Renderings courtesy of Copyright Archpartners 2008

To celebrate the 10th anniversary of his famous Mobius House in the Netherlands, construction has broken ground on Ben van Berkel’s first major American project.  To our delight, it’s a 20-story ultra-luxury condominium located on Franklin Place in Tribeca.  From an architectural standpoint, it’s among the more daring projects we’ve covered this year.  According to the press release, the building will be wrapped in an ‘optically dazzling’ ‘constantly shifting’ pattern of horizontal black metal bands sewn onto its form the way decorative seams and pleats are sewn onto luxurious couture garments.  The detailed metal facade is also a tribute to the cast iron architecture which has been popular in Tribeca building design since the 19th century.  David Kislin and Leo Tsimmer of Sleepy Hudson, LLC are developing this project.  The team recently completed another new construction condominium, the High Line 519.

Renderings from the facade studies for this project

Units & Pricing

The finished project will consist of 55 condominium residences ranging in size from 1,200 to 3,400 feet with various 1-4 bedroom layouts and three incredible penthouses featuring interior elevators and rooftop terraces.  Prices will range from $2M – $16M.  According to the Corcoran website, there are still plenty of units available for sale.

Monthly carrying charges average about $1/foot and taxes are very low due to the 421a abatement program.

Interiors

Berkel & UNStudio have collaborated with one of Europe’s leading design firms, B&B Italia to ensure the proper administration of these luxurious and highly customized architectural plans.  First, ceiling heights are generous throughout.  The lower levels have ceilings heights ranging from 9-10′ with great rooms that feature double-height 20′ ceilings.  The floors are thick white hardwood oak.  All units have Bosch washer & dryer.

Kitchens feature UNStudio-designed thermoformed Corian signature kitchen island and countertop.  The fridges are Gaggenau or Sub-Z with bottom freezer.  The gas cook top and hood are Gaggenau as well, and the ovens are Miele.  You’ll also find a spacious Sub-Z wine cooler, Franke Planar stainless steel sink, polished chrome faucets, concealed microwaves, and a garbage disposal.

Bathrooms are equally luxurious with custom surfaces which seamlessly define the vanity, bath surround and integrates seating carved from Zimbabwe Black Granite including integrated sinks, Gessi chrome faucets and Corian pulls.  The tub is Flush Kos Geo Soft with optional chromo therapy.

Amenities

The building will have a 24-hour doorman/concierge who will also function as a valet parking attendant.  Residents will also find a gym and spa facility complete with a double-height weight room, a wet spa with mosaic tiled steam pavillion and sauna, and a multi-purpose room for stretching, yoga, pilates, etc.

Location

Franklin Place is a narrow, cobblestone lane in Tribeca.  For those who aren’t familiar, Tribeca stands for ‘Triangle Below Canal.’  The neighborhood runs from Canal to Chambers street and from the Hudson river over to Broadway.  You’ll find more in the way of loft spaces and unique residences than you will high-rise apartment buildings in Tribeca.  There are plenty of good restaurants and high-end retail in this part of town.

Investment Potential

We really like this project.  The architecture is extremely unique and the finishes are some of the best we’ve seen.  Units prices average about $2,000/foot which is expensive for new construction but fitting for a project like this.  There are several expensive new condos rising in Tribeca right now which could pose competitive pressure.  Hopefully the luxury end of the condo market stays strong long enough for these units to sell out.  We give the project an A- and congratulate Berkel on his first American project and extraordinary vision.