Aby Rosen’s controversial project for 67 Vestry Street in Tribeca is moving forward, much to the dismay of neighborhood residents.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
Permits have been approved for the partial demolition of the site’s existing structure. He can now go ahead with demolition of the building’s interior, but must still wait for approval to tear it down completely.
Rosen plans to build a new, 11 story, 134 foot tall residential building with 43 units and 50, 162 square feet. It will include storage space and an indoor recreation facility. Floors 2 through 5 are slated to have six apartments each and floors 6 through 11 will have 3 larger apartments each.
The 101 foot wide lot at 67 Vestry currently holds a loft building dating back to 1897. It was originally a warehouse that served the Great Atlantic and Pacific Tea Company in New York.
Residents of the brown brick, nine story building located there tried to have the old building saved by getting it declared a landmark. In an on line petition posted together with community group Tribeca Trust they said, “Landmarking this handsome former warehouse would anchor the besieged Tribeca North Historic District nearby and provide visual evidence of a great period in our country’s commercial history. This building also was a keystone building that housed many great artists whose presence in Tribeca launched Tribeca’s revival as a great urban neighborhood. This part of the building’s story should also be honored.”
Tribeca residents fear that the increase in residential development in their neighborhood has outpaced the development of new infrastructure causing overcrowding and a diminishing of their quality of life.
They are hoping that a delay in acquiring permits to tear down its façade may mean that it will at least be preserved.
Rosen first acquired the property back in 2011 for $16.5 million.
In other Aby Rosen news, The Real Deal is reporting that he is the buyer of New York City’s Church Missions House at 281 Park Avenue South. This is in contrast to earlier reports that a wealthy Italian family had paid the $50 million for the property.
Rosen’s RFR Realty is said to be planning on converting the Church Missions House into an office building which should be attractive to companies looking for a location in midtown Manhattan. Rosen might also covert the lower two floors of the 36, 749 square foot building into a retail shopping plaza.