Back in August, YIMBY brought you news that Madison Equities was in contract for the development site at 45 Broad Street, in the Financial District, and now the developer has closed on the property for $86 million. Madison Equities is partnering with Pizzarotti-IBC to build a 65-story condominium tower, potentially totaling 290,000 square feet. AMS Acquisitions is also a minority investor, and Cetra/Ruddy is designing the project. Completion of the tower is tentatively scheduled by 2019.
The flatiron-shaped facade at 10 Sullivan Street in Soho has most of its hand-laid Norman bricks and curved glass, and workers are busily installing bathroom tile and gas fireplaces. The building will eventually top out at 16 stories and hold 22 condos on a triangular lot wedged between Sullivan Street, 6th Avenue, Spring, and Broome Streets.
Early last month, the residential conversion of the 24-story commercial building at 212 Fifth Avenue, in NoMad, was underway, and now Curbed has uncovered new exterior and interior renderings of the project. Forty-eight condominiums are being carved out of the existing structure, and the units will be large, with some measuring 1,500 square feet, and larger configurations measuring north of 4,000 square feet. Madison Equities and Thor Equities are developing, while Helpern Architects is designing. Sales have already launched, and completion is expected next spring.
Earlier this spring, YIMBY reported on the approval of the planned residential conversion of the 24-story 212 Fifth Avenue, in NoMad, and now the project is underway, according to The New York Times. Madison Equities, Thor Equities, and Building and Land Technology are developing, and 48 condominiums are being carved out of the structure, ranging from two to four bedrooms apiece. Helpern Architects is designing, and a spring 2016 delivery date is anticipated.
In January of 2014, YIMBY brought you news that 45 Broad Street, in the Financial District, was placed on the market. Now the property is in contract, and Madison Equities, partnering with AMS Acquisitions, is the buyer. The price — expected to be north of $100 million — has not been disclosed. The site has 265,000 square feet of development rights, and a 62-story Nobu Hotel was planned prior to the 2008 financial crisis.