YIMBY first reported that ODA would be designing a tower at 75 Nassau Street last fall, which was followed by news of a height reduction this past March, via the project’s first permits. And now, we have the full reveal for the tower, which is being developed by Lexin Capital.
The site spans 75-83 Nassau Street, and the building will total approximately 229,000 square feet. The first four floors will feature 39,203 square feet of commercial space, primarily retail, while the remainder will be divided between 197 residences. That translates into an average apartment size of just under 1,000 square feet.
The project is expected to have both condominiums and rentals, with 12-foot ceilings for the condos and 10-foot ceilings for the rentals. Totaling 40 floors and 498 feet, the building won’t make an impact on the Financial District skyline, but it will certainly enjoy local prominence from the immediate surrounding blocks.
The Fulton Street corridor is currently seeing a major bought of construction activity, which should not come as a surprise, given the dramatic infrastructure improvements that are finally almost finished. Around the corner from 75 Nassau, the Fulton Center is now open, and the World Trade Center Transit Hub is not far behind.
In terms of comparisons, 5 Beekman is already under construction just a few blocks to the north. Lightstone is also planning a new 50-story mixed-use tower at 130 William Street, and Carmel Partners is likely thinking of something similarly-sized for Lightstone’s old site at 112-118 Fulton Street, just across the street.
While the designs for 130 William and 118 Fulton have not yet been revealed, 75 Nassau is certainly impressive, and hopefully an indicator that developers are willing to splurge for attractive design despite Fulton Street’s relative “up and coming” status. The building almost looks like a vertically-extruded version of 15 Renwick Street, and the variegated facade is typical of ODA’s recent work in New York City.
Construction is expected to begin next year, and while no formal completion date has been announced, demolition permits for the existing structures were filed at the end of 2014.