Nowhere else in New York is the supply/demand equation more out of whack than in the West Village. While no one was looking a prewar apartment house in a prime location has been returned to the precious housing stock - this time as condos. The Rudin family purchased the former St. Vincent's hospital residence building in a side deal separate from the main development planned further west on 12th Street and Seventh Avenue. This building is actually the gem of the existing structures formely owned by the hospital. Rudin has hired Cook + Fox architects to return the residence to its former glory as pre-war apartments - this time just 43 units of one to four bedrooms. Demand for this location almost guarantees the project's success, no matter what the state of the rest of the market. This is a complete, though sensitive, gut renovation we've been watching with interest for some time. The multi-paned windows will be maintained, giving the building a look as good as the day it was built 75 years ago. The preservationists should be pleased. The advocates for afordable housing, not so much. We're predicting a sell-out in 3...2...1...After the jump a larger image.
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