Search
 

R Squared Develops $45M Loft-Style Residences

NEW YORK CITY-The 55,000-sf project in Manhattan's Tribeca neighborhood is slated for a fall/winter 2008 completion.

By Natalie Dolce | Updated on January 11, 2008

(Read more on the multifamily market.)

NEW YORK CITY-R Squared Real Estate Partners has already begun construction on its 34 Leonard St. development, a cooperative development featuring 16 private loft-style homes with open layouts 10-foot high ceilings and walls of industrial-scale windows, GlobeSt.com has learned. A source close to the development tells GlobeSt.com that the approximate construction cost for the 55,000-sf project is expected to be $45 million.

The 16 residences consist of one-, two- and three-bedroom homes ranging from 1,541 sf to 2,792 sf, as well as a 3,086-sf penthouse residence with a 2,215-sf wrap-around terrace. The source confirms that the sales gallery has just opened as there are already 150 people currently on the priority/waiting list, however there has been no presales as of yet. The homes range from $2 million to $8 million, for the penthouse unit.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.