Five years ago, developer Sharif El-Gamal found himself the target of public and political opprobrium when his company, Soho Properties, proposed building Park51, a 15-story Islamic Center and mosque two blocks from the Ground Zero site where the World Trade Center towers were destroyed by the deadliest terrorist attack in the country’s history.
On that same lot—45 Park Place in lower Manhattan, for which El-Gamal paid only $4.85 million in 2009—Soho now proposes to build a 70-story, 667-foot-tall glass condominium tower. According to Bloomberg Business, the skyscraper would offer at least 15 full-floor units of 3,200 to 3,700 sf each, with an average price tag of $3,000 per square foot. The total number of units being proposed was not disclosed.
If the building and pricing are approved, this project is expected to break ground by the end of this year, start selling units early next year, and be completed in 2017. Michael Abboud of the architectural firm SOMA designed the building. The Italian designer Piero Lissoni will design the interiors. Ismael Leyva Architects reportedly is converting SOMA’s exterior design concepts into floor layouts and detailed construction plans.
The proposal calls for 12-foot-tall windows and unobstructed views to the north that begin at close to 300 feet. There will be a 50-foot swimming pool in the basement, concierge service, and a high-ceilinged private lounge.
Bloomberg also reports that Soho still plans to build a three-story Islamic museum and prayer space that would be connected to the tower via a public plaza.
Soho Properties first disclosed preliminary plans for its tower in August 2014, but was still feeling the sting of negative press surrounding the Islamic Center controversy. Those preliminary plans, though, called for a 39-story, 48-unit condo building, considerably shorter than the tower Soho wants to build now.
Soho is attempting to strike while the luxury condo boom is still hot. Home prices in downtown have risen by 28% since 2012. StreetEasy.com, which tracks sales and pricing activity in New York, estimates that homes in the downtown area are on the market for an average of 56 days before they’re sold, or about half the time it took in 2012.
About 5,500 units are being planned or are under construction in the downtown area south of Chambers Street, which suggests that Soho’s proposed tower would run the risk of jumping into a very crowded field.
Related Stories
Giants 400 | Nov 18, 2021
2021 Multifamily Sector Giants: Top architecture, engineering, and construction firms in the U.S. multifamily building sector
Clark Group, Humphreys and Partners, and Kimley-Horn head BD+C's rankings of the nation's largest multifamily building sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Sponsored | | Nov 15, 2021
How TDK Construction Saves Time and Money with EXACOR™ MgO Panels: Getting in on the Ground Level
Smart decisions made at the start of multifamily design-builds can improve efficiency on the job site, keeping projects on-time and on-budget, so you can make your properties profitable sooner. TDK Construction did just that on a recent luxury apartment project in Tennessee.
Multifamily Housing | Nov 14, 2021
How to build better parking for multifamily housing projects
In designing and building multifamily projects, parking determines everything from site suitability to the building’s footprint to revenue optimization.
Multifamily Housing | Nov 9, 2021
MAD Architects unveils One River North design
The project is set to rise in Denver.
Hotel Facilities | Nov 3, 2021
California’s Hotel del Coronado is finishing up the final piece to its Master Plan
A 75-residence Shore House will be family oriented and meeting commodious.
Multifamily Housing | Nov 3, 2021
Courthouse becomes mixed-income housing development
The project is located in Worcester, Mass.
Adaptive Reuse | Nov 1, 2021
CallisonRTKL explores converting decommissioned cruise ships for housing
The rapid increase in cruise ship decommissioning during the last 18 months has created a unique opportunity to innovate and adapt these large ships.
Multifamily Housing | Oct 31, 2021
Developer chooses ductless HVAC system for the Lofts at Empire Yards
Georgia developer chooses ductless systems for their performance, quiet operation, and efficiency 'in a nice, sleek package.'
Multifamily Housing | Oct 31, 2021
Propane tankless water heaters conserve water and energy
Propane tankless water heaters offer efficient, on-demand hot water for multifamily buildings.
Cladding and Facade Systems | Oct 26, 2021
14 projects recognized by DOE for high-performance building envelope design
The inaugural class of DOE’s Better Buildings Building Envelope Campaign includes a medical office building that uses hybrid vacuum-insulated glass and a net-zero concrete-and-timber community center.