What’s Going on in Lower Manhattan?


South Street Seaport’s Luxury Condos On the Market This Fall

For quite some time now, the South Street Seaport area has been tower-less. Now, Fortis Property Group, which purchased a site on the seaport for a whopping $46M, has been approved for a 646-foot all-glass condo tower. The building has a projected sellout of $272 million, which means average asking price for a condo will be $3.4 million, according to Curbed. The condos will be one-, two-, and three-bedroom luxury apartments, ranging from $1M - $20M. Amenities and extras will include a dedicated Water Club, storage space, and 24-hour concierge service.  

70 Vestry Sky High Condo Prices

Located in TriBeCa, 70 Vestry waterfront condos are now up for sale. The condo, developed by Robert A.M Stern Architects and Related Companies, has a projected sellout of about $700 million. This means the average asking price of these luxurious condos will be around $14 million. The companies acquired the site of the tower in 2014 for more than $115 million. According to Related Company’s website, residences range from 1,900 to over 7,000 sqft and include two- to five- bedroom floor plans. Condos will include libraries, fireplaces, generous terraces, and glorious views of the Hudson River. The building will be ready for move-in by 2018, and will have 29 storage units available, as well as plenty of parking space.


Lower Manhattan Storm Protection System

After Hurricane Sandy, a request for proposals was issued by the Economic Development Corp to find designers and developers for the production of plans to prevent future damage by flooding and other natural disasters. According to Crain’s New York, in February, construction companies AECOM and Dewberry developers were selected to produce new ways to protect lower Manhattan. The project is often called the Big U and has fundraised about $625M towards an estimated total cost of more than $1B.