The previously condemned Royal Towers property along North Manhattan Ave. has a new owner.
Back 9 Development recently acquired the complex for an undisclosed purchase price and are intending to convert the space into high-end condos. In a Facebook post, Back 9 says the property, which it calls “The Lofts at 1700,” will be available next summer, with sale prices starting at $249,000.
According to the Manhattan Mercury, Back 9 President TJ Vilkanskas says the renovated facility will feature 56 two-bed, two-bath condo units.
Royal Towers was previously owned by Nevada-based TD Invest LLC. It was condemned in March by the Manhattan Fire Department’s Office of Risk Reduction, due to crumbling walkways and deteriorating stairways. Residents were forced to vacate the complex in May.
