The Lightstone Group’s major mixed-use development at 120 Fulton Street in the Financial District is moving right along.
The 48-story, 452-unit project will be designed by SLCE Architects, according to a plan exam application filed September 12th. Located between Nassau and Dutch streets, the 422,544-square-foot building will have 21,880 square feet of commercial space on the first and second floors. Apartments will start on the third floor of the development, which will include a gym and roof terrace.
In August, the Lightstone Group closed on a $43 million construction loan with Banco Inbursa SA for the project, The Wall Street Journal reported. The firm has spent $76 million assembling buildings at 112 Fulton, 114 Fulton, 116 Fulton, 118 Fulton and 120 Fulton, as well as air rights at 41 John Street, 43 John, 80 Nassau Street, 86 Nassau, 88 Nassau, 15 Dutch Street and 122 Fulton.
“We’re big believers in the renaissance and the future of the Financial District with the completion on 1 World Trade Center and Condé Nast moving downtown, and the Fulton Street transit hub,” Mitchell Hochberg, Lightstone’s president, told The Wall Street Journal. “It was very appealing to us. We were very focused on the Financial District, and we thought it was underserved by luxury residential.”
Image: The Lightstone Group