Far West Village

By Jonathan Scheff | Special to amNewYork

May 25, 2006

The Far West Village is like a movie set of New York City: warehouses and townhouses, cobblestones and pavement, Mustangs and Schwinns.

When glossy-eyed newcomers arrive to the city, it is neighborhoods like the Far West Village they dream of -- an idyllic loft, Sundays walking the dog along Hudson River Park, and weekend brunches at the neighborhood's trendy, outdoor cafés.

Throughout the 20th century, the neighborhood has passed among working-class hands: seamen, coal and lumber workers, and artists. In 1969, the Far West Village stood on the periphery of the Stonewall rebellion and a Greenwich Village historic district.

Until the mid-'90s, the area remained defined by the meat market. The influx of celebrities and luxury housing has occurred quickly, even by New York standards.

"In '98 Madonna's brother opened a trendy restaurant on 14th Street. The success was short-lived as the restaurant burned to the ground," said David Allouch, a senior associate at the Corcoran Group. "Mark Baker, a famous promoter, opened Lotus around the same time on 14th Street. ... Now it seems that the bulk of New York's nightlife is happening in the Meatpacking District."

Some of the area's history remains in the form of still-operating warehouses, cobblestone streets and early 20th century architecture --protected because of the efforts of residents and community organizations.

Upper-class families have replaced much of the working class, but some rent-controlled and government-subsidized housing remains, such as Westbeth, a housing development for artists near the West Side Highway.

The Buzz

Preservation of the area's unique architecture has been a hot topic for the past three years as the area has rapidly developed. In September 2005, Community Board 2 passed a resolution to support the McMahon Bill, which would delay demolition of buildings 50 years old or greater to allow for inspection by the Landmarks Preservation Commission.

This May 2, the commission granted landmark status to a five-block area in the Far West Village including about 60 buildings.

Andrew Berman, executive director of the Greenwich Village Society for Historic Preservation, said in a statement:

"After 40 years, the city has finally seen the wisdom in stopping the destruction of one of New York's great historic neighborhoods."

Real estate

Barnet Liberman and Win Chamberlain bought the Printing House building in 1975 for $476,000 and invested $12 million into the building.

Now, condos there sell for $1,100 per square foot or more, "which pales compared to the new buildings on Morton Square or the Richard Meier-designed towers on Charles and Perry Streets," said David Allouch of the Corcoran Group.

Other coveted buildings include The Archives on Greenwich Street and Westbeth, the government-subsidized artists' residence.

For a one-bedroom condo, expect to pay $1.5 million on average, around $1,650 per square foot (or $900,000 for a co-op, at approximately $1,000 per square foot). Two-bedroom condos average near $2.5 million, and co-ops $1.5 million. (Note that co-ops show the greatest variance in price.)

For a rental, expect to pay $2,100 and up for a studio or one-bedroom apartment and $4,000 for a two-bedroom. These values represent the lower end, however.

The upper end seems to have no limit.

What's selling