The building rises 7 stories on Mercer Street and six stories on Broadway and contains 8 apartments.

Broadway Partners LLC is the developer and acquired the site in 2005 and estimated completion in early 2007.

Traboscia Roiatti Architects have designed the building, which has have an attractive perforated cornice on Mercer Street where the firm has also designed a residential condominium project at 44 Mercer Street.

72 Mercer Street has two-bedroom lofts with between 2,133 and 2,142 square feet and a 733-square-foot terrace for the second-floor units and 60-square-foot balconies for the units on the third and fourth floors, and 3-bedroom penthouse units with gas fireplaces, ceilings that range from 11 to 20 feet in height, and about 3,872 square feet of interior space, two balconies with about 56 square feet and a terrace with about 1,399 square feet.

Apartments have Whirlpool Duet washers and dryers and will have Bulthaup b3 kitchens with maple and aluminum cabinets, a 36-inch Thermador gas cooktop, a Gaggenau wall oven, a SubZero refrigerator, and a Miele dishwasher. Each loft has have a private balcony, terrace, or rooftop garden.

Bathrooms are lined with honed white Carrara marble and have Dornbracht fittings, a Duravit sink and a Waterworks bathtub and a custom rift oak double vanity.

The building has two entrances, a fitness studio, central air and heating, private storage units and a 24-hour concierge.

From the late 1880s to the 1950s, the site was occupied by a cast-iron structure that was destroyed by a fire and subsequently replaced by a parking lot.