Skip to Content
CityRealty Logo
New Canal Street project
By Carter Horsley   |   From Archives Friday, July 22, 2005
Red Brick Canal LLC and Armand P. Arman, the artist, have applied to the Board of Standards & Appeals for variance to permit the construction of an 11-story residential building at 482 Greenwich Street.

The site is an irregular lot on the northwest corner at Canal Street at the edge of the historic shoreline within a high hazard flood plane and on the former site of a gas station.

The developers want to demolish an existing garage and build 26 feet two inches above the street wall limit of 85 feet along Canal Street. The proposed building would have a floor-to-area ratio of 7.98 but the maximum permited in this district is 6.02. A recent rezoning of the Hudson Square district downzoned much of the district but this block was slightly "upzoned."

Community Board 2 last night passed a resolution that "strongly opposed" an increase in bulk over a FAR of 6.02, but agreed that the developers has "a valid hardship sufficient to justify an increase in lot coverage."

Thomas McKay is the architect for the project.

Related Articles

Get To Know

How property values are assessed in NYC + Great new listings with open houses from $445K

Saturday, June 20, 2026
Get To Know

Swim with a View: 30 Manhattan buildings with high-floor swimming pools and fitness centers

Saturday, June 20, 2026
Future New York

Brick is Back: NYC developments revive the warmth of masonry; See Morris Adjmi's new design for 277 Canal Street

Friday, June 19, 2026
Coney Island

Knicks in Five: 35 NYC condo and rental buildings with basketball courts

Thursday, June 18, 2026
Future New York

Price Cuts: Baz Luhrmann’s Gramercy townhouse slashed by $7M; New discounts at Brooklyn and Queens’ tallest towers

Thursday, June 18, 2026
New Jersey

Willow House: Boutique rental in Hoboken's resurgent North End launches with two months free rent

Thursday, June 18, 2026
Future New York

NYC Contracts: $80M trophy penthouse signed at 80 Clarkson; One High Line's last penthouse finds a buyer

Tuesday, June 16, 2026
Future New York

What's old is new again: Mass timber construction in NYC as Timberburg readies to launch sales

Tuesday, June 16, 2026
Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.