The condo consists of 18,000 sf of ground floor retail and 7,000 sf of cellar space within the two towers. After holding the property for 18 years, the sellers wanted to capitalize on the impact two under-construction mixed-use projects will have on the Tribeca retail market. Edward Minskoff is developing a 1.1-million-sfproject at 270 Greenwich Street which includes 170,000 sf of retail space and will house Barnes & Noble and Whole Foods Market. Jack Resnick & Sons is developing a residential condo at 200 Chambers St. The 30-story mixed-used project includes 258 residential condominiums, 14,000 sf of retail, parking and a 27,600-sf community facility. It is expected to be completed in late 2006.

The seller Greenwich|Associates LLC is a partnership whose members were looking to dissolve it. Bruce Sinder, president, and Christopher Owles, managing director, of Sinvin Realty represented the seller. They will continue to act as exclusive retail leasing agents on the property under the new ownership. The buyer was self represented.