Tribeca Retail Condo Sells for $14M

NEW YORK CITY-Wiana Realty Corp. has acquired a retail condominium consisting of ground floor and cellar space at Tribeca’s twin-towered Greenwich Court at 275 and 295 Greenwich St. The sale price was $13.75 million.

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.