Financial District

Capital Improvement Program Revealed for 60 Broad Street in Manhattan’s Financial District

7:30 am on January 20, 2023 By Sebastian Morris

Piedmont Office Realty Trust has revealed an extensive capital improvement program at 60 Broad Street, a 38-story mid-century office tower in Manhattan’s Financial District. Designed by Morris Adjmi Architects, a tenant at the building, the overhaul will create a new building entryway, a renovated lobby, modernized elevator cabs, and new amenity spaces. The property is bound by Beaver Street to the south, Broad Street to the east, and New Street to the west.

Rendering of CompletePlayground at 30 Broad Street in Financial District, Manhattan

Underground Family Activity Center to Debut at 30 Broad Street in Financial District, Manhattan

7:00 am on January 16, 2023 By Sebastian Morris

CompletePlayground, a new nonprofit organization, will open its first family activity center at 30 Broad Street. The 40,000-square-foot underground playground is designed to accommodate children of all abilities, including those with special needs. The playground will occupy a portion of New York Sports Club’s former Financial District location.

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

Developers Close on $535M Loan to Redevelop 25 Water Street in Financial District, Manhattan

7:30 am on December 29, 2022 By Sebastian Morris

Newmark has arranged a $535.8 million loan to support a 22-story office-to-residential conversion project at 25 Water Street in Manhattan’s Financial District. The joint venture behind the project includes GFP Real Estate, Metro Loft Management, and Rockwood Capital.

Housing Lottery Launches for 60 Fulton Street in Manhattan’s Financial District

7:00 am on December 29, 2022 By Vanessa Londono

The affordable housing lottery has launched for 60 Fulton Street, a 23-story mixed-use building at 54-56 Fulton Street in Manhattan’s Financial District. Designed by Hill West Architects and developed by Parkland Group and Socius Development Group, the structure yields 120 residences. Available on NYC Housing Connect is a waiting list to fill four current and ongoing vacancies for the 30 affordable units allotted to residents at 40 to 130 percent of the area median income (AMI), ranging in eligible income from $24,378 to $187,330.

Seaport Residences Remains Stalled at 161 Maiden Lane in Financial District, Manhattan

8:00 am on November 21, 2022 By Michael Young

Kicking off our annual Turkey Week rundown of notable stalled projects is Seaport Residences, a 60-story residential skyscraper at 161 Maiden Lane along the border of Lower Manhattan’s Financial District and the South Street Seaport District. Designed by Hill West Architects and developed by Fortis Property Group, the 670-foot-tall tower has been on hold since sometime in late 2020, and its future remains uncertain. The 200,000-square-foot structure is planned to yield 80 units with interiors by Groves & Co. Ray Builders was the latest contractor for the property, which is located on a narrow rectangular site bound by South Street and Maiden Lane.

Street-level renderings of proposed changes to 60 Wall Street's front elevation; Submitted to the LPC September 2022

Paramount Group’s Modernization Project at 60 Wall Street Remains Uncertain After LPC’s No-Action Ruling

7:00 am on October 3, 2022 By Sebastian Morris

Local preservationists recently celebrated the Landmark Preservation Commission’s decision to take no action on proposals to redesign 60 Wall Street‘s iconic lobby and atrium in the Financial District of Manhattan. Led by Paramount Group, the building’s current owner, the proposed renovation includes replacement of the atrium’s geometric columns, perforated ceilings, palm trees, and terrazzo flooring with a more modern design by international architect Kohn Pederson Fox.

160 Water Street in Manhattan's Financial District - Photo by John W. Cahill for CTBUH

Brookfield Provides $272.5M Loan for Residential Conversion Project at 160 Water Street in Financial District, Manhattan

7:00 am on September 11, 2022 By Sebastian Morris

Brookfield Real Estate Financial Partners has provided a $272.5 million construction loan for a major office-to-residential conversion project at 160 Water Street in Manhattan’s Financial District. The 530,000-square-foot building will eventually debut as a 588-unit rental property.

77 Water Street - © John W. Cahill; CTBUH

Sage Realty Secures $127.5M Loan to Complete Improvements at 77 Water Street in Financial District, Manhattan

7:30 am on September 2, 2022 By Sebastian Morris

Sage Realty and Principal Real Estate Investors have secured a $127.5 million financial package to complete major capital improvements at 77 Water Street, a 26-story commercial building in Manhattan’s Financial District. The scope of work will focus on the pedestrian plaza at the foot of the property, upgrades to the lobby, and a redesign of the existing arcade.

NYHDC Inks 109,000-Square-Foot Lease at 120 Broadway in Manhattan’s Financial District

7:30 am on August 20, 2022 By Sebastian Morris

The New York City Housing Development Corporation (NYCHDC) will soon relocate to the Equitable Building, a historic office tower at 120 Broadway in Manhattan’s Financial District. As the agency’s new headquarters, the two-floor suite totals more than 109,000 square feet on the building’s second and third floors.

GFI Completes $195M Refinancing of The Beekman Hotel at 123 Nassau Street in Financial District, Manhattan

7:00 am on February 6, 2022 By Sebastian Morris

An affiliate of GFI Capital Resources has secured $195 million in refinancing for The Beekman, a historic landmarked hotel in Manhattan’s Financial District. The deal included a $130 million senior loan with Bank OZK arranged by Newmark and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.

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