Source: Court St Office Building to be Converted
A trusted tipster wrote in to let us know that the offices at 76 Court Street, at Livingston, will be converted for residential use. According to what we’ve heard, the building’s owners lost a large tenant, who moved elsewhere on Court. The guess is that the property was residential before, and now will pull in…
A trusted tipster wrote in to let us know that the offices at 76 Court Street, at Livingston, will be converted for residential use. According to what we’ve heard, the building’s owners lost a large tenant, who moved elsewhere on Court. The guess is that the property was residential before, and now will pull in quite a bit more money going back. (DOB records from the middle of the 20th century show it had at least one residential unit.) Meanwhile, Property Shark pegs the building at 21,905 square feet and says it was built in 1900. GMAP DOB
Since we live near this building, I see it all the time. Believe me, Bkhab, the neighborhood has changed a lot. As for the history of this particular building, I think it is older and more significant that some of you have guessed. Here is an image of the historic placard on the Livingston St. side of the building:
http://www.jkosterarch.com/images/76_court_plac.jpg
It indicates that this building was “in 1878 the first free public secondary school in NYC.” I’ve always been surprised that the building doesn’t get more attention given that history. I hope they use this an opportunity to do something nice with it.
T Mobile pays a fortune for that spot… owners are totally incommumicado with all but one broker…. have no clue resi is highest and best
Martis, +1.
Does anyone know if the conversion of this building will include any major exterior additions (e.g., an extension)?
goddam empire bail bonds has their shitty window ads in three buildings now all on that same block. do they just jump from one office to the next? they suck.
goddam empire bail bonds has their shitty window ads in three buildings now all on that same block. do they just jump from one office to the next? they suck.
Smokin’ suggestion Pete!
And with only approx. 4000 of air rights it isn’t likely they’ll be able to justify adding 1 floor – given the expense and difficulty based on the location.
I am not sure they’ll get more rent for residential use considering office rents there are around $28psf plus expenses. Residential rents there are close on a PSF basis but you can’t collect expenses from the residents on a NNN basis. Add to this the cost of converting the building back to residential use with highish end finishes…
If it is going condo it might be worth more as a residential building but totally depends on the amount of $$ it will take to bring it back to residential use.
Will be interesting to see what happens here.