A development site at 75–83 Nassau Street in the Financial District has been sold for $53 million, with plans underway for a new mixed-use tower. JLL Capital Markets arranged the transaction on behalf of seller Lexin Capital and negotiated directly with the buyer, a joint venture between Fulltime Management and Montgomery Street Partners. The property is located between Fulton and John Streets.
75–83 Nassau Street spans roughly 275,000 square feet of zoning floor area, with approximately 225,000 square feet designated for residential use. The buyer intends to construct a residential-led tower featuring ground-floor retail and second-floor commercial space.
75-83 Nassau Street, via Google Maps.
Notably, the project site is among the last parcels in Manhattan vested under the 421a tax incentive program. It was assembled over several years, and its zoning flexibility and vested incentives could allow for the construction of around 265 apartment units.
Transit nearby 75–83 Nassau Street includes the Fulton Street transit hub, offering access to the 2, 3, 4, 5, A, C, J, and Z trains.
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Hopefully a tall building there.
Would a 275k sf building on a double lot be that tall? I am guessing 30ish floors tops?
$53 million is a Downtown price
good to see that teardown lot activating trading hands and soon hopefully.
trading hands and activating soon hopefully that is lol.