(Photo Alexander Severin)īy contrast, all of the common spaces, hallways, and amenities within the building invert the formula, using exclusively black and gray surfaces. The ten penthouses of 56 Leonard Street have outer walls entirely of glass as well as terraces to amplify the dialogue with the New York skyline. The bathrooms have custom-designed sinks and bathtubs manufactured by Laufen. Everything within the private space of the apartments follows an all-white color palette, matching the white stained Appalachian white oak floors, white walls, and concrete ceilings covered in Kydex and painted white. The living rooms step back into open-plan kitchens fitted with Herzog & de Meuron custom-designed lighting manufactured by Paris-based Maison Lucien Gau and custom cabinets manufactured by Milan-based Molteni/DADA. The logic of the interiors works backwards from the exceptional views. Framed with a four-sided structurally glazed extruded aluminum curtainwall system specially manufactured by Enclos, the windows extends eight feet from the columns, launching the viewer hundreds of feet above the city. To accentuate the panoramic effect of these privileged views, Herzog & de Meuron partner Ascan Mergenthaler conceived the plan to treat the rooms as blocks of glass, cantilevering them strategically to keep other units out of sight. (Photo Iwan Baan, courtesy Herzog & de Meuron) The composition of the complex, which recalls the forms of the Jenga tower-building game, ensures that each of the 145 apartments is different from the others. In this respect, 56 Leonard Street is completely contextual for the nearby Financial District: it raked in $1.27 billion and repeatedly broke records for its penthouse prices. From an economic point of view, it all has worked out well for Izak Senbahar of Alexico Development Group, who purchased the lot and air rights for $150 million in 2006, and the conglomerate of banks led by Bank of America that loaned him $350 million, which Senbahar said accounted for only 50 to 60 percent of the construction costs. Since New York Law didn’t need the extra built-up area, it sold the bonus square footage to use as capital for its renovation: the extra 200,000 square feet it gained by purchasing air rights was earned by the school by building a public lecture hall. The acquisition of air rights from the neighboring New York Law School in combination with the site’s as-of-right buildable square-footage allows 56 Leonard to stand 20 stories taller than TriBeCa zoning would otherwise allow–real estate gold in Lower Manhattan. The views at 56 Leonard got a boost from an odd piece of New York City zoning known as air rights, traded for the first time as a bankable asset in the 1970s, enabling bankers to sell even the sky. To encourage developers to build new housing, on the other hand, the city grants tax incentives and zoning loopholes that make it more profitable.
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