.
There will be elevator-accessed parking beneath 224 Mulberry, which has a garage entrance adjacent to the pedestrian entrance. All units will have at least one parking space; some will have two. A 24-hour doorman will also park cars.
With an exterior of Roman brick on the first four floors, and top floors of cast stone and brick set back 10 feet, 224 Mulberry will have private terrace space for each unit along with a common roof deck. The other amenities, all of which will be free like the parking and the roof deck, include a gym and storage space.
The windows are to be old-style weight-and-chain mahogany structures; though divided into panes, they’re grouped into 10-by-10-foot openings, increasing the amount of light in the apartments. Elaborate brickwork, especially around windows that have cast-stone sills and jambs, will add texture to the facade, Mr. Kully said.
Kitchen cabinetry, including unusual upper cabinets of glass embedded with wire mesh, will be manufactured by the English kitchen designer Smallbone of Devizes. Floors will be white oak of mixed widths, and islands will be marble with a “waterfall” effect in its grain, Mr. Kully said.
Luxury Moves to Mulberry Street – NY Times
224 Mulberry – Official
224 Mulberry Street coverage – Curbed NY