SoLita Building opens downtown.

The opening of The SoLita Building at 161 Grand St. is the latest evidence of the change in the Downtown cityscape as new residential developments transform emerging neighborhoods.

The SoLita Building, advertised as being "where SoHo meets Little Italy" at Grand and Centre Streets, has been converted from a commercial building into a 10-story luxury condo loft residence.

Prices for the 16 two- and three-bedroom apartments are in the $900,000 range, with occupancy scheduled for late fall, according to Stephanie Ashkenaz, Insignia Douglas Elliman broker and exclusive agent for 161 Grand St.

"This represents a great opportunity to live in a diverse neighborhood undergoing an exciting transformation," she said. "We're offering affordable luxury for today's discerning buyer."

Located at the crosspoint where SoHo meets Little Italy (as the building's acronymic name indicates), above TriBeCa and adjacent to Chinatown, The SoLita Building was previously the Trumbull Building, built at the turn of the century for manufacturers of tools and dies for engravers.

Developers of The SoLita Building are John Lam and Hung Luk. The architect is Peter Poon. Interiors are by Shamir Shah, who is known for his cutting-edge loft designs.

The residences at The SoLita Building range from half-floor, 1,800-square foot lofts with two bedrooms and two and a half baths to full-floor, 3,600-square foot lofts with three bedrooms and two and a half baths. In addition, there are two duplex penthouses, each with private outdoor spaces.

The residences feature state-of-the-art kitchens and designer bathrooms, including powder rooms with unique carved soapstone sinks. The kitchens feature high-end Viking stoves, Subzero refrigerators, Bosch dishwashers and wine coolers, with stone counters and oak cabinets with glass and mosaic tile accents. The lofts, accessed by a keyed elevator, are designed with thermopaned seven-foot Pella wood windows and oak plank floors.

The SoLita Building is surrounded by varied neighborhood restaurants and specialty food shops of Little Italy and Chinatown and the high-fashion shopping and galleries of SoHo, and is within easy walking distance to the Financial District.