Next on YIMBY’s Turkey Week update of stalled projects is 125 Greenwich Street, an 88-story residential skyscraper in the Financial District. Designed by Rafael Vinoly and originally developed by Bizzi & Partners, Cindat, New Valley, the Carlton Group, and Shvo, the 912-foot-tall structure has lingered at near-completion since late 2019. The tower was planned to yield 273 condominium units with interiors by March & White and marketing led by Douglas Elliman. Plaza Construction is the general contractor for the property, which is located at the corner of Greenwich and Thames Streets, just downtown from the World Trade Center complex.
125 Greenwich Street. Photo by Michael Young
The skyscraper stands out with its sleek design of curved glass paneling surrounding a concrete core on the northern and southern walls. The curtain wall is largely finished, with only some work at the pinnacle and multi-story podium awaiting completion. The latter section is planned to be enclosed in darker glass and house several loft units. The construction elevator remains attached to the western elevation.
125 Greenwich Street. Photo by Michael Young
125 Greenwich Street. Photo by Michael Young
A couple of black-paneled mechanical levels divide the skyscraper’s massing.
125 Greenwich Street in late 2020. Photo by Michael Young.
At the time of its announcement, 125 Greenwich Street was positioned as a downtown answer to Vinoly‘s 432 Park Avenue, which was then the tallest residential building in the city. However, financial setbacks within the development team coupled with an unexpected market saturation of condominium offerings sent the Financial District project into foreclosure.
125 Greenwich Street in early 2019. Photo by Michael Young
125 Greenwich Street in 2019. Photo by Michael Young
The following photos are from YIMBY’s tour of the property in early 2019, when work was still on track. The upper floors provide panoramic views of the city, including close-range vistas of the World Trade Center to the north. Click here to see the full set of photographs.
One World Trade Center in early 2019. Photo by Michael Young
The Financial District from the top of 125 Greenwich Street in early 2019. Photo by Michael Young
(from left to right) Brooklyn Point, One Clinton Street and 11 Hoyt rising above Downtown Brooklyn. Photo by Michael Young
The Woolworth Building in early 2019. Photo by Michael Young
The Statue of Liberty and the crown of 50 West Street in early 2019. Photo by Michael Young
99 Hudson Hudson Street towering over Jersey City in early 2019. Photo by Michael Young
It’s unclear when 125 Greenwich Street will resume work.
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General knowledge about skyscrapers that there have been tall and taller than low-rise, from figure on progress spread into these photos. Back to 2019 with panoramic views in the city featured World Trade Center complex, symmetrical at divided the tower in two sections but beautiful united: Thanks to Michael Young.
Beautiful photography, as always, but how about some reporting/contact with the developers or owners? Why do this listing of “Turkeys” with no information on why the projects are stalled or when they will resume? What purpose does this serve?
Agree, what is the reason these buildings have stalled for 3-4 years? Structure issues, citations, lawsuits, ran out of funds, bankruptcy?
Joe and Stanley, please click the link in the last paragraph before the closing sentence to answer your questions
Actually the article states why the project is stalled. It says:
“financial setbacks within the development team coupled with an unexpected market saturation of condominium offerings sent the Financial District project into foreclosure”
well yeah except that’s quite obvious. there could still be some reporting here like reaching out to the developers for comment. i mean the elephant in the room is whats going on with this one at the moment. they might not know or want to comment, but you don’t know if you dont even try.
Y’all know this is a pro-development website…? Yes, In My Back Yard…? They’re not gonna air their dirty finance laundry for your inspection/approval!
Exactly! That’s why I hate Stanley’s comment here and some of his others from the past. Like no sh!t Sherlock that developers, architects and contractors are not that stupid to reveal all the reasons for a stalled project
Do you really think developers would want to really share the dirt on why these kinds of projects get stalled? Do you really think they want to tarnish their reputation even further? Maybe YIMBY did reach out in the past few years, but got no request for comment for exact reasons started above and in the comments below.
And FYI, YIMBY has traditionally been doing Turkey Weeks for many years and is known for this. The fact you have the f*cking temerity to make such a rude comment is shameful and disrespectful to everyone here. Do us all a favor and stop commenting; the site was doing well before you started giving your arrogant opinions during LIC week
“No information on why the projects are stalled…?”
Did you not read the article and the others from the past that CLEARLY explained the financial troubles of this project or about the others from this week?!?
The purpose of turkey week is to simply inform the public of projects in New York City that are stalled. Not every building going up with a construction crane signals active work, and not everyone in the world will know that at first glance. If you do, then well done, but think of other people too…
As straightforward as your comment is Jonathan, I don’t think Stanley will accept that logic
Either you’re new here, or you’re just trying to stir up trouble with people who’ve followed Yimby since it began…
Interesting most of these unfinished buildings are downtown or financial district. Is it due to lack of people working or living there?
there are 382,654 residents living in downtown manhattan as of 2010, which is like the size of cleveland. i wouldnt think its less today, but regardless thats hardly nobody.
For sure. Fidi has far more residents than most rural and Midwestern towns
Thanks for featuring these stalled projects, it’s very interesting. To echo comments above, what are the next steps for these massive unfinished projects? Are they salvageable after being exposed for years, and do they pose any safety threat the longer they stand? Are we looking at another Ryugyong Hotel?
Omg another Ryugying Hotel would be a nightmare! Let’s hope these finish and finally get to be occupied and fully realized. I’d love to see this and Seaport Residences done
It’s not a bad design, but the very uneven, discolored poured concrete walls are a total eyesore and diminish the quality look for such an expensive building.
I imagine getting any of these developers to explain why these turkeys are stalled is next to impossible.
I agree; even getting a simple “no comment” from any of these developers is like getting blood out of a stone.
Try telling that to Stubborn Stanley and his comment above trying to talk sh*t
There really should be a way to speed up our courts in NYC so these types of projects don’t sit on hold for years as the foreclosures and other proceedings move at a snails pace.
Maybe there should be money set aside by developers for a possible stalled state of progress so these projects don’t look the way they do
The construction elevators on this one just started moving much more frequently again and there’s been truck activity at the base. Not sure what they are doing.
Construction cycles ending are always fraught with financial overreach and Ch 11 restructurings