‘Library’ Condos Begin Selling on Rivington Street
A former branch of the New York Public Library is born again rich.
The Horizon Group, which acquired the historic Beaux Arts library building at 61 Rivington Street in May 2018 for $8.4 million, is in the final stages of condo conversion. Sales launched yesterday at the new development, known officially as the Library.
At six stories – inclusive of the rooftop protrusion – the Library houses eleven apartments with one to three bedrooms, including two duplexes with private outdoor space and two penthouses.
Unit prices range from $1.25 million to about $2 million.
(Transactions in the Lower East Side are up about 117 percent from a year ago, when Covid was depressing the market, according to the Real Deal.)
Issac Stern Achitects is the designer of record on the $848,000 endeavor. The firm is also behind other familiar Lower East Side developments, including 50 Clinton Street and the Hotel Indigo.
The building itself was erected in 1905 as the Rivington Street branch of the New York Public Library, and designed by McKim, Mead & White. It was funded by industrialist Andrew Carnegie, and considered the first NYPL branch to have a roof designed for open-air reading. Also noteworthy is that the first stock of books came from University Settlement next door (which is still there).