20 greene street In the heart of SoHo s historic cast iron district New York, NY

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1 20 greene street In the heart of SoHo s historic cast iron district New York, NY approximate size Ground Floor 3,300 sf Basement 2,000 sf term Long term possession Immediate frontage 35 feet on Greene Street ceiling heights Ground Floor 18 feet Basement 11 feet neighbors Ingo Maurer, C.I.T.E, USM Modular Furniture, BoffiSoHo, Acne, Fjallraven, Brian Kish, Foscarini, The Webster (coming soon), Studio Anise, Lazzoni and Blackbody

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4 developments on the block Sitt son buys chic Soho site A new joint venture between Colt Equities and Ruby Ventures has paid $14 million for the leasehold of 11 Greene Street and plans to build a mixed-use development at the site. Plans for the property include 16,000 s/f of total groundfloor and lower-level retail space as well as over 30 rental units on floors 2-6, with a partial mezzanine level on the 7th floor. SoHo continues to be one of the most unique and vibrant neighborhoods in all of New York City, said Ilan Rubinstein, managing partner of Ruby Ventures. This Greene Street property holds enormous potential for chic retailers and will feature state-of-the-art residences designed with the finest and most luxurious amenities this city has to offer. Located on a cobblestone SoHo street, surrounded by cast iron buildings, the property offers 172 feet of frontage on Greene Street and over 65 feet on Canal Street. The site, which is currently being operated as a surface parking facility, consists of a 13,090 s/f lot, which allows for the development of a building featuring more than 75,000 gross buildable square feet, including sub-grade space in a seven-story envelope. With its five-star dining, signature shopping and prime apartment buildings and hotels, SoHo is a top-tier neighborhood for residents and tourists alike, said Jack Joseph Sitt, founder of Colt Equities (and son of real estate veteran Joseph Sitt of Thor). The ability to develop this property into a world-class residential and retail property is a rare opportunity, and one which provides unmatched potential in a red-hot real estate market. Considered one of the world s premier shopping destinations, SoHo attracts an international clientele that flock to the area to take advantage of its unmatched retail offerings. The Greene Street property offers retail brands a prime location with maximum exposure, just steps from luxury retailers Stella McCartney, Tiffany s, Chanel, Marc Jacobs, Prada and many more. SoHo has undergone a revitalization in recent years with an influx of tech professionals. Building on that resurgence, there are reports that Google will open its first brick-andmortar store just a few blocks from 11 Greene Street. The commercial and residential real estate market in SoHo is booming and there is no better location for luxury living and best-in-class shopping than Greene Street, Rubinstein said. 11 Greene Street will encompass both of these characteristics and serve as a symbol of why SoHo continues to be among Manhattan s hottest neighborhoods. Source:

5 Partially Destroyed Store-and-Loft Building Receives Restoration Approval Planned four-story addition will reconstruct the historic cast iron facade, add contemporary set-back penthouse. On August 13, 2013, the Landmarks Preservation Commission considered and approved a plan to add four stories to an existing building at 29 Greene Street, Manhattan in the SoHo-Cast Iron Historic District. The building, completed in 1878, originally stood at four stories, but a fire reduced it to its current height of two stories. The building will be used for office space with ground-floor retail use. Architect Larry Wente, of Gertler & Wente, presented the proposal, which would add three stories at the plane of the existing facade, with a sixth story set back fifteen feet. The set back portion would be partially visible from some street vantages. Wente described the building s current status as that of a missing tooth on the block. In considering a plan for the site, architects determined that enough historic fabric and detail remained on the existing building to retain and restore the cast iron elements on the extant two stories, while replicating its facade on the upper addition. The design for the cornice was drawn from cast-iron buildings of the same time period in the neighborhood, and would likely be made of sheet metal. Three new doors would be installed on the ground floor, and a non historic sidewalk vault would be removed, while piers and transoms would be restored. The penthouse story would be clad in cement panels, and the sidewalls and rear facade of the lowers stories would be faced in red brick. Wente said they had made the decision to set back the sixth floor because six stories at the street wall would not be a common archetype for a twenty-foot-wide lot. Owner Laure Debreuil said she was excited for the opportunity to restore such a beautiful gem. A representative of Manhattan Community Board 2 read from a resolution that generally recommended approval of the projected, but objected to the removal of a loading dock from the property. The Historic Districts Council s Nadezhda Williams also found the plan generally appropriate, but urged the applicants to use cast iron for decorative elements. Commissioner Fred Bland found the reconstruction in the historical idiom a perfectly plausible approach to development, and found the penthouse s visibility not to distract from the main building. Commissioner Joan Gerner agreed on the appropriateness of replicating existing material, and called the proposal very sensitively done. Vice Chair Pablo Vengoechea generally concurred, but thought the penthouse should be reduced to minimize visibility, and that cast iron, rather than sheet metal, should be used for the cornice. Vengoechea also thought some aspects of the materials should be reconsidered, in particular the meeting of the brick and the cement panels. Chair Robert B. Tierney found the proposal approvable as presented, but asked the applicants to consider lowering the penthouse, and to look at the materials again with Landmarks staff. Tierney then led a unanimous vote for approval. Source:

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