The developer of the planned brick and aluminum twin condominium conversion in Tribeca is trying to flip the site before the shovels have even hit the ground. Alvaro Arranz, principal of a major Spanish construction firm, bought the warehouse at 401 Washington Street and its neighboring parking garage for $57 million in 2007. Now, after hiring architect Morris Adjmi to design a mirror image aluminum version of the warehouse on the garage site, and obtaining all of the necessary approvals to carry out the conversion plans, Arranz is hoping a new investor will pony up $65 million to take over and finish the job..
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