Financial District

Perelman Performing Arts Center Opens To The Public At The World Trade Center in Financial District

8:00 am on September 16, 2023 By Michael Young and Matt Pruznick

Yesterday at noon the long-awaited Perelman Performing Arts Center (PAC NYC) opened to the general public on the 16-acre World Trade Center site at 251 Fulton Street in the Financial District. Designed by REX with Davis Brody Bond Architects as the executive architect and developed by The Perelman, the 138-foot tall, 129,000-square-foot cubic structure features three flexible performance spaces: the 450-seat John E. Zuccotti Theater, the 250-seat Mike Nichols Theater, and the 99-seat Doris Duke Foundation Theater, all enclosed in a translucent book-matched marble façade. The $500 million property is bound by Vesey Street to the north, Fulton Street to the south, Greenwich Street to the east, and Skidmore Owings & Merrill‘s One World Trade Center to the west.

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Excavation and Foundations Underway at 7 Platt Street in Financial District, Manhattan 

8:00 am on August 2, 2023 By Michael Young and Matt Pruznick

Construction is in full swing at 7 Platt Street, the site of a 37-story mixed-use tower in the Financial District of Lower Manhattan. Designed by Hill West Architects and developed by The Moinian Group, the 464-foot-tall structure will span 267,760 square feet and yield 250 rental apartments spread across 169,840 square feet, as well as 43,740 square feet of retail space on the first five stories and 34 below-grade parking spaces. Titanium Construction is the general contractor for the property, which is alternately addressed as 110 John Street and located on an interior lot bound by John Street to the north and Platt Street to the south.

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1 Park Row Surpasses Halfway Mark in Manhattan’s Financial District

8:00 am on July 31, 2023 By Michael Young and Matt Pruznick

Construction is nearing topping out on 1 Park Row, a 23-story mixed-use building in Lower Manhattan’s Financial District. Designed by Fogarty Finger Architects and developed by Circle F Capital, which received a $90 million construction loan from Parkview Financial in 2021, the 305-foot-tall structure will yield 103,000 square feet with 58 condominium units in one- to three-bedroom layouts, along with 19,000 square feet of office and retail space on the lower levels. Cauldwell Wingate is the general contractor and 1 Park Row Development LLC is the owner of the property, which is located at the intersection of Park Row and Ann Street.

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Preliminary rendering of 111 Washington Street, formerly 8 Carlisle Street

Developer Secures $48M Loan for 64-Story Skyscraper at 111 Washington Street in the Financial District

7:00 am on July 31, 2023 By Sebastian Morris

Grubb Properties has closed on an $86 million loan to construct a residential skyscraper at 111 Washington Street in Manhattan’s Financial District. The development was originally addressed as 8 Carlisle Street and was expected to top out at 50 stories. Updated plans specify a 64-story tower with more than 326,000 square feet of interior space.

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Rendering of completely repurposed 25 Water Street, New York City, from office to residential, courtesy of CetraRuddy.

25 Water Street Readies for 1,300-Unit Residential Conversion in Financial District, Manhattan

7:30 am on July 11, 2023 By Michael Young

Preparation work has begun for the residential conversion of 25 Water Street, a 22-story former office building in Manhattan’s Financial District. Designed by CetraRuddy and developed by GFP Real Estate, Metro Loft Management, and Rockwood Capital, the project involves the construction of ten new stories above the parapet of the existing structure, the replacement of its brick façade with a modern fenestration with more expansive windows, and the gut renovation of its 1.1 million square feet of interiors into 1,300 rental units. When complete, the conversion will be the largest ever in the United States by unit count, surpassing the recent redevelopment of One Wall Street with its 566 condominiums. Pavarini McGovern is the general contractor for the property, which is Water Street to the north, 2 New York Plaza to the south, the New York Vietnam Veterans Memorial to the east, and Broad Street to the west.

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