BY: NIKOLAI FEDAK ON OCTOBER 6TH 2014 AT 7:00 AM
YIMBY has the first look at a potential residential tower coming to 19 Beekman Street, in the Financial District, designed by C3D Architecture. The scheme may be modified once the development site is sold, as it is currently listed with Massey Knakal for an unspecified price. Per The Real Deal, Ronnie Oved bought the property for $11.2 million in late 2012, and it sits directly across the street from 8 Spruce.
Combining neighboring air rights and development bonuses, 19 Beekman’s eventual tower could total 161,596 square feet, which would offer the potential of moderate height, especially as no restrictions exist. While several very tall residential towers are in the works across the Financial District, the best analogy in terms of form are likely 33 Beekman, a dorm under development by the Naftali Group on the same block, and The Lara, an apartment building around the corner at 113 Nassau.
Both nearby projects rise to approximately 30 floors, and the scope of C3D’s conceptual plan also portends a tower of approximately this height, with the rendered version rising 23 floors. An eight-story base would maintain the street-wall, while gradual setbacks define a glassy tower above.
Though the eventual developer is likely to opt for a new design, the surrounding neighborhood continues to improve rapidly, which warrants something at least semi-distinguished. Indeed, 33 Beekman is one of the most attractive Kaufman projects rising in Manhattan, and 5 Beekman – rising on the same block as The Lara – will also contribute to the skyline.
Prior to redevelopment, an existing low-rise must first be demolished.
The largest site is in Lower Manhattan, at 25-27 Beekman Street, and has 84,604 square feet of development rights. It is adjacent to a development site for sale by another seller, creating the potential for a buyer to grab 157,122 square feet of development rights.
The six-story Beekman garage, located between Nassau and William streets, is two blocks east of City Hall Park, and adjacent to 19 Beekman Street, with 72,518 square feet of development rights, which Massey Knakal listed as well.