(Reuters) - The Woolworth Building, a 1913 Gothic masterpiece in
downtown Manhattan, was set for conversion to luxury
condominiums, but the price of commercial office space has
risen so much that the owners changed course.
Instead of becoming one of the coolest places to live in
New York City, the building will house luxury office space. In
a city where people pay $500,000 for a studio apartment, the
owners -- led by the developers Steven Witkoff and Ruben Schron
-- scrapped a 7-year-old residential plan in May in favor of
the commercial project.
Read more at Reuters.com Bonds News
downtown Manhattan, was set for conversion to luxury
condominiums, but the price of commercial office space has
risen so much that the owners changed course.
Instead of becoming one of the coolest places to live in
New York City, the building will house luxury office space. In
a city where people pay $500,000 for a studio apartment, the
owners -- led by the developers Steven Witkoff and Ruben Schron
-- scrapped a 7-year-old residential plan in May in favor of
the commercial project.
Read more at Reuters.com Bonds News
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