In the News: 45 Broad construction delayed

In the latest Attack of the Supertalls report, Madison Equities and Gemdale Properties’ condo originally announced three years ago at 45 Broad is on hold, and when it commences, it will be 80 feet shorter. The building was scheduled to be 1115 feet tall, but Department of Buildings filings has it shortened.

From The Real Deal: “45 Broad Street remains a top priority for the development team, and we have strong long-term confidence in the project’s viability,” a spokesperson for Madison and Gemdale said. “Due to short-term conditions in the Lower Manhattan market, we have decided to delay on constructing the building in the near future.” Sales in FiDi sank almost 45 percent quarter over quarter at the end of 2019.

Not sure where this leaves the two elevators for the Broad Street station, which were a deal made for an extra 70,000 square feet of development…

 

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