Luxury Condo Designed By Renzo Piano To Be Built On Varick Street
Tunnel Vision Expands The Boundaries of Soho.
It’s no great secret that areas near a tunnel entrance in Manhattan tend to fall in the “less than desirable” column when it comes to real estate in the city. So it’s understandable that developer Davide Bizzi needed some encouragement before purchasing a slice of land near the corner of Broome and Varick—right at the mouth of the Holland Tunnel—to build a gleaming new 30-story condo.
“In the beginning, I was afraid of the tunnel,” said Mr. Bizzi, a global developer.
But like many areas in the five boroughs, times are a changin’. That’s what Douglas Elliman Real Estate chairman told Bizzi about the evolving downtown real estate scene, if perhaps not in those exact words. The 2013 rezoning of Hudson Square in 2013, for example, are causing the “desirable zone” to drift further and further from center.
“It feels like things are on the cusp of significant change—there are more people walking about,” said Sotheby’s International real estate agent Jeremy V. Stein, who lives in the area.
The stark lines that historically carved up lower Manhattan into such storied areas like SoHo and TriBeCa are becoming decidedly more fluid. This is good news for developers like Bizzi. According to Bizzi, Pritzker Prize-winning architect Renzo Piano also encouraged him to make the purchase. Piano may have been a bit biased, perhaps, as he was working on the nearby Whitney Museum of American Art at the time, but the recommendation was sound.
So, with the encouragement of his colleagues, and the promise of stunning river views, Bizzi took the plunge—and took Piano along for the ride. Though it is his first residential project in the city, he seems like a promising fit for Bizzi and 565 Broome Soho.
“Renzo’s philosophy is all about light, openness and transparency,” Mr. Bizzi said. “And that works well for this location because of the great views of the Hudson River.”
And what a location it will be.
565 Broome SoHo will be constructed of high transparency glass and feature curved, beam-free corners—all the better to enjoy those river views. Floor plan-wise, it will have everything from studios to floor-through four bedrooms, comprising a total of 115 units, including two penthouses and all the bells and whistles you’d expect. High-end finishes like Calacatta Caldia marble bathrooms, white oak cabinets and Basaltina countertops will be found throughout, while building amenities will include “a lounge with a wet bar, a fitness center, a 55-foot saltwater pool and a terrace.” And, for residents who don’t like to share, there’s good news: 565 Broome SoHo will have six duplexes, including the two penthouses, and each of these units will have its very own private saltwater pool.
With all those features, and Piano’s architectural celebrity, the unit prices range from just south of $1 million to upwards of $20 million—but Susan M. De França, chief executive of Douglas Elliman Development Marketing, isn’t worried.
“I’ve been selling real estate a long time,” says De França. “…and I truly believe this property will be one of the top.”
AGORAFYAvocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer. #AvocadoToast #Millennials https://goo.gl/TBCPnv
AGORAFYFive years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom. #Development #Rockaways https://goo.gl/BRKRrD
AGORAFYIt turns out, renters can’t get enough of good ol’ no-doorman-no-frills apartments. Too bad developers aren’t building any. #Doorman #LuxuryRentals https://goo.gl/pdnbo6