In January 2013, New Valley Realty partnered with Ian Schrager Company, Witkoff Group, and Ares Real Estate to purchase 156-162 Leroy Street and the adjacent corner parcel at 357-363 West Street. The site is located in the prestigious West Village neighborhood of Manhattan, just steps away from Hudson River Park.
The close proximity to the park adds priceless value that is hard to find in New York, also allowing for spectacular Hudson River views. This location is home to celebrities and fashion luminaries as well as families and young singles wishing to lead a fairly low-key life behind elegant brick facades. The area boasts wonderful restaurants and shops, and is just blocks away from the hip Meatpacking District.
The partnership plans to build a 12-story luxury condominium building, with approximately 88 units. They have retained award winning architect firm Herzog and de Meuron to design the property. Along West Street, the sidewalk will be widened and the ground floor will feature extensive plantings and landscape design. A column of terraces will run up the building's eastern edge along Leroy Street. This development will fill the demand for an ultra-luxury, well laid out, modern condominium in an old and historic neighborhood.
Gross SF: 191,000
Concepts by: Ian Schrager
Architect: Herzog and de Meuron
Landscape Design: Madison Cox