When we visited the future home of the supertall at 45 Broad Street last fall, little work had been done since the groundbreaking ceremony. But now that the New York City Council has granted the final approval for three FAR (floor area ratio) zoning bonuses, things are expected to kick into high gear soon.
A Zoning resolution permitted these bonuses to be granted in exchange for improvements at the nearby J/Z Broad Street subway station. Two new street-to-platform elevators will prove highly beneficial to the rapidly growing Financial District community, as well as the city’s underserved disabled population. Turnstile improvements for the nearby Wall Street 4/5 subway station are also in the works.
In this article:
Rendering of proposed subway elevator
The added floor area will be shared among the eight floors of office space and 209 condominiums. The offices will feature 16-foot ceilings; co-developer Madison Equities, which is developing the building in a joint venture with Pizzarotti IBC, notes that it will serve new economy tenants. Upstairs, the condos will benefit from panoramic views as a result of starting at 240 feet and going all the way up to an elevation of 952 feet.
Upon completion, 45 Broad Street will rise 66 stories and 1,115 feet high to be the tallest residential building south of Billionaires’ Row. A rendering by CetraRuddy shows a slim, feathery tower with a golden filigree façade that shows Art Deco and Gothic elements. Residential amenities will include an indoor pool, fitness center, outdoor garden, and library among other lounging and entertaining spaces. An accepted offering plan did not have a sellout price, but the average asking price is reported to be $2.7 million.
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Michelle Merritt
Michelle is a contributing writer and editor for real estate news in New York City
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