Landmark NYC Office Tower To Be Half-Converted Into Condos

Posted by Orb Staff on August 08, 2012 No Comments
Categories : Commercial Mortgage

12149_woolworthbldg Landmark NYC Office Tower To Be Half-Converted Into Condos One of the New York City's most prominent office towers is being reinvented as a luxury condominium.

The New York Times reports that the top 30 floors of the Woolworth Building will be turned into about 40 apartments that will be sold as condominiums. The top of the building will be converted into a five-level penthouse of approximately 8,000 square feet, and a long-unused 55-foot-long basement swimming pool in the building's basement will be refurbished for future residents. The apartments are expected to be ready for purchase in 2015.

Originally built as the corporate headquarters for the Woolworth Co., the Woolworth Building was the world's tallest building when it opened in 1913. The redevelopment of the Woolworth Building follows the July 31 purchase of the Woolworth's Building upper floors by Alchemy Properties, a New York development group. The lower 28 floors are owned by the Witkoff Group and Cammeby's International, which will continue to lease the space for offices.

(Photo courtesy of A View on Cities)

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