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Penthouse at former Pearl Paint site listed for $7.75M

Since closing in 2014, the former site of the art supply store has been converted into a mixed-use building.

More than two years ago downtown New York City lost another one of its iconic stores. Pearl Paint, long known for its well-stocked shelves of reasonably priced art supplies, closed its doors in April 2014.

Before the store even closed its doors, a listing was already up for the large Tribeca space, according to The Observer: “The building delivers over 2,000 SF of air rights*. Due to the sizable floor plates, phenomenal location for retail (Canal) and residential (Lispenard), the building offers a great opportunity for a developer, investor and/or user.”

The Real Deal reported in December 2013 that developer Colonnade Group paid $9.2 million for the13,216-square-foot, five-story building. In addition to ground-floor retail, plans called for four luxury full-floor apartments.

With the project now complete, 42 Lispenard Street is currently trying to sell all of its full-floor lofts, including the 2,500 square-foot penthouse unit.


Price initially at $4.6 million, StreetEasy data shows two of the non-penthouse apartments currently in contract and one still for sale.

The penthouse, currently listed for $7.75 million,is a duplex with a 1,500 square-foot rooftop terrace featuring a summer kitchen and outdoor shower. There is also a 160-square-foot glass ceiling.

With three bedrooms and three-and-a-half bathrooms, the apartment has its own private elevator, gas fireplace and imported wide plank oak floors.

The kitchen boasts Calacatta Gold countertops, while the master bedroom suite boasts an has a walk-in closet/dressing room and Calacatta Gold Marble bathroom with radiant heat floors, free-standing "egg" bathtub and a walk-in rain shower. Upstairs, a home office, features a skylight and full bathroom. The building also offers a virtual doorman and climate-controlled storage units.

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