The Gladstone family has a long history of construction in New York, and the family’s current venture, Madison Equities, was founded in the mid-1960’s. Now, Madison is behind what will imminently become the first actual residential supertall below 34th Street in Manhattan, with 45 Broad Street set to rise 1,127 feet to its peak. Last week, Madison Equities’ CEO Robert Gladstone sat down with YIMBY to talk about that project, as well as everything else in the firm’s pipeline for the Five Boroughs.
Construction is well underway for what will eventually become the Financial District’s tallest residential tower, a 64-story supertall at 45 Broad Street. Thanks to a reader providing an overview photograph, we can see that trucks are currently removing debris from the site, and reports indicate that concrete trucks are also moving in and out, indicating that excavation is now in full swing. Drilling for the foundational piers has already started. Pizzarotti LLC is responsible for building and developing the tower, along with Madison Equities and AMS Acquisitions.
YIMBY last reported on 45 Broad Street when workers arrived and barrier installation began back in September. Now, we have a few fresh renderings for the tower, which also depict what the inside of the open-air mechanical floors will look like. The supertall borrows the technique from 432 Park Avenue, and combined with the intricate bronze exterior, the resulting tower could be one of the most attractive additions to the Lower Manhattan skyline in several decades.
While the slate of supertalls entering the city’s development pipeline has been dwindling across most neighborhoods, the trickle of new construction has stayed constant in the densest areas of Midtown and the Financial District. Within the blocks of Lower Manhattan, 45 Broad Street has continued to make progress, and now, workers are arriving on-site for what will become Downtown’s tallest residential tower.
The supertall mixed-use tower planned at 45 Broad Street will shimmer at its apex, over 1,100 feet above the streets of Lower Manhattan. But at ground level, the Financial District project will bring new services to those who won’t even enter the building. On Tuesday, the Landmarks Preservation Commission voted to approve new subway elevators planned on Broad Street.