Sunday, May 12, 2013

Italian Developers Plan Condo Conversion on Leonard Street

At the end of last year, Italian developers Bizzi & Parners paid $53 million for a 12-story office building at the corner of Broadway and Leonard Street in Tribeca. Now, it seems, the property at 101 Leonard Street is headed for a condo conversion. The developer, best known for building the Setai at 400 Fifth Avenue, plans to create 66 luxury residences with state-of-the-art design and construction. 

Residences at The Leonard will range from one to four-bedrooms, plus penthouses, with ceiling heights ranging from 11 to 18-feet. Pricing will be from $1 million to $4 million-plus.

Lifestyle amenities which resonate the style of the trendy neighborhood will include a full-time concierge and 24-hour doorman, a roof deck, fitness center. The ground floor will house upscale retail boutiques and salons.

The Milan-based firm bought the 12-story building, which originally had the address 350 Broadway, from Extell Development for $53 million late last year.
Prior to the deal, the building had changed hands three times since 2006.

Leeding Builders Group of Manhattan is the General Contractor for this project.