Woolworth Building to sell 27 stories as condos.The Woolworth Building Woolworth Building in New York City; erected by Frank Woolworth in 1913; tallest building until Empire State Building (1930-1931). [Architecture: NCE, 3004] See : Tallness , once dubbed the "Cathedral of Commerce," will soon become a temple of domesticity. The landmark Woolworth Building will consecrate con·se·crate tr.v. con·se·crat·ed, con·se·crat·ing, con·se·crates 1. To declare or set apart as sacred: consecrate a church. 2. Christianity a. its top 27 stories as condominium apartments with -- the crowning glory -- a five-level penthouse constructed within its Gothic spire. The distinguished, 792-foot-tall building was, for a stretch, the tallest skyscraper in the world (1913 to 1929, when it was eclipsed by the Chrysler Building Chrysler Building, in midtown Manhattan, New York City, at Lexington Ave. between 42d and 43d St. The ultimate art deco-style skyscraper, it was commissioned by Walter P. Chrysler, designed by William Van Alen, and built in 1926–30. ). Today, it is considered by many the classiest of the towers. It is also credited as the inspiration for the great skyscrapers that were built in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. after the First World War. The Witkoff Group purchased the building from the Venator Group (formerly Woolworth Corporation) in 1998 for $155 million. This was the first time that the building changed hands in its 85-year lifetime. Now, the Witkoff Group is planning to develop 75 apartments in the narrow upper half of the building, scheduled for completion in two years. Their decision to go residential is in line with the expectations of many in the real estate community. "With the amount of money out there, this isn't surprising what they are doing here," said John Lawrence John Lawrence can refer to:
One-of-a-kind, to say the least, and already causing a stir among prospective buyers. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times, undisclosed "buyers from the worlds of sports, art and entertainment" are interested in the space that may sell for $1,500 a foot. Amy Witkoff could not be reached for comment on the project. The founding director of the Skyscraper Museum, Carol Willis, said she sees nothing unusual about the proposed conversion. "It has been happening all over Manhattan," Willis said. "'But remember that it is still very much under review as of this moment." A spokeswoman from the Landmarks Preservation Commission declined to comment on the proposal since it is, in her words, "under review." The notion that a highest bidder HIGHEST BIDDER, contracts. He who, at an auction, offers the greatest price for the property sold. 2. The highest bidder is entitled to have the article sold at his bid, provided there has been no unfairness on his part. will soon be able to reside in this lofty perch is certainly enough to rile Community Board members and those who still doubt that their revered Manhattan skyline is, in fact, limned in dollar bills. But their arguments may not hold up. "This isn't city hall," says John Lawrence. "A private family owns the building. They can and will do what they want here." |
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