Residential coversion continues in Tribeca.

A former commercial retail office building on the site of the historic New York Mirror newspaper at 25 Ann Street is being converted into residential condominium lofts in a neighborhood that is emerging in residential conversion. Known as the Tribeca Annex, this area is now beginning to show signs of the same change that has come to other historic downtown districts of the City such as SoHo and Tribeca. The Halstead Property Company is the exclusive marketing agent for the property.

The ten-story building, named The Edgar House, is currently undergoing a complete makeover, being transformed into eight living units of 2,300 square feet and a duplex penthouse of 2,800 square feet. Each unit has 10 to 13-foot ceilings, abundant natural light, most offering views of the East River and in close proximity to the Financial Center. The architect for the renovation is Gary Shoemaker.

Prices for the condominium lofts will range from $850K to $975K, with the penthouse selling for around $2 million.

"We've kept what was historic and charming of the loft building, and added the kind of modern amenities that condo buyers expect today," said Howard Chezar, who along with Ben Alkemade is a principal of Milas LLC, the developers of the property. "It's the kind of loft building that cannot found in neighborhoods like SoHo, which saw the majority of their conversions happen in the 1980's. We think The Edgar House is a great opportunity for buyers who aren't hidebound by traditional luxury neighborhood boundaries."

Chezar and Alkemade are putting more than $2 million into the renovation, gut rehabbing the lobby and all upper floors. While the basement and first floor have been designated for retail use, the upper floors have each been made into full floor living units. Two of the floors have been built out as two-bedroom, two-bath lofts, and six floors have been left as open loft space. Purchasers can work with the developer to design their own plan or purchase as is. The duplex penthouse has also been built with unique detailing and provides the owners with over 1,100 square feet of spectacular private outdoor space.

In addition to the many early 20th century details refinished by the developers, The Edgar House offers luxurious bathrooms and gourmet kitchens, polished concrete floors and industrial steel doors, private key entrance to and from the elevator and a state-of-the-art security system.

"When these units are gone, this kind of living space may be available 'nevermore'," said Joyce Spiegel of The Halstead Property Company. "These are great units, at a price unavailable in other loft areas of Manhattan. We think they're a terrific way to obtain loft space in an up-and-coming neighborhood."

While the New York Mirror building itself was torn down in the 1920's to make way for the current loft structure, it's spirit lives on in the name of the new condo loft, obviously named for one of the Mirror's most famous scribblers, Edgar Allan Poe, who honed his craft at the site in the 1840's.