This one’s gonna be nice when it finally goes up. It’ll alter the skyline for the better.
Too bad they can’t recommission the old 55 Broad plan and use Inception to get every single person to abandon 15 William, then demolish those both and have a huge lot for a new tower. That would be a dream come true for me.
That space is so narrow.
Nice photo! It looks like this was taken on the actual construction site. This tower’s design, based on the latest renderings from CetraRuddy and assuming no substantial changes occur as the building rises, will make it a very nice addition to the Downtown skyline. One thing I find interesting about this project is that it’s targeting mid- and entry-level buyers. Buyers like that are so often priced out of super-tall residential buildings in Manhattan, including in FiDi and BPC.
Reading about these projects really does highlight the transformation of FiDi over the past decade. Just consider how many new residential developments are either about to top out, well underway, just getting started, or in the early stages of planning. 50 West has been a nice addition, 125 Greenwich, 77 Greenwich, 130 William, 161 Maiden, the rumored ultra-super-tall at 80 South, 111 Murray, 8 Spruce, One Manhattan Square (252 South), One Beekman, 5 Beekman, and on and on.
In addition, a host of commercial buildings in FiDi like 101 Wall have been converted to condos or rentals, with more on the way including One Wall and MetroLoft’s 20 Broad. Wall Street is likely going to be overwhelming residential in the not-too-distant future. Last year Singapore’s sovereign wealth fund (GIC Singapore) purchased a 95% stake in the Deutsche Bank Building at 60 Wall. I’m curious to look into what their plans are for the building, as I could see it being partially or fully converted to residential or a hotel, given, among other things, the trajectory of the neighborhood and the building’s impressive, postmodern, neoclassical look.
Regardless, 45 Broad will hopefully prove a resounding success. As a financier and developer, one of Gemdale’s primary interests in 45 Broad, I’m told, is the anticipated pricing for the residential condos at $4 million and below and the fact that no one else seems to be doing that in Manhattan for new luxury development despite a softening market for ultra-luxury apartments.
Are these all end-bearing piles?
I’m guessing the floors will be made of steel and the core will be reinforced concrete
Does anyone know what the 421-a tax abatement status of 45 Broad will be? Getting the tax abatement in addition to the lower price points would make for good marketing.
Robert Gladstone himself recently purchased a 3 bedroom at 160 Leroy for $6,000,000. Looking at the unit he purchased, I hope his business acumen is better than his personal negotiating skills.
Just an inane comment from that article:
In many cases, super-tall also means ultra-thin. And slender buildings necessarily have fewer and smaller elevators (relative to their overall size) than Lower Manhattan buildings that were erected a generation ago.
Despite the oversupply of luxury condos in New York City as a whole, I haven’t been able to find any research on future demand for luxury condos broken out by neighborhood. Lower Manhattan is only beginning to see the start of a large influx of new commercial tenants at locations like the WTC. McKinsey, for instance, is leaving its long-time Manhattan headquarters at 55 East 52nd Street and moving to 3 WTC. So it would make more sense to me if FiDi’s current residential building boom, of which 45 Broad is a big part, has much more to do with developers’ calculation of anticipated future demand from this influx of new workers, who could be lured with the prospect of a cush commute, than with current luxury market conditions, which are pretty soft.
I was wondering why the heck the height was listed as 1200ft on SSC. Apparently that figure is from the CTBUH. That’s about as official as it gets even if its not from the horse’s mouth.