Downtown

Hotel Indigo Completes Construction at 50 Trinity Place in Financial District, Manhattan

8:00 am on February 19, 2023 By Michael Young

Construction is complete on 50 Trinity Place, a 28-story Hotel Indigo in the Financial District. Designed by Peter Poon Architects and developed by FIT Investment Corporation, the 311-foot-tall structure yields 77,310 square feet and 173 guest rooms. Cauldwell Wingate was the general contractor for the Lower Manhattan project, which is located at the southwest corner of Trinity Place and Rector Street, diagonally across from Trinity Church.

Affordable Housing Lottery Launches for The Suffolk at 55 Suffolk Street on Manhattan’s Lower East Side

7:00 am on February 14, 2023 By Vanessa Londono

The affordable housing lottery has launched for The Suffolk, a 31-story residential building at 55 Suffolk Street on the Lower East Side of Manhattan. Developed by The Gotham Organization and designed by Dattner Architects and JG Neukomm Architecture, the structure yields 378 residences made up of 25 percent permanently affordable and 75 percent market rate units. Available on NYC Housing Connect are 95 units for residents at 40 to 100 percent of the area median income (AMI), ranging in eligible income from $27,738 to $165,500.

Demo Permits Filed for 558 Broome Street in Hudson Square, Manhattan

6:30 am on February 10, 2023 By Vanessa Londono

Demolition permits have been filed for a six-story mixed-use building at 558 Broome Street in Hudson Square, Manhattan. Built in 1925, the 62-foot-tall structure is owned by Vendome Group, which owns various properties in Soho, Tribeca, and Astoria, Queens. Vendome purchased the building for $15.75 million in 2017, which contains 20 residences and ground-floor commercial space that was being used for three restaurants.

Street view of 277 Canal Street - Courtesy of Loopnet

First Proposed Housing Development Following Soho/NoHo Rezoning Revealed for 277 Canal Street in Manhattan

7:30 am on February 8, 2023 By Sebastian Morris

United American Land has revealed plans to construct a new mixed-used property at 277 Canal Street, the first project to be announced following passage of a controversial neighborhood rezoning of more than 55 city blocks across Soho and NoHo. Designed by Morris Adjmi Architects, the proposed building will top out at 13 stories and comprise a mix of market-rate rentals, affordable housing units, and retail on the lower levels. The property is located at the convergence of Soho and Chinatown on the northeast corner of Canal Street and Broadway, and currently houses a bank, a gym, and several small-box retail businesses.

125 Greenwich Street Lands $313 Million to Finish Construction in Manhattan’s Financial District

8:00 am on February 7, 2023 By Michael Young

Fortress Investment Group, Bizzi & Partners, and U.S. Immigration Fund have closed on $313 million in construction financing to complete 125 Greenwich Street, a stalled 88-story residential skyscraper in Manhattan’s Financial District. Designed by Rafael Viñoly Architects, the 912-foot-tall structure is planned to yield 273 condominium units with interiors by March & White and marketing by Douglas Elliman Marketing Development, which is aiming to launch sales this fall. The loan was provided by Northwind Group, a debt fund manager headquartered in New York City. Work will resume with Time Square Construction and Plaza Construction jointly managing contracting duties for the property located at the corner of Greenwich and Thames Streets, just south of the World Trade Center complex and Liberty Park.

Anish Kapoor’s Bean Sculpture Unveiled at 56 Leonard Street in Tribeca, Manhattan

8:00 am on February 5, 2023 By Michael Young

Work is finally finished on Anish Kapoor’s mirrored bean sculpture at the base of 56 Leonard Street, an 831-foot-tall residential skyscraper in Tribeca. The 19-foot-tall, 48-foot-long amorphous artwork was unveiled last week beside the main lobby and ground-floor retail space of the 57-story reinforced concrete tower, which was designed by Herzog & de Meuron and Hill West Architects for Alexico Grpup and opened in 2017. Performance Structures was the fabricator for Kapoor’s 40-ton permanent installation, located at the corner of Leonard and Church Streets.

John A. Paulson Center Completes Construction at 181 Mercer Street in Greenwich Village, Manhattan

7:30 am on January 30, 2023 By Michael Young

Construction is complete on the John A. Paulson Center, a 23-story academic building for New York University at 181 Mercer Street in Greenwich Village. Designed by Davis Brody Bond and KieranTimberlake, the 735,000-square-foot structure is the largest expansion in the history of the campus and consists of three glass-clad towers rising from a podium spanning a full city block. Permasteelisa engineered and manufactured the facade, and Turner Construction Company was the contractor for the $1.2 billion project, which is bound by Bleecker Street to the north, Houston Street to the south, Mercer Street to the east, and I.M. Pei’s University Village complex to the west.

Rendering of the rooftop pool and sundeck at The Suffolk - Courtesy of The Gotham Organization

Amenities Revealed for The Suffolk at 55 Suffolk Street on Manhattan’s Lower East Side

7:30 am on January 25, 2023 By Sebastian Morris

The Gotham Organization has revealed new renderings of the amenity spaces at The Suffolk, a 378-unit residential tower at 55 Suffolk Street on Manhattan’s Lower East Side. Designed by Dattner Architects and JG Neukomm Architecture, the 30-story tower comprises 330,000 square feet and is a major component of the developer’s Broome Street Development.

Affordable Housing Lottery Launches for 282 Grand Street on Manhattan’s Lower East Side

6:30 am on January 25, 2023 By Vanessa Londono

The affordable housing lottery has launched for 282 Grand Street, a seven-story residential building on the Lower East Side of Manhattan. Designed by DeFonseca Architects and developed by Prosper Property Group, the structure yields 25 residences. Available on NYC Housing Connect are eight units for residents at 70 to 130 percent of the area median income (AMI), ranging in eligible income from $54,755 to $156,130.

Demolition Underway at 14 Gay Street in Greenwich Village, Manhattan

7:30 am on January 22, 2023 By Michael Young

Demolition is progressing on 14 Gay Street, a landmarked three-story residential building in Greenwich Village, Manhattan. Located in the Greenwich Village Historic District, the 196-year-old structure was deemed at risk of imminent collapse by the city and was ordered to be immediately demolished. The current owner, Nazarian Property Group under the 14 Gay Street LLC, also owns the adjacent 16 Gay Street to the north and purchased both buildings along with three other nearby sites for around $12 million last April. Howard I. Shapiro & Associates is listed as the applicant of record for demolition permits that were recently filed for the property, which is located between Waverly Place and Christopher Street.

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