Projects

45 Broad Street

The new 45 Broad Street building will be an impressive 1,115-foot tall structure that will be clad with bronze-colored aluminum panels and an intricate mix of sleek vertical and curved lines. Once complete, it is expected to be one of the tallest residential structures in lower Manhattan. The 80-story building will offer 206 luxury condos in studio, 1-, 2-, and 3-bedroom variants, and floors 1-8 are expected to be office space geared towards millennials. Overall, the building is expected to yield approximately 407,000 square feet of residential space and 62,000 square feet dedicated to commercial-office use.

The bottom floors of the building will host the main entrance, offices, and amenities. The residential units will start 240 feet above street level and go up as high as 950 feet. People living in the building will be able to see the entire skyline of lower Manhattan, the confluence of the Hudson and East Rivers, Jersey City to the west, Brooklyn to the east, and views of the Verrazano Narrows Bridge to the south.

AMENITIES
Amenities will include a full-floor fitness facility with a yoga studio, a boardroom, a children’s playroom, a communal lounge, a catering kitchen, and multiple interspersed outdoor terraces. There will also be a swimming pool with a sauna and treatment rooms, an outdoor garden, a dog run, and bicycle storage.

LOCATION
The public will gain a new entrance point to the J and Z trains along Broad Street that will come with an elevator and will be ADA accessible.

SPONSOR DETAILS
The project is being developed by a highly experienced sponsorship group including Gemdale USA Corporation, Madison Equities, and Pizzarotti SA. Gemdale USA Corporation, a United States subsidiary of Gemdale Corporation, is one of China’s largest real estate developers. Madison Equities is a top Manhattan development company and is highly regarded for its ability to bring creative solutions to complex real estate development, as well as for its commitment to innovation in architecture, interior design, and construction techniques. Pizzarotti SA is the general construction company and is wholly owned by Pizzarotti & C. SpA., which has been in operation for more than 100 years. Construction started in late 2017 and is well underway.

PROJECT DETAILS

Project Type:
Residential and office
Project Sponsor:
Gemdale USA Corporation, Madison Equities, and Pizzarotti SA
Construction Start Date:
October 2017
Construction End Date:
August 2021*
Maximum EB-5 Capital Amount:
$100,000,000
Capital Structure:
Mezzanine loan
Minimum Investment
Amount:
$500,000 USD for qualified EB-5 investor
Number of Investors:
200*
Job Creation:
5,025*

*Estimated.