The New York Times profiles 10 Sullivan Street

November 28, 2014

BY: The New York Times | ALISON GREGOR

Montroy Andersen DeMarco is serving as Executive Architect; designed by Tamarkin & co.

An unusual elliptical tower rising along the Avenue of the Americas on SoHo’s western edge has drawn many eyes as the most visible indication of a spate of development transforming the area’s primarily commercial streets into a residential neighborhood.

The tower at 10 Sullivan Street, which will be 16 stories and one of the tallest buildings in SoHo, has a shape like a boat and also vaguely resembles the Flatiron Building, thanks to the configuration of its building lot: a long, thin triangle. The triangle is 360 feet long and 92 feet wide at its base and comes to a point at the southern end. The lot, which was for many years home to a gas station and carwash, was created when the Avenue of the Americas was extended at an angle across gridlike streets in the 1920s.

The building will push the western edge of SoHo onto the avenue and into an area that has few of the high-end shops that SoHo is now known for. It also borders the Hudson Square neighborhood to the west, which has long been a successful commercial area but which is also getting a residential profile.

Other recent residential development in the area includes the 14-story One Vandam, a tower on the Avenue of the Americas with 25 units, and a 12-unit apartment building at 73-75 Sullivan Street, which has started to take shape in recent months.

The developers of 10 Sullivan Street initially contemplated building a more conventional tall tower on the northern end of the lot, near the base of the triangle, and leaving the triangle’s tip at the southern end open for a large garden, said Robert Gladstone, the chief executive of Madison Equities, which is developing the tower along with the Property Markets Group. They also considered building a hotel instead of condominiums.

“Because the site was zoned commercially, we had to do a lot of work on it,” Mr. Gladstone said. “We went to the city’s Board of Standards and Appeals to ask for a residential zoning change, and given the hardship of the site’s shape and remediation and some other factors, we worked on the design to help compel a positive decision.”

Having initially proposed a 229-foot tower, the developers appeased neighborhood residents by shaving off two stories and making it 204 feet, he said. They also moved the tower farther south and gave the building its unusual shape. The building does not come to as sharp a point as the Flatiron Building near Madison Square Park, which is only a few feet across, but it has an elliptical end curved between two columns set 22 feet apart, giving it a sort of prow like that of a boat, Mr. Gladstone said.

“It will be curved concrete, slightly curved brick, the glass will be curved, and the metal windows will be curved,” he said. “It will be a beautiful arch going up 16 floors.”

With an exterior of hand-laid corbeled black and blond Norman bricks and a look reminiscent of SoHo’s industrial buildings, 10 Sullivan was designed by the architect Cary Tamarkin, the founder and president of the Tamarkin Company, working with the architectural firm Montroy Andersen DeMarco. The prow end of the building, which has unimpeded views down the Avenue of the Americas, has large expanses of glass.

The tower, which is currently under construction, will have 21 condominium residences and should be completed in late 2015, Mr. Gladstone said. They will range in price from $2.45 million for one-bedrooms to $45 million for a 8,360-square-foot triplex penthouse with a private pool and rooftop, said Marie-Claire Gladstone, Mr. Gladstone’s wife and a sales agent marketing the apartments with the Corcoran Group. There will be a five-bedroom duplex of more than 5,200 square feet for $25 million, along with full-floor residences of 2,950 square feet ranging from $8.7 million to $10 million, she said. Three-bedroom residences on lower floors will range from $6.517 million to $7.315 million, and two-bedroom homes will range from $4.65 million to $4.75 million, Ms. Gladstone said.

Building amenities will include a 24-hour concierge, keyed elevators, a fitness center and storage spaces. The apartments will have 11-foot ceilings, and finishes will include Danish oak floors, radiant heated flooring and motorized shades. Kitchens will have walnut cabinets with marble countertops and Miele, Viking and Sub-Zero appliances, while bathrooms will be marble with steam shower rooms and free-standing tubs.

Since the condo tower is now on the southern portion of the site, the northern portion is being developed with four 25-foot-wide townhouses, which are not part of the condominium, Mr. Gladstone said. The four-story townhouses, located at 20, 30, 40 and 50 Sullivan Street, will each have four or more bedrooms, a finished basement, a rooftop terrace and a backyard garden, and will start at $20.795 million apiece, Ms. Gladstone said.

There will be a 10-space parking garage — parking spaces will be available for purchase — and 2,600 square feet of retail on the condo tower’s lower floors. While the retail space has not been filled yet, Mr. Gladstone said the developers are looking for a business that wants to create some sort of high-end showroom.

The entire project cost $112 million, and its estimated sellout value is $220 million, Mr. Gladstone said. He said he and his wife plan to live in the condo tower, as does a partner with Property Markets. After the start of a low-key sales effort last summer and a party on Oct. 20, eight of the 21 units have been sold, he said.

“The building will be topped out in December, and we’ll start taking people through, so they can walk the floors and see the views, which are fantastic,” Mr. Gladstone said.

To address a shortage of one- and two-bedroom apartments in Lower Manhattan, the developers converted two four-bedroom apartments into four smaller units, Ms. Gladstone said. Prospective buyers have been a mixture of “young, single guys in finance, some young families, some empty nesters, and we have some foreign buyers as well,” she said. To the west of the building site, Hudson Square has become increasingly residential in recent years.

“The neighborhood, when we moved in, which was 2005, was very sleepy, and nobody knew where you were when you were over there,” said Jeremy V. Stein, an agent with Sotheby’s International Realty, who lives with his wife and business partner, Robin Stein, in Hudson Square. “Now, there’s just so much going on.”

Trinity Real Estate, the property arm of the Episcopal Church that oversees about 5.5 million square feet of office space in Hudson Square, recently announced that, on the heels of a massive rezoning in 2013, it is exploring developing as many as four residential towers in the neighborhood. Trinity will likely move forward initially with a tower at Juan Pablo Duarte Square, in an area bounded by Avenue of the Americas, Canal Street, Varick Street and Grand Street and located just two blocks south of 10 Sullivan.

Mr. Stein said his street, Renwick, which is only a block long and a couple of blocks west of Avenue of the Americas, has seen four large construction projects at one time, three of them residential. The sales office recently opened for 15 Renwick, which will have 31 condos, and the RenwickModern at 22 Renwick, with 17 units, was recently occupied, he said. The Related Companies is developing 261 Hudson, a 12-story building with about 200 apartments, which goes through the block to Renwick.

The residential development continues even farther west, on both sides of Canal Street, where several buildings have been built and occupied recently or are in the works, Mr. Stein said. He said the new projects have gone a long way toward putting the Hudson Square neighborhood, which some also call West SoHo, on the map.

“What it means in the short term is a lot of construction,” Mr. Stein said. “But what we’re looking forward to in the long term is the introduction of more services in the neighborhood: supermarkets and better delis. We already have great restaurants, but it would be nicer to have some more.”