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New development pushes Soho’s residential boundaries

New development pushes Soho’s residential boundaries
10 Sullivan Street

Renderings of 10 Sullivan Street

A new high-end development, boasting a $ 45 million penthouse, is redefining Soho’s residential boundaries.

10 Sullivan Street, a 16-story elliptical tower rising along the Sixth Avenue, is pushing the western edge of Soho into an area that has few of the high-end shops typical of the neighborhood. The area didn’t have much of a residential profile either, according to the New York Times.

“Because the site was zoned commercially, we had to do a lot of work on it,” Robert Gladstone, CEO of Madison Equities, which is developing the tower along with the Property Markets Group, told the Times. “We went to the city’s Board of Standards and Appeals to ask for a residential zoning change, and given the hardship of the site’s shape and remediation and some other factors, we worked on the design to help compel a positive decision.”

When completed in 2015, the tower features 21 residences, ranging in price from $ 2.45 million for a one-bedroom to $ 45 million for a 8,360-square-foot triplex penthouse with a private pool and rooftop. [NYT] Christopher Cameron


The Real Deal New York

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