The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

An elevator loft building at 449 Washington Street, located between Watts and Debrosses Streets in Manhattan’s TriBeCa neighborhood, was sold in an all cash transaction valued at $6,900,000.

The five-story property is approximately 8,200 square feet and sits on a 25’ x 80’ lot.  The ground floor is configured as a sound stage with two half-baths and a trap door to the basement storage below with a direct line to the audio studios for sound and video recording. The second floor comprises of a conference room, hair and make-up room, server room, full bathroom, TV lounge, kitchenette and DJ platform with catwalk/balcony that overlooks the sound stage. The third floor is the administrative area with a full bathroom and six offices. The fourth floor is the Walters-Storyk designed audio command center. The fifth floor features full-floor residence with two bedrooms and two bathrooms, a washer and dryer, private keyed elevator and an outdoor space with a hot tub. The sale price equates to $840 per square foot.

“In October of last year, City Planning rezoned the surrounding area to C6-2A, giving it full residential use. Shortly after the change, we received multiple bids in the high $6 million range,” said Massey Knakal Partner James P. Nelson who exclusively represented the seller in this transaction with Massey Knakal Director of Sales Nick Petkoff.  Christopher Johnson, formerly of Sinvin, served as an advisor to the seller.

A residential condo converter purchased the property and will convert the building into luxury residential condominiums. Douglas Elliman represented the buyer.

Click here for press release

Neighborhoods: TriBeCa