On some nights, you may find Justin Timberlake, Jennifer Lawrence, Harry Styles and Jake Gyllenhaal all in the same place —and it’s not on the red carpet for an awards show or at a movie premiere. All of them, and at least half-a-dozen other celebrities, are now neighbors, having purchased condos in a converted warehouse in the high-end downtown Manhattan neighborhood of Tribeca.
The building has become the “it” property of the moment, according to Jonathan Miller, president and CEO of Miller Samuel, a real estate appraisal and consulting firm. He pointed to a combination of the building’s high-end amenities and its proximity to the West Side Highway, which runs along the Hudson River, as partly responsible for the the development’s celebrity success. And, of course, the slew of celebrities buying units in the building has also garnered attention — especially within the last six months.
“When you start reading about the recent purchases with more than a couple of household names, the attention that the building attracts accelerates,” said Miller, whose company provides consulting for residential properties throughout New York City, though he is not involved with any sales connected to this building.
While not a high-rise like some luxury buildings in Manhattan, the property has a host of other amenities: multiple in-unit wet bars, a fully equipped gym, a 75-foot indoor pool and a lush rooftop. The building places a strong emphasis on privacy, with a garage that makes it possible for residents to come and go from the building without being seen, elevators that open directly to each unit and a private courtyard.
Those behind the development would not disclose specific details to MONEY about the A-list tenants — like who is next-door neighbors with who. But Trulia, an online real estate company, confirmed that celebrities Meg Ryan, Justin Timberlake, Jessica Biel, Harry Styles, Rebel Wilson Jake Gyllenhaal and Jennifer Lawrence have all bought apartments in the building. And aside from the noteworthy celebrity tenants, the building has also attracted wealthy tech, fashion and finance professionals, leasing agents responsible for the building told MONEY.
The units offered in the building range from $9 million to $58 million — a sizable premium on the average $2 million cost for a Manhattan apartment. The 53 condos in the building — eight of which are penthouses — also range in size from about 3,000 to 9,000 square feet. While each unit is different, the building’s style does have some uniformity. Every apartment has white oak floors and 150-year-old Carolina yellow pine beams that are original to the building’s construction — a type of wood that isn’t available because the trees were completely deforested in the 19th century.
But luxury apartments are hardly new to Tribeca, so what could attract such high-profile tenants to this building, in particular? MONEY took a tour of the property with Richard Cantor, principal at Cantor-Pecorella, the real estate agency responsible for the building, and Mitchell Wasser, director of residential leasing at Metro Loft Management. Here’s what we found.
How a manufacturing building became the home of the rich and famous
Long before it was home to A-list celebrities, the seven-story building, constructed in the 1880s, was filled with various businesses including a glass company, a wool manufacturing company, a drug company and a bookbinding firm.
Fast forward 130 years to 2012, when Metro Loft Management bought the building and saw a different vision for it — luxurious condos and penthouses fit for some of the world’s richest and most private people, nestled in the heart of one of the most desired neighborhoods of New York City.
The renovated building is now filled with a number of other amenities for its tenants.
There is a 75-foot lap pool (which is still undergoing renovations), a fully equipped gym, a yoga studio and a spa. The fitness area also comes with a locker room and a children’s play room, which is decorated with fake grass and colorful patterns.
Since many of the buyers, including Jessica Biel and Justin Timberlake, have children, the building will also offer children’s swim lessons, Cantor said.
Like most high-end apartment buildings, this one also has a fully staffed lobby, which leads to the private elevators and courtyard, as well as a 24-hour concierge.
The building also has a central wine cellar — just in case the 77-bottle wine storage offered in each apartment isn’t enough for some buyers.
Additionally, tenants share an expansive rooftop with views of the Hudson River.
The most important amenity? Privacy
The importance of privacy was on the developers’ minds when they were making key decisions for the condos. Since the area is already a celebrity magnet — stars like Taylor Swift and David Letterman help make it a neighborhood where the average apartment sells for $3.8 million, according to Trulia — Cantor said they knew what kind of buyers would eventually call the place home.
“This area, Tribeca, has been a mecca for creative celebrities,” Cantor said. “We kind of know that this building so big and so special, we thought we might get them.”
Upon entering the lobby, visitors are greeted by a set of large glass doors that open up to a private courtyard dotted with plants indigenous to New York.
Miller, Cantor and Wasser agreed that one of the most attractive amenities to celebrities was the garage. In fact, it was so important to the celebrity buyers that some did not close their deal with the property until the underground entrance was complete, Cantor said.
The underground garage, which has a pair of gates to ensure maximum privacy, is designed so that those living in the building don’t have to worry about being spotted on the street when they are returning to or exiting from the building.
This level of privacy, Miller said, is what sets this property apart from other luxury buildings in Manhattan.
The extras: wet bars, heated towel racks and more
Each condo and penthouse was specifically designed to feel like a custom home. Private elevators lead up to each of the buildings condos, increasing the anonymity touted by the building’s designers and realtors.
The condos have 18-inch thick walls surrounding the exterior of the building, eliminating much of the noise pollution from the busy streets below.
The kitchens, designed by interior design firm CetraRuddy and built by cabinet maker Christopher Peacock, include a number of high-end features, like sub-zero fridges, coffee makers, expansive stoves, custom islands with Calacatta marble, two dishwashers and 77-bottle wine storage in each unit.
The bathrooms, covered in marble, also include heated towel racks and walk-in showers, as well as separate bath tubs. The bedrooms have windows facing the private courtyard, a design choice meant to increase privacy and decrease noise.
Who needs 1 penthouse when you can have 8?
With a luxurious building comes even more luxurious offerings for those who are willing to pay for them.
The building has eight penthouses — all of which are occupied except one, which is still on the market for $55 million, Cantor and Wasser said. The penthouses come with more amenities and larger spaces than the other condos, which are about 3,000 square feet, including private rooftops, higher ceilings, and, in some cases, three wet bars (one of which is located in the master suite).
The two most expensive penthouses have pools located in a private rooftop area.
While the building’s developers wouldn’t reveal which celebrities live in which apartments, Timberlake and Biel purchased one of the penthouses for $20.1 million, according to Curbed.
A lengthy list of celebrity tenants
According to Trulia, the following high-profile celebrities have purchased units in the building:
- Justin Timberlake and Jessica Biel bought a penthouse in the building for $20.2 million — about $7 million below the asking price. The couple’s condo includes four bedrooms and six bathrooms.
- Harry Styles purchased a 2,868-square-foot, three-bedroom apartment for $8.71 million.
- Known for her home décor, Meg Ryan purchased a $9.4 million condo with three bedrooms and three-and-a-half bathrooms. The space is 3,155 square feet.
- Jake Gyllenhaal spent $8.63 million on a three-bedroom, three-and-a-half bathroom apartment in the building. Like Styles’s apartment, Gyllenhaal’s is 2,868 square feet.
- Jennifer Lawrence has a $9 million apartment that she is currently renting out for $27,500 a month. Her 3,184-square-foot space has three bedrooms and three-and-a-half bathrooms.
- Rebel Wilson has a two-bedroom apartment in the building that she bought for $2.95 million — less than the original $4.5 million listing price.
- Blake Lively and Ryan Reynolds also bought an apartment in the building, but the details of their purchase have not yet been disclosed, according to City Realty.