Woolworth Building can get minor makeover

By: Scott Henson

Joe Anuta reports for Crain’s New York Business.


The Landmarks Preservation Commission gave Alchemy Properties the go-ahead to make over a portion of the Woolworth Building. Photo by Buck Ennis.

Alchemy Properties, which is transforming the upper floors of the landmark tower into luxury condos, received a key city approval to move forward with its conversion plans.

The developer transforming a portion of the Woolworth Building into luxury units announced Thursday it received a key approval from the city to modify the landmarked structure.

The city Landmarks Preservation Commission gave Alchemy Properties the go-ahead to construct two pavilions on the 29th floor and alter portions of the exterior of the property, located at 233 Broadway between Barclay Street and Park Place, as part of its ongoing effort to renovate the top 30 floors of the building, transforming the space into ultra-luxury residential condominiums.

“We have proposed subtle changes for the Woolworth Building, which will help to preserve and restore it to its true New York City landmark form,” said Kenneth Horn, president of Alchemy Properties, in a press statement.

Mr. Horn hopes to begin selling units at the property, dubbed The Woolworth Tower Residences, in mid-2014.

The crown jewel of the project will be a five-story penthouse at the top of the century-old skyscraper. Alchemy will also make additions to the rooftop and replace some windows. It plans to install a new canopy that will hang over a new entrance on Park Place dedicated to residents.

The developer purchased the top portion of the skyscraper for $68 million in August 2012.

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