Next up in our Turkey Week tour of stalled projects is 45 Broad Street, a 1,115-foot-tall residential skyscraper planned to become the tallest such structure in the Financial District. Designed by CetraRuddy and developed by Madison Equities and Gemdale Properties, the slender tower is most notable for its Art Deco-style appointments and sloped ornamental crown. Pizzarotti was formerly involved in the development of the project. It was announced earlier this year that 45 Broad Street will also have a slight height reduction of 80 feet to meet Federal Aviation Administration guidelines, according to the city’s Department of Buildings.
All previous construction equipment that was once on site has been removed. The only notable remnant of work that is still present is a row of steel rebar as part of the pilings lining the southern perimeter on the narrow plot. They remain inserted and running parallel with multiple pieces of insulation boards lined up against the blank abutting wall, and mostly buried beneath dirt that hasn’t been excavated. The site sits behind a green construction fence and metal gate along Broad Street, where the sidewalk has been cleared of construction barriers and opened to pedestrians again.
Construction on 45 Broad Street initially started in September 2017, but has encountered financial challenges in addition to an oversaturated real estate market. Nonetheless, if the project is eventually built as designed, its elegant combination of sleek bronze and glass panels will make for a bold addition to the Lower Manhattan skyline. With its modern take on classic architectural themes, it would add nicely to the collection of historic Financial District towers including 40 Wall Street, 70 Pine Street, and 20 Exchange Place.
YIMBY will keep an eye out for a revised construction timeline for 45 Broad Street.