After the local community board shot down plans for a 30-unit condo at 111 Leroy Street in the West Village in February, Property Markets Group has scaled down the size of their project between Hudson and Greenwich Streets. The developer filed applications yesterday for a 10-story condo building and five townhouses.
The condo part of the complex will only have 12 apartments, not 30, and we don’t know if the development will still have affordable senior housing. The proposal PMG presented earlier this year called for a 79,000-square-foot condo building and a separate, smaller residence with 13 below-market units for LGBT seniors.
The 12-unit building would have full-floor units on the first and second floors, followed by four units on the third floor. The remaining floors would also hold full-floor units, topped by a penthouse duplex on the ninth and tenth floors. Confusingly, the permits for the condos include the square footage for a big warehouse conversion next door. When we subtract out the warehouse, we get the building’s real size: 34,338 square feet.
Plans have also been filed for five single-family homes at 115, 117, 119, and 121 Leroy Street, as well as 621 Greenwich Street. 621 Greenwich would reach three stories into the air, and all of the Leroy Street houses would be four stories and 50 feet tall.
Property Markets Group picked up 111 Leroy and the corner lot at 621 Greenwich for a combined $38,176,272 last year, and then they purchased air rights from a townhouse next door on Morton Street and a 12-story commercial building at 627 Greenwich Street. A different developer owns 627 Greenwich, but the DOB just approved plans to turn the 148-foot-tall structure into 35 apartments.
Developers have had their eyes on 111 Leroy and the Greenwich Street loft building for several years. The city rezoned the block from manufacturing to residential in 2006, after Peter Moore Associates and KMG Properties purchased all three lots for $37.38 million in 2005. But the recession ultimately derailed their plans, and all the properties were sold at a foreclosure auction in 2012.