YIMBY recently revealed the latest images for 125 Greenwich Street, which has continued to see minor modifications to its design. Though the tower’s foundation work has been completed for about two years, the site has sat fallow while searching for financing. The refreshed renderings came with recent news that the project secured a $450 million construction loan, and now, with financing secured and the plans for the building finalized, rebar is finally rising.
125 Greenwich Street
Downtown’s condominium boom has so far resulted in several near-supertall towers, with 56 Leonard and 30 Park Place both topping-out in the past few years. Further south, 45 Broad Street promises to become the Financial District’s first legitimate residential supertall, while plans at 125 Greenwich Street have also been advancing. The latter site had previously been anticipated to rise almost 1,400 feet, but after the departure of Michael Shvo from the development team, plans have taken several major turns. Now, Bizzi & Partners has released renderings and filed plans revealing the final design, which will top out 912 feet above the streets below.
Less than two weeks ago, the foundation was completed for a new mixed-use tower in the Financial District. Now, new renderings are out for the building going up at 125 Greenwich Street, thanks to the eagle-eyed contributors on the YIMBY Forums, and they would appear to confirm a final height exceeding 1,000 feet, given the tower will stand taller than the nearby 977-foot-tall 4 World Trade Center at 150 Greenwich Street.
Foundation work is now complete at 125 Greenwich Street, in the Financial District, the site of a planned 88-story, 273-unit mixed-use tower being developed by SHVO (headed by Michael Shvo), New Valley, and Bizzi & Partners Development. The concrete pit is now ready to make way for the tower portion, as seen in a photo by ILNY that was posted to the YIMBY Forums. The exact dimensions of building are not known, as the permits at the Buildings Department have yet to be amended, but we know it will rise 898 feet above street level (per Curbed NY) and will encompass roughly 450,000 square feet. There will be 20,000 square feet of retail space in its base and 16,000 square feet of residential amenities, including multiple terraces throughout the tower. The residential units will also be condominiums, ranging from studios to a triplex penthouse. Rafael Viñoly Architects is behind the design. Earlier this year, the developers were in the process of securing financing through various sources. Completion is expected in 2018.
In January of 2016, filings were submitted to the Attorney General’s office for a 91-story, 275-unit luxury residential tower with retail space at 125 Greenwich Street, in the Financial District. Since then, foundation work has been underway and its developers – Michael Shvo, Vector Group, New Valley, and Bizzi & Parters Development – have been in talks to secure a roughly $500 million construction loan. Now, the New York Post reports $175 million in financing has been raised through the EB-5 program. New details also reveal the highest occupied floor will stand 990 feet above street level, although a crown will push the pinnacle of the supertall tower to a yet-to-be-determined height. Condominiums are expected to range from studios to a triplex penthouse. Rafael Viñoly Architects is the design architect. Completion is expected in 2018.