A new 75-story residential tower is planned at 92 Fulton Street, and the building is set to be developed by the Mavrix Group. Real Estate Weekly reported that the total cost will be $250 million, with completion of Mavrix’ land assemblage imminent. 92 Fulton Street will have 250,000 square feet of space, which is a dramatic increase from the site’s previous proposal, which would have only been 22,000 square feet.
The firm’s Facebook page has early renderings of the skyscraper; the depicted version looks to be roughly fifty floors, so what’s ultimately built should be far taller. The initial design looks similar to Jeanne Gang’s ‘Aqua‘ in Chicago, though the proportions of Mavrix’ tower are much slighter. Given the luxury market’s propensity for high ceilings, 92 Fulton could conceivably approach the 1,000-foot mark.
Similar towers are underway across the Financial District, with 800’+ projects in the works at 22 Thames, 30 Park Place, and — just to the north — 56 Leonard. A 58-story building is also about to begin construction down the street, at 120 Fulton Street.
Mavrix has a crowdfunding investment page (there is a log-in wall) for 92 Fulton, which has details on pricing; the goal is an average of nearly $1,800/sf, which would actually place the tower below the ‘super-luxury’ segment of the market. An additional document — dated December 4th from ODA, which may be the architect — indicates that 92 Fulton will stand 51 floors.
There is a definite discrepancy between REW’s report and what is actually on-file, but given the trend towards taller towers, the height increase is definitely possible; what’s certain is that Mavrix has significantly upped 92 Fulton’s allowable square footage, and that yet another skyscraper will soon rise in the Financial District.
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