Continuing our Turkey Week rundown of notorious stalled projects in New York is 45 Park Place, a 43-story residential skyscraper in Tribeca, Manhattan. Designed by SOMA Architects and Ismael Leyva Architects and developed by Sharif el-Gamal of Soho Properties, the 667-foot-tall structure was slated to yield 50 condominium units. The property is located between Church Street and West Broadway.
An updated design has been revealed for 65 Franklin Street, a planned 28-story residential building in Tribeca, Manhattan. Designed by COOKFOX Architects, with Hamish Whitefield Architects having filed for foundation work, and developed by Rabsky Group, the 235-foot-tall structure will span 214,000 square feet and yield 89 condominium units. The project will also include ground-floor retail space. The property is alternately addressed as 360 Broadway and located at the southeast corner of Franklin Street and Broadway.
Rudin Management Company has secured a multi-year extension on its $425 million CMBS loan for 32 Avenue of the Americas, a 27-story Art Deco tower in Tribeca, Manhattan. The extension allows for a maturity date of November 2029, contingent upon the exercise of two one-year renewal options in 2027 and 2028. As part of the agreement, Rudin will launch $100 million in capital improvements and leasing initiatives aimed at modernizing and enhancing the property, which is located between Lispenard and Walker Streets.
Slate Property Group and Avenue Realty Capital have partnered to acquire 81 Franklin Street, a six-story residential building in Tribeca, Manhattan. The $30 million transaction adds 32,700 square feet to the firms’ growing New York City portfolios. The property is located between Broadway and Church Street.
Work is progressing on 101 Franklin Street, a 16-story office-to-residential conversion in Tribeca, Manhattan. Designed by Rafael Viñoly Architects and developed by TPG (formerly Texas Pacific Group), Cannon Hill Capital Partners, and Skylight Real Estate Partners, the project will repurpose the 79-year-old structure’s 205,000 square feet into condominiums and replace its mid-century façade with a modern envelope. The property is alternately addressed as 250 Church Street and located on a through-lot parcel between Franklin and Leonard Streets.
