A tipster sent along renderings for 11 Beach Street, which is currently undergoing a major renovation as the structure transitions to rentals; per a recent post on Curbed, the building will have 27 units, with pricing starting at $4.5 million. HFZ Capital is the developer, and Thomas Juul-Hansen is leading the design of the interiors, while BKSK is the architect of record.
Permits indicate that the site’s total scope spans 107,367 square feet, and units will average nearly 4,000 square feet apiece; the building stands ten stories tall, and the renovation and refurbishment will maintain the site’s current size. Given the boutique nature of the project — and the enormous residences — prices are likely to be astronomical.
If the newest rendering is any indicator, 11 Beach Street will be an improvement on its relative predecessor, enhancing the surrounding neighborhood with new residences. As Tribeca has continued to revitalize, its northern side streets have been some of the last arteries to see improvements, and the surrounds of HFZ’s latest project are currently undergoing a mini-renaissance.
Just a few blocks away, developments like 11 North Moore and 56 Leonard are rising; the vicinity is finally advancing beyond its pre-war history, emerging as a vibrant residential node. Despite ultra-high prices, street-front retail has continued to thrive, as allowed density is significantly more generous than the West Village; due to prohibitive zoning and angry NIMBYs, that neighborhood has entered a mummified state, slowly decaying within a sarcophagus of red tape.
Completion of 11 Beach Street is slated for early 2016.
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