Downtown

Central Park South skyline from across Sheep Meadow, image by Andrew Campbell Nelson

New York’s Housing Fails to Keep Pace With Employment Growth

The worsening housing crisis within the Five Boroughs has been apparent to most residents for quite some time. And now, the Department of City Planning is taking notice. Today, YIMBY has the latest from an event held earlier this week for an Association for a Better New York (ABNY), where its first director affirmed the need to produce more housing, as both New York and its suburbs are failing in this capacity.



75 Nassau Street

Demolition Wraps for Tree-Topped Skyscraper at 75 Nassau Street in the Financial District

Five buildings have now been demolished at 75-83 Nassau Street, just a block away from the Fulton Street transportation hub in the center of the Financial District. The activity will make way for Lexin Capital’s proposed 40-story residential skyscraper designed by ODA. New building permits are still awaiting approval, but recent activity on site suggests increasing momentum toward actual construction.

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388-390 Greenwich St. seen from 41 River Terrace

Checking In On The Facade Renovation at 388-390 Greenwich Street, Tribeca

Across from Piers 25 & 26, 388-390 Greenwich Street has stood for nearly 30 years as one of the tallest skyscrapers in Tribeca. Located just north of the Borough of Manhattan Community College, it is has been home to Citigroup’s New York headquarters since their repurchase of the building in 2016, after selling to SL Green for $1.6 billion back in 2007. The 39-story tower at 388 Greenwich Street sits connected to an adjacent nine-story building at 390 Greenwich Street, which Citigroup has also leased. Both components are in the midst of a major renovation of the lower exterior facades, led by Skidmore, Owings & Merrill, with interior architecture by Gensler.

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45 Park Place

Sharif El-Gamal’s 45 Park Place Begins Rise Into Lower Manhattan Skyline

After years of waiting, 45 Park Place is finally making a rapid ascent into the Lower Manhattan skyline. The skyscraper will soon rise 43 stories and 667 feet to its rooftop pinnacle, and is being developed by Sharif el-Gamal’s Soho Properties. Although substantially shorter than nearby towers like 30 Park Place, 56 Leonard Street, and 111 Murray Street, the 50-unit structure will still offer comprehensive views of Tribeca to the north, Brooklyn, the Manhattan Bridge, and City Hall to the east, and the World Trade Center, immediately to the south.

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