More details have trickled out for 151 Maiden Lane, the block-long Seaport site of possibility that Fortis Property Group purchased in September.
The 250,000-square-foot downtown Manhattan waterfront site, which has no height restrictions, traded for $64 million, The Real Deal reported. The vacant lot, made up of two parcels, is bounded by Maiden Lane, South Street, Fletcher Street and Front Street.
A residential tower approximately 52 stories tall and with about 95 apartments will rise on the property, Fortis CEO Jonathan Landau told the New York Times.
The site allows for the development of a mixed-use 249,242-square-foot building, with up to 138,468 square feet for residential use and the remaining 110,774 square feet for commercial or hotel use. Fortis had the option of building a single mixed-use tower or two individual projects, but it looks like the developer is going full residential.
“We’re just going to build the residential tower and we’re selling off the hotel site,” Landau told the Times.
The development’s asking prices will be between $2,000 to $3,000 per square foot, with construction starting in the next four or five months.
The seller, Key Development Group, previously tapped John Fotiadis Architect PLLC to design a 40-story mixed-use tower with 175 apartments and a five-star hotel.
This exterior rendering from Fortis’s site reveals a slightly different design:
Rendering: Fortis Property Group
Will this be the final look for 151 Maiden Lane? No Department of Buildings permits have been filed yet, but we’ll keep you posted.