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NEW YORK CITY-Developer Stanley Perelman of JANI Real Estate is developing One York Street, the block-long pre-Civil War building in Tribeca. It is being gutted and transformed into a 14-story glass tower located just south of Canal Street and bounded by Laight and York streets, St John's Lane and the Avenue of the Americas. Designed by Enrique Norten, it will contain 40 loft units, 25 of them located within the original structure. Floors seven through 14 will have wraparound terraces or expansive balconies.

"One York Street preserves history while implementing the modern architecture of our time. We were able to retain the best of 19th century architecture, while adding some of today's finest details, finishes and amenities," Perelman says. Residences will range in size from 850 sf to 3,160 sf and are priced from $1 million to $15 million. The building, which is scheduled for occupancy in late 2006, will also house 9,000 sf of retail space and 14,000 sf of available office space.

In a separate deal, Lighthouse Real Estate Ventures has received a use variance permitting residential development of 350 West Broadway in Soho. The existing three-story building, located between Broome and Grand streets, has been vacant since its construction in 1987.