Plans are soon becoming a reality for the development of the former Syms complex at 28-42 Trinity Place in the Financial District of New York City, which will be renamed 77 Greenwich Street.
According to The Real Deal, the new condominium will be much less than expected: developers have downsized the building to rise up to 500 feet, which is half of what was projected earlier.
However, the altered plans seem to come as a blessing in disguise for the developer. The New York Post reports:
"Despite other renderings and rumors that proclaimed the project as a super-tall structure of 1,000 feet, it will be just half that height and much less expensive to build, but still have river and harbor views."
"There were a lot of fun rumors," said Matthew Messinger, president and CEO of Trinity Place Holdings. The former Forest City executive, Messinger, is leading the Trinity team that are now in the process of constructing the 285,000 square foot development's ground floor.
The glass condominium will also house a 472-seat grammar school that would occupy the tower's first nine stories. There will 7,000 square feet of retail space on the building's lower levels, in addition to a few amenities: a roof deck, a bike storage, and a pet spa.
While the current plans look for approximately 85 units of condo units, Messinger notes that the number could "bounce around modestly." Not only that, but the tint of the tower's glass walls could also change.
In addition, the building's inclusion of the school makes the lowest residential floors available on the 150-foot mark, in order for each unit to have a water view, said Messinger.
77 Greenwich Street is slated for completion in 2019. The LEED-rated building was designed by architect firm FXFOWLE, while Deborah Berke Partners designed the building's interiors.
