Located in Manhattan’s Tribeca neighborhood, The Fairchild is a 9-story loft building that features 21 unique homes. Though The Fairchild looks just like its well-preserved 19^th century neighbors, the loft building is actually new construction, completed by Karl Fischer Architecture in 2009. Located at 55 Vestry Street, The Fairchild features a traditional red brick façade and oversized arched windows in the exterior; interiors boast 22’ high ceilings, private balconies, and terraces.

The Fairchild was developed by Atlantic Walk Vestry, which includes Gerard Longo. Mr. Longo and his partners also developed the Pearline Soap Factory, which, like The Fairchild, is new construction but mirrors the old look of its neighboring building. Interiors at The Fairchild have been designed by David Howell. The Fairchild features a variety of residential layouts, including townhomes, penthouses and loft units.

Units and Pricing

There are currently five active sales listings at The Fairchild, as well as two active rental listings. There are also sixteen listings currently in contract. The sales listings available are three and four bedroom units, one of which is a penthouse unit clocking in at 2,664 square feet. This unit is listed at $6.95M. Smaller units range from $3.3M to $4.25M and contain around 2000-3000 square feet.

The average price per square foot of the sales units is $1,568 per square foot and previous sales listings averaged about $1,659 per square foot.

Features and Amenities

One of the standout features of all the homes in The Fairchild is the 22’ high ceilings. Elevators open directly into the homes in the building, and the expansive arched windows, coupled with the high ceilings, fill the residences with light. The loft-like layouts, coupled with the walnut stained flooring throughout, give off a feeling that is thoroughly Tribeca, while the modern features, such as Smart Home technology, cater to the lifestyle of the modern New Yorker.

The David Howell designed interiors offer the best of modern technology and finishes. Poggenpohl kitchens boast polished Caesarstone countertops and backsplashes, a 36″ Sub-Zero refrigerator, a built-in Wolf oven and cooktop, Miele dishwasher, and a stainless steel Sub-Zero wine cooler. Lavish master baths feature large travertine tiles, polished Calcutta gold accented floors and fixtures by Toto and Kallista, while secondary baths boast stacked Botticino marble stone accented walls, marble floors and limestone showers.

Amenities at The Fairchild are much like that of a boutique residence. Residents enjoy an attended lobby offering concierge services, refrigerated grocery storage, private outdoor space in the form of balconies and terraces, direct elevator access into each home, and a dedicated storage area.

Location

Tribeca, a small neighborhood situated between the shopping mecca that is Soho and the Financial District/Wall Street area, has become increasingly popular in the past ten years. The Fairchild is located in the Tribeca North Historic District; it’s a short walk to the Hudson River Park. Tribeca has become the neighorhood du jour for young families, and it’s easy to see why. With great public transit options, quaint cobblestoned streets, gourmet restaurants at every corner, and excellent schools, Tribeca is the New Yorker’s dream location.

Investment Potential

As stated above, Tribeca just gets more and more popular with young, wealthy New Yorkers and families. The homes at The Fairchild are also absolutely stunning. A-

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