Three towers, nearly 4,000 apartments: FiDi’s 100 Gold Street plan gets bigger

Mayor Zohran Mamdani said Tuesday that the redevelopment of 100 Gold Street in the Financial District will now include nearly 4,000 apartments, roughly 300 more than the city first proposed.

About 1,000 of those homes would be rent-stabilized and permanently affordable. The site would also get a public fitness center, other amenities and a new senior center replacing the one Hamilton-Madison House operates there today. The larger plan arrives before public review begins, and that process will settle the final size and unit count.

What the 100 Gold Street towers could look like

The city’s Economic Development Corporation released renderings, credited to CetraRuddy Architects, that show three towers. Judging by the images, the tallest would reach 1,000 feet or more. The second looks to be about 800 feet tall, and the third somewhere between 450 and 500 feet.

The current structure on the lot is a nine-story office block built in the 1960s. Most of its space belongs to the Department of Housing Preservation and Development, and other city agencies work there too. Former Mayor Eric Adams picked GFP Real Estate in December following a request for proposals. The firm’s Lower Manhattan office-to-residential conversions include 40 Exchange Place, 25 Water Street and 222 Broadway. No city subsidy is involved, though the development will qualify for the 485-x tax break, according to the city. Proceeds from the deal will cover moving the agencies out of the building.

“At 100 Gold Street, we have an opportunity to turn an aging government building into nearly 4,000 new homes,” Mamdani said in a statement.

How the Elizabeth Street Garden deal shaped the plan

Gold Street became a bargaining chip last June. Council Member Chris Marte agreed to back rezonings at three sites in his district, 100 Gold Street, 156-166 Bowery and 22 Suffolk Street, and in exchange the Adams administration dropped its plan to build affordable senior housing on the Elizabeth Street Garden. As a candidate, Mamdani had pledged to keep that housing project on the garden site. Before the November election, however, Adams transferred the garden to the Parks Department, which made the development nearly impossible. An August settlement allows the developers to proceed with the area’s other affordable housing projects.

According to the city, Manhattan Community District 1 has built roughly half as many permanently affordable homes over the past decade as this project would deliver. A scoping hearing is set for next month, followed by an environmental review, and the city expects the project to enter the uniform land use review procedure in 2027.