20 Pine The Collection Hosts Lower Manhattan Historical Presentation

Nearly 50 members of the Foreign Press Association recently turned out for a presentation about the history of Lower Manhattan hosted by New York City historian and architectural expert Tony Robins. The event was held at 20 Pine The Collection, a luxury-condominium conversion of the former Morgan Guaranty Trust building (later Chase Manhattan Bank’s headquarters) – itself a landmark.

Members who attended the event represented publications from as far away as Nigeria, Japan, Israel, Uruguay, Germany and Poland – to name a few. Many chose to attend the event as a way of enhancing their own historical knowledge and to provide the basis for future stories about this nationally significant region.

Chris Gisiger, U.S. editor of the Zurich-based Finanz und Wirtschaft, said one of the highlights of the presentation was a tour through the impressive amenity spaces at 20 Pine, some formerly bank vaults for gold replete with original vault doors weighing 45 tons each.

“It’s exciting to learn about the history and architecture of the Downtown Financial District,” Gisiger said. “Robins really brought the history to life.”

From left to right: New York City historian and architectural expert, Tony Robins with Lori Ordover, Managing Member of the Ordover Group at 20 Pine’s walking tour.

The lecture was held inside what was once a banking office – now an oversized two-bedroom, 1,800-square-foot home with dramatic views of the New York Stock Exchange, and two giant King Tut sculptures jutting from the balcony, priced at $2,415,000. Following the presentation, Robins led the group on a walking tour of some of the great sites and landmarks.

A former member of the New York Landmarks Commission, Robins delivered a visually compelling presentation, with highlights of the neighborhood’s nearly 400-year-old history.

“It’s the oldest part of New York in terms of the where the city was built,” said Robins, speaking about Lower Manhattan. “Downtown started as a Dutch colony and later became the site of the first archeological build and the first skyscrapers, the nation’s first capital and a hub for Internet technology. It’s rich and complex.”

As part of the presentation, Robins spoke about how recent historical events played a role in transforming Lower Manhattan into a thriving and popular residential neighborhood – noting that tax abatements in the 90’s helped encourage residential redevelopment as the prevalence of the Internet began uprooting financial firms from their homes in the Financial District.

Today, half of Wall Street is no longer financial; and the area is teeming with both residents and tourists.

“We are thrilled to have the opportunity to showcase the building and the surrounding neighborhood to members of the foreign press,” said Lori Ordover, managing member of the Ordover Group, a consultant for 20 Pine, noting that 40 percent of the building’s buyers are foreigners. “This neighborhood has such a rich history; we are proud that 20 Pine is an integral part of Lower Manhattan’s past, present and future.”

The Armani/Casa-designed 20 Pine provides luxury living on an unprecedented scale. With 67 unique floor-plan designs, buyers have the ability to choose homes to match their lifestyles.  Units offer nine- to-13-foot beamed ceilings and oversized windows that provide an abundance of space and light. All residences are outfitted with custom-designed kitchens by Bontempi, a premium Italian manufacturer. Kitchens feature a Sub-Zero refrigerator, Fisher & Paykel dishwasher and stainless steel Miele cook top.

20 Pine has 409 homes and 30,000 square feet of amenity spaces that include four lounges, state-of-the-art gym, indoor pool and spa. Other amenities include a golf-simulation room, billiard room and private subway access. Residents on floors 25 and above have access to 24-hour concierge service provided by Quintessentially. The property is over 90 percent sold. Warburg Marketing is the exclusive sales and marketing agent for 20 Pine.

20 Pine The Collection – Best Luxury 1 bedroom in Financial District?

As we embark on a new year at The New York Condo Blog we are planning on giving you, our reader, more posts, more information, more buildings and more access to deals we like throughout the city. Please feel free to send us some ideas on how you think we can pinemake things better for you!

To start off, we’d like to share with you a 1 bedroom at the well known Armani Casa building in the financial district – 20 Pine: The Collection. With much publicity over the years, thanks in large part to the 24-hour sales office and unique marketing plan by Shvo, lengthy delays with construction and legal issues with the developer, Leviev Boymelgreen, 20 Pine is now complete with over 319 of the 408 apartments closed. The average dollar per sq foot is well over $1,000/ft. The amenities at 20 Pine include a roof terrace on the 25th floor, state of the art gym, swimming pool, winter lounge, billiards room, Entourage style golf simulator and a Turkish steam room. While there are only a few 1-bedroom units available from the Sponsor, a quick glance at online listings and a call to the 20 Pine sales office show that there are no apartments priced and/or equipped quite like the apartment listed with Douglas Elliman.

When considering purchasing a resale (this unit closed in September of 2008 at $798k), buyers should consider the following savings:

-   1.825% transfer tax (paid by buyer when purchasing from developer but by Seller during a resale)

-   Window treatments, kitchen island, shower doors and bathroom hardware already installed (Elliman agent prices these items at approximately $20,000)

-   Pre-wired lighting and sound with a Control 4 Home System; in-wall home theater speakers throughout living room, kitchen area and bathroom (Agent prices this at approximately $15,000)

More importantly, while common charges are under $1/sq ft at $877/month, the real estate taxes at 20 Pine are currently $0 thanks to a 421-g tax abatement. (Per the sales office, the taxes are to be fully abated for another 7 ½ years!)

Details and pictures are below, but the apartment apparently comes with over 100 square feet of private storage, an option to be fully furnished as well as the ideal situation for an investor – option to have tenant in place through the end of 2010 with market rent!

Listing information, floorplan and photos are below and feel free to email us at nycondoblog@gmail.com for more information.

1 Bedroom, 1 ½ bath, 949 Sq Ft

$877/month common charges, $0 taxes,

$855,000

WRAP THIS ONE UP AND TAKE YOURSELF HOME TO 20 PINE…DOWNTOWN’S BEST PRICED 1-BD VALUE IN SUPERCHIC ARMANI CASA CONDO!!! Brand New, No Taxes for 8 Years, No Transfer Taxes, Cheapest 1-Bd Available, Soup-To-Nuts “Tricked Out” and Ready to Move-In! With Fabulous SOUTH light and Protected OPEN NY Stock Exchange Views, this STYLISH loft is a STEAL with $90K worth of Custom Design, Lighting, Control 4 Lighting/Sound System, Custom Built Kitchen Island….not to mention the High Ceilings, Ebony Hardwood Floors, Sumptuous Rainforest Shower, Brazilian wood Bath, Sub-Zero/Fisher Paykel/Miele Kitchen Appliances, Asko Washer/Dryer, and the DROP DEAD Amenities of the Swimming Pool,Turkish Hammam and Lounge, Spa Lounge with Massage Rooms, Saunas, Health Club with Lounge, Yoga Studios, Billiards, Golf Simulation, Outdoor Lounge with SunBeds, Library Lounge, all Of Course with 24-Hr Doorman/Concierge. 11 Trains at your Doorstep, 10 Minutes to Whole Foods, 5 min walk to Tribeca, Best Upside and Quality of Life! Come take a look today!!! Unit can be purchased with or without tenant…Great for investors!