By Al Barbarino
Development company VE Equities has vowed to build the city’s ‘next 15 Central Park West’ on a Tribeca parking lot.
The New York City-based company, which specializes in the development of high-end residential condominiums and rental apartment buildings, just purchased a parking lot at 24 Varick Street (11-13 North Moore Street) in Tribeca for $47.7 million, city records show.
VE Equities will build a 19-unit, “ultra high end” building at the site, said Justin Ehrlich, principal at the firm.
“It’s going to be the pre-eminent building in Tribeca,” Ehrlich said. “This is going to be the 15 Central Park West of Tribeca.”
Developed by Arthur and William Lie Zeckendorf and completed in 2008, 15 Central Park West is considered to be one of the most successful — and expensive — developments to hit the market over the past decade, having housed prominent residents like Sting, Denzel Washington, Bob Costas, and Goldman Sachs CEO Lloyd Blankfein.
The new VE building, scheduled for completion in 18 to 24 months, will include a library, exercise room, and three parking spots, Ehrlich said.
Tribeca has been a company focus, as it has a high caliber school system, easy access to transportation, and an overall high quality of life, he added.
The firm recently completed a nine-story condo building just a few doors down, at One North Moore Street; and a ten-story condo building at 471 Washington Street, also in Tribeca.
“Families just love the quality of life in Tribeca,” Ehrlich said. “There’s beautiful architecture, clean, quaint streets and so much history.”
Other recent VE projects include luxury residential condominiums under construction at nearby 250 Bowery and 290 West Street. Completed projects include 949 Park Ave., the American Express Building at 60 Collister Street, and 53 Warren Street.