Broad Street Development Partners with TPG for Luxury Condo Project
Overview of a Exciting Project
Broad Street Development (BSD), a prominent real estate developer, has made waves in the New York property scene with its recent acquisition of a historic building. This acquisition marks the beginning of an innovative transformation project that will convert the classic structure into boutique luxury residences, reflecting a perfect blend of modern luxury within a storied architectural framework.
Historic Charm Meets Modern Design
The property located at 139 Franklin Street, an 10-story edifice built in 1915, is poised for a much-needed revival. With 13-foot ceilings that allow natural light to flood the interiors, BSD aims to restore this architectural gem while respecting its historical significance. The project intends to create stylish and spacious living spaces that cater to the evolving demands of luxury living.
Collaborative Vision for Success
In partnership with TPG Angelo Gordon, a well-regarded platform specializing in credit and real estate investments, BSD is set to embark on this exciting journey. Raymond Chalmé from BSD emphasized the potential they see in this strategic acquisition as a canvas for exemplary residential design. The partnership looks to replicate the success they have achieved in similar projects across Manhattan.
Raising Standards in Tribeca
Tribeca is known as one of the most desirable neighborhoods in New York City. With every project undertaken in this area, BSD aims to create residences that not only meet contemporary standards of luxury but also harmonize with the rich character and architectural integrity of the neighborhood. Doug Profenius, a Principal at TPG, shared excitement regarding this collaboration, emphasizing their commitment to a tasteful redevelopment.
Broad Street Development's Track Record
Having established a solid reputation over the past two decades, BSD brings a wealth of experience in repositioning real estate assets across various market conditions. Their portfolio includes iconic properties that highlight their versatility and ability to maximize the value of every project. Previous successes include 40 Bleecker Street, 298 Mulberry Street, and 215 Sullivan Street, showcasing their depth in both residential and office properties.
Creating A Luxurious Community
The redevelopment of 139 Franklin Street serves not only as a renovation project but also as the launch of the Broad Street Bespoke brand. With ambitions of delivering residences that straddle the balance of history and modern comfort, BSD intends to respond to the growing market demand for luxurious, ultra-modern living spaces. Daniel Blanco, also from BSD, expressed enthusiasm about the transformational potential of this building, describing it as a 'diamond in the rough.'
About Broad Street Development
Broad Street Development operates with a vision centered on high-quality residential and commercial properties. The firm, led by experienced industry veterans, has established a distinctive approach to investments that emphasize operational excellence and meticulous management.
Contact and Inquiries
For those interested in further details regarding the project or investment opportunities under the BSD umbrella, reaching out through their official channels can provide insightful information. The firm's dedication to creating luxurious and historically relevant communities remains at the forefront of their mission.
Frequently Asked Questions
What is the location of the new property redevelopment?
The redevelopment is taking place at 139 Franklin Street in Tribeca, New York City.
Who is involved in the redevelopment project?
Broad Street Development is partnering with TPG Angelo Gordon for this exciting project.
What type of residences will be offered?
The project will offer boutique luxury condominiums designed to reflect modern living while maintaining historical charm.
What is the history of the building?
The building was constructed in 1915 and features classic brick and terra cotta architecture, highlighting its historical significance.
What is Broad Street Development known for?
Broad Street Development is recognized for its successful track record in repositioning properties in New York City, focusing on high-quality residential and commercial real estate.
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