Construction Update: 5 Beekman

5 Beekman Street5 Beekman Street

Construction is making rapid headway at 5 Beekman, and the project’s residential component is now rising above Nassau Street. The site’s developer is GFI, and the architect of record is Gerner, Kronick + Valcarcel.

5 Beekman Street

5 Beekman’s residential expansion

Shrouding along much of the Temple Court Building has been removed, revealing an exterior in the midst of refurbishment; the hotel will have 287 rooms, while the new residential tower will total 68 units, spanning 47 floors.

5 Beekman Street

5 Beekman Street, shrouding has been removed from part of the old Temple Court Building

Despite construction’s progression above street level, on-site renderings are nowhere to be found, though zoning diagrams filed with the DOB give inklings regarding the tower’s form. The slender, 621′ skyscraper will apparently have rooftop ornamentation, complementing its historic counterpart, which was completed in 1883. Parapets could push 5 Beekman’s pinnacle to the 700′ mark, and the structure will leave a definite mark on the local skyline, though the 870-foot 8 Spruce Street will continue to dominate the vicinity.

5 Beekman Street

5 Beekman, The Lara at left

Fencing and scaffolding covering an adjacent alley have yielded a large transient population, though the situation is likely temporary. 5 Beekman’s completion will further improve the neighborhood, revitalizing an empty old building, and breathing life into a relatively neglected corner of the Financial District.

Scary alley next to 5 Beekman

Scary alley next to 5 Beekman

Momentum in the immediate vicinity seems to be increasing, and across the street, another tower will soon rise at 1 Beekman. The surge in new construction began with 8 Spruce and continued with The Lara, which is immediately adjacent to the future 5 Beekman’s residential component, which is actually rising at 115 Nassau Street.

5 Beekman Street

5 Beekman, residential tower

Completion is likely by 2016, with the hotel component set for a 2015 opening date.

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