Tailored for Loft Loving – 111 Fourth Avenue, Manhattan
Who doesn’t love a great conversion of a historical building. Add to that an unbelievable Greenwich Village location just two blocks south of Union Square and we’re glad to say that 111 Fourth Avenue has made our list of “Buildings We Love.”
Built originally as the New York headquarters for the International Tailoring Company (thus the building name), this 13-story loft building stands prominently on the southeast corner of East 12th Street and 4th Avenue. When the building opened in the early 1920s, ITC was the largest manufacturer of custom menswear in the world. One might say that they were way ahead of their time.
Like many conversions of older properties that have been repurposed, this building has some quirky spaces with atypical designs and multi-level living quarters. Ceiling heights throughout the building are north of 13 feet and the huge industrial-style windows add drama to these loft spaces. The 10-foot tall windows bathe the apartments with light and offer forever views in multiple directions from the mid to upper-level floors.
111 Fourth Avenue was converted to co-operative ownership in 1980. Today there are just over 170 apartments, some of which have been combined. When converted, each floor, starting on the second floor, had 15 apartments.
Aside from the historical connection to the International Tailoring Company, the plaque on the front of the building notes two other items of historical significance. The original architect of the property was Starrett & Van Vleck, the same firm that designed the Lord & Taylor and Saks Fifth Avenue flagship stores in Manhattan. The Lord & Taylor store was recently purchased by Amazon from WeWork for $978 million. And for a final six degrees of separation, author Herman Melville, of Moby Dick fame, lived in a townhouse on this site from 1847 to 1850.
The building maintains a full-time doorman and has a resident manager. The key amenity are the two furnished roof decks that offer sweeping views of the city. There are also convenient laundry rooms on each floor.
Over the past 24 months, there have been eleven transactions in the building, all of which were studio and one-bedroom apartments. Studios pretty much fall within the $600,000 to $670,000 range and one bedrooms start just under $900,000. At present apartment 6-DE, a fully renovated corner two-bedroom, two bath residence with unobstructed views of Grace Church is for sale for $2.85 million. The apartment is being represented by Wigder Frota and Maxfield Wiseltier of Halstead. In August 2016, the same apartment sold for $2,473,500, the highest price ever achieved for an apartment at 111 Fourth Avenue.
While the building is in close proximity to multiple schools, the co-op maintains a strict “no student” policy. Dogs are also to stay away.
Should you wish to view more details about 111 Fourth Avenue or peruse through the current list of available apartments, please click here to visit Linecity.com.