Silverstein Properties officially broke ground in April 2024 on a $1 billion mixed-use development at 125 Greenwich Street in Lower Manhattan. The project aims to deliver residential, commercial, and retail space in a single landmark complex.

Silverstein Properties is spearheading one of Lower Manhattan’s most ambitious mixed-use developments to date. The project, situated at 125 Greenwich Street, is designed to blend luxury residential units with prime commercial office space and ground-level retail. This development reflects the ongoing transformation of Lower Manhattan into a vibrant live-work-play hub post-pandemic.

The $1 billion investment highlights Silverstein Properties’ continued confidence in New York City’s real estate market. The development will add approximately 1 million square feet of new space, including over 200 residential units and nearly 250,000 square feet dedicated to commercial offices. Retail tenants will also benefit from strategic placement along Greenwich Street, a corridor seeing increased foot traffic.

Developer Larry Silverstein emphasized the project’s role in revitalizing Lower Manhattan’s economic landscape. He noted the integration of sustainable design elements and modern amenities tailored to both residents and businesses. The location capitalizes on proximity to the World Trade Center, transit hubs, and the growing residential population embracing downtown living.

Construction is underway with a targeted completion date in the fourth quarter of 2027. This timeline aligns with rising demand for mixed-use spaces that cater to flexible work arrangements and urban lifestyles. Local officials have lauded the project as a catalyst for further investments in the area’s infrastructure and public spaces.

Frequently Asked Questions

What is the scope of Silverstein Properties’ new development at 125 Greenwich Street?

The development will encompass roughly 1 million square feet, combining over 200 residential units, nearly 250,000 square feet of office space, and retail areas. It is designed as a mixed-use complex to support living, working, and shopping in Lower Manhattan.

When is the project expected to be completed?

Construction began in April 2024, with an expected completion date in late 2027. The timeline reflects a multi-phase delivery aimed at meeting market demand for mixed-use urban spaces.

How does this project impact Lower Manhattan’s real estate market?

The project reinforces Lower Manhattan’s appeal as a dynamic neighborhood for residents and businesses. It provides new luxury housing, modern office environments, and retail opportunities, supporting the continued shift toward a 24/7 downtown economy.

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