45 Broad Street

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45 Broad Street
General information
StatusUnder construction
TypeMixed-use
Estimated completion2021
Height
Roof1,200 ft (365.8 m)[1]
Technical details
Floor count68
Floor area371,635 sq ft (34,526 m2)
Design and construction
ArchitectCetraRuddy
References
[2]

45 Broad Street is a skyscraper under construction in the Financial District of Manhattan, New York, United States.[3] The building will become Downtown's tallest residential tower.

History and construction[edit]

A proposal dating to 2008 planned a Nobu Hotel for the site, which was backed by Robert De Niro. The building, a conventional glass curtain wall, would have contained a retail base, 128 hotel rooms, and 77 "super-luxury" condominiums above the hotel.[4] The planned Nobu Hotel would have been 62 stories and 709 feet in height, but the proposal was derailed due to the Great Recession.[5]

In 2014, the parcel was placed on the market, and Madison Equities finalized their acquisition of the land in October of that year.[6] AMS Acquisitions is also an investor in the project, and the building will be constructed by firm Pizzarotti-IBC.[6]

Real estate site 6sqft released early renderings of the new plans for the site in January 2016.[7] After the release of the renderings, Pizzarotti-IBC Rance MacFarland confirmed that the new structure would be a supertall, residential skyscraper catering to "entry- and mid-level buyers".[3] More developed renderings were published by The Real Deal in February 2016.[8]

Members of the New York real estate industry have expressed doubts that Madison will recoup costs, and the company has faced difficulty receiving funding for the project.[9] These difficulties are in part due to the site's proximity to the New York Stock Exchange and the high-level security around that building.[9] However, the anticipated pricing of units in the building at just under $1 million up to $4 million has attracted additional investors including Gemdale (one of China's largest developers) given the softening super-luxury market.[10]

Construction work on the foundation began in April 2017,[9] and excavation began in May 2018.[11]

Subway elevators[edit]

In July 2016, it was announced that the Landmarks Preservation Commission had approved the construction of two new subway elevators outside the entrance to the building, available for public use. They will connect to the existing Broad Street J/Z subway station. The design of the elevators is being overseen by Urbahn Architects, although they did not design the associated building.[12] New York's City Council approved the construction of the elevators in July 2018, and granted the developers 71,391 additional square feet in zoning rights in exchange for building the elevators.[13]

Usage and amenities[edit]

The building will be mixed-use with 245 residences and a five-story retail base with 62,000 square feet dedicated to commercial-retail use and 93,900 square feet dedicated to a school. Amenities in the building will include a fitness center with a pool, an outdoor garden, and several lounges. Windbreak levels will puncture the façade on the 27th and 43rd floors. The two floors will have 32-foot tall ceilings made open for terrace space.[14]

Design[edit]

The building is being designed by CetraRuddy, which also designed One Madison, and is being built by Madison Equities, Pizzarotti LLC, and AMS Acquisitions[15] The building's bronze aluminum cladding and its distinctive crown will make it one of the first so-called Neo Art Deco skyscrapers being built in New York City.

References[edit]

  1. ^ "45 Broad Street". CTBUH Skyscraper Database.
  2. ^ "45 Broad Street". Skyscraper Center. CTBUH. Retrieved 2017-07-02.
  3. ^ a b Plitt, Amy (6 January 2016). "Planned 1,100-Foot, 86-Story Tower Will Rise at 45 Broad St". Curbed. Retrieved 29 July 2016.
  4. ^ Arak, Joey (8 May 2008). "Nobu Hotel, Like its Patrons, Will be Tall & Skinny". Curbed. Retrieved 29 July 2016.
  5. ^ Fedak, Nikolai (21 January 2014). "For Sale: 45 Broad Street". YIMBY. Retrieved 29 July 2016.
  6. ^ a b Wilson, Reid (26 October 2014). "Developers Close On 45 Broad Street, Plan 65-Story Condo Tower, Financial District". YIMBY. Retrieved 29 July 2016.
  7. ^ Hylton, Ondel (5 January 2016). "REVEALED: 45 Broad Street, Slated to Be Among the Highest Condo Buildings Downtown". 6sqft. Retrieved 29 July 2016.
  8. ^ Clarke, Katherine (26 February 2016). "Revealed: Madison Equities' 45 Broad condo tower". The Real Deal. Retrieved 29 July 2016.
  9. ^ a b c Clarke, Katherine (1 May 2017). "Robert Gladstone's risky business". The Real Deal. Retrieved 8 May 2017.
  10. ^ Brenzel, Kathryn (20 June 2016). "Chinese company partners with Madison Equities to build 45 Broad condo". The Real Deal. Retrieved 10 November 2018.
  11. ^ Nelson, Andrew (9 May 2018). "Excavation Begins For 45 Broad Street, Downtown's First Residential Supertall". YIMBY. Retrieved 9 May 2018.
  12. ^ Bindelglass, Evan (28 July 2016). "45 Broad Street Supertall Coming with New Subway Elevators, Financial District". YIMBY. Retrieved 31 July 2016.
  13. ^ Brenzel, Kathryn (5 July 2018). "City Council approves 70K sf bonus for Madison Equities' FiDi supertall". The Real Deal. Retrieved 15 August 2018.
  14. ^ Nelson, Andrew (9 May 2018). "Excavation Begins For 45 Broad Street, Downtown's First Residential Supertall". YIMBY. Retrieved 12 November 2018.
  15. ^ Fedak, Nikolai (4 December 2017). "New Renderings For Supertall 45 Broad Street As More Machinery Appears On Site". YIMBY. Retrieved 4 December 2018.

Coordinates: 40°42′20″N 74°0′41″W / 40.70556°N 74.01139°W / 40.70556; -74.01139