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Woolworth Building will be morphed into luxury apartments

Woolworth Building will be morphed into luxury apartments

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Historic landmarks around the world getting a pricy makeover are an ordinary piece of news these days, but if it’s about one of the oldest and recognized skyscrapers in the United States, then surely we all look concerned. Yes, we are taking about Woolworth Building that will soon become rich people’s weekend getaway. Witkoff Group and Cammeby’s International have inked a deal with an investment group led by Alchemy Properties to sell the top 30 floors of the iconic tower for $68 million which after receiving a major renovation will become luxury apartments.

The lower 28 floors will be rented out as offices whereas the top two floors will be transformed into luxury condominiums. The landmark that used to be the world’s tallest building back in 1913 measures 792 ft tall. Total 40 luxury apartments including a five-level penthouse in the attic will be constructed. Renovation and construction of apartments that will cost about $150 million (including its $68 million purchase price) will begin at 350 ft above ground level and is scheduled to be completed sometime in 2015.

The cost of apartments however has not yet been set, but once the construction work is completed, they are likely to be sold for about $3,000/square foot. Hence, if you want to enjoy a panoramic view of Midtown Manhattan from your balcony, then make sure you have enough money deposited in your bank accounts to buy one of these luxury apartments that rise 792 feet above ground level.

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Via: NYTimes

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