Phoenix House just sold their building (in 1Q16) located on the South Side of West 74th Street between Amsterdam and Columbus Avenues at 164 West 74th Street for $26,800,000 or $697.26 price per square foot to Greystone Development and Prime Rok Realty. The developers plan is to convert the 38,436 square foot landmark building into luxury condominiums. The property has no additional air rights as it is overbuilt by 3.52 times its floor area ratio. Hence, the height of the building will remain the same.
Architect Barry Rice has been tapped to design the Beaux Arts style buildings interior as the facade will remain intact. You can see some of the architects incredible work on his site here: http://barryricearchitects.com/index.php
Although permits have yet to be filed, “The Real Deal” reported that 14 to 18 units are planned ranging from 1,000 to 2,850 square feet. An additional penthouse may be added with the Landmark Preservation Committees approval. Prices are said to start at $2,300 per square foot. Anticipated completion of the project is by 2018.
Alex S. Isak
Director of Sales | Upper West Side
Goldenwood Property Advisors, Inc.