FINANCIAL DISTRICT — A 65-story condo tower is slated to rise on a long-vacant lot in the Financial District.
Developer Madison Equities and Italian real estate firm Pizzarotti Group are planning to build a tower at 45 Broad St., after purchasing the property for $86 million, the companies announced Monday.
The project, first reported by the The Real Deal, is expected to be finished in 2019.
The building will be designed by architect Cetra Ruddy, whose recent projects include One Madison Avenue, Walker Tower and the Orion, Madison Equities said.
The property was once set to be turned into a hotel-condo tower by previous developer, Kent Swig. That plan fell through after the economic downturn several years ago.
“We look forward to creating an extraordinary building with our partners in a new, thriving Downtown market," said Robert Gladstone, a principal with Madison Equities in a statement. "The building will provide outstanding panoramic views of the Hudson River, New York Harbor and the revitalized World Trade Center area.”
