Published On: Thu, Jan 21st, 2016

Chetrit aims for $334 Million sellout at 49 Chambers conversion

Developer paid city $89M for FiDi building in 2013


Sony_Building-From left 49-51 Chambers Street and Joseph Chetrit


Amid a Downtown condominium boom, the Chetrit Group is aiming for a $334 million sellout of its forthcoming conversion of 49 Chambers Street in the Financial District.

The developer is planning 81 condominium units at the 14-story Beaux-Arts building, according to an offering plan filed Jan. 12 with the state’s Attorney General.

The property was once home to Emigrant Industrial Savings Bank and, in recent years, New York City government offices. Chetrit paid the city $89 million for the building in 2013.

Condominium units will range from one- to four-bedrooms. Plans filed with the Department of Buildings call for six condos on the second floor; seven units on floors three through nine; six apartments on floors 10 through 12; five on floor 14; and three on the 15th floor.


Read the full story at The RealDeal, by E.B. Solomont


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