50 West Street

also 78 Washington Street, 1 Joseph P Ward Street, 11 Joseph P Ward Street | Financial District | built 2016

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Written with AI from the source each entry cites, then fact-checked.

  1. 2007

    October 5

    Helmut Jahn's curved-glass tower design wins City Planning Commission approval

    Time Equities presented the tower design to three Community Board 1 committees on June 7, 2007, and the City Planning Commission approved it on October 5. Early opposition centered on the lack of affordable housing money, and the dispute was settled with a $5 million agreement, including $430,000 for a computer science program at P.S./I.S. 89. The glass-clad design called for about 3,000 panels, 500 of them curved.

    Source: Wikipedia

  2. 2007

    The 1912 Crystal Building is demolished to clear the site

    Developer Time Equities, which bought the former office building at 50 West Street in 1983, had the site's two buildings demolished between late 2007 and early 2008. One was the Crystal Building, a 13-story structure from 1912 with a three-story mansard roof.

    Source: Wikipedia

  3. 2008

    About 150 guests attend the groundbreaking for the $600 million tower

    Time Equities broke ground on 50 West Street in 2008 before roughly 150 guests, with chairman Francis Greenburger welcoming officials and community leaders and religious leaders blessing the site. The project was then described as a $600 million, 65-story mixed-use tower of 580,000 square feet. The developer also committed $4.6 million to an affordable housing preservation fund and $430,000 to a computer science program at P.S./I.S. 89.

    Source: nyrej.com

  4. 2008

    Construction stalls after the 2008 financial crisis

    Time Equities broke ground in June 2008 on a planned 66-story hotel and condominium tower, but work stopped by the fall as the financial crisis took hold. The project sat idle for five years until a $288 million loan and $110 million in equity from Elliott Management let work resume in 2013.

    Source: Wikipedia

  5. 2013

    August

    A $288 million loan and $110 million from Elliott Management restart the stalled tower

    In August 2013 Time Equities secured nearly $400 million in construction financing for the tower, which had been on hold since the 2008 financial crisis. A lending group led by PNC Bank provided a $288 million syndicated construction loan, and Elliott Management invested $110 million through a joint venture. The planned hotel was scrapped, and the design followed FEMA guidelines, including a raised ground floor, relocated mechanical equipment and a natural-gas emergency generator.

    Source: rebusinessonline.com

  6. 2015

    September

    Helmut Jahn's curved-glass tower tops out

    The 64-story tower, designed by Helmut Jahn, topped out in September 2015. Its glass skin was planned to use about 3,000 panels, some weighing up to 1,900 pounds, with 500 of them curved. After Hurricane Sandy caused damage in 2012, the developers made the building flood-resistant with a raised ground-floor sill and floodgates.

    Source: Wikipedia

  7. 2016

    January

    The developer hunts for a 'Gotham look-alike' restaurant for the tower's two-floor space

    By January 2016 the tower had topped out, and Francis Greenburger was looking for a restaurant to fill a 10,500-square-foot two-level commercial space. He set the asking rent at $95 per square foot, far below average, to attract a good operator, and said he wanted a place like Gotham Bar and Grill. The owners of Gotham had turned down his request to open an outpost there.

    Source: commercialobserver.com

  8. 2017

    Residents begin moving into a tower with a 64th-floor private deck

    Occupancy began in 2017 in the 191-unit condominium. Four floors are given over to amenities, including a pool, sauna, screening room and library. A private open-air observation deck sits on the 64th floor at 734 feet. Sales had opened in spring 2014, with prices running from about $1.96 million to $22.6 million.

    Source: Wikipedia

Further reading

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