45 Broad Street
45 Broad Street is a fully demolished development site in Manhattan's Financial District offering 299 approved residential units across a 56-story tower. Priced upon request, the 23,797 SF zoning lot sits on the east side of Broad Street between Exchange Place and Beaver Street, steps from the New York Stock Exchange, One World Trade Center, and City Hall. The property is exceptionally rare: it carries a fully vested 421-a tax abatement (no longer available to new construction), approved plans by Handel Architects, and a completed foundation engineered to support 70+ stories, representing an estimated $20–30 million in cost savings.
The site qualifies for an additional 20% floor area bonus under ZR §66-51 due to proximity to the Broad Street subway station, and air rights from the adjacent parcel (Lot 10) have been acquired, bringing total zoning floor area to 263,061 SF. The C5-5(R10), LM zoning permits flexible use: residential, office, hotel, retail, and community facility. The proposed unit mix comprises 88 studios (29.4%), 145 one-bedrooms (48.5%), 60 two-bedrooms (20.1%), and 6 three-bedrooms (2%).
The Financial District has undergone dramatic residential growth, with population rising from approximately 23,000 in 2000 to 70,000 in 2024, and 6,753 units delivered between 2020 and 2025. The neighborhood now functions as a vibrant 24/7 live-work-play district anchored by world-class cultural institutions, acclaimed dining, waterfront parks, and comprehensive transit. Virtually no vacant land remains in the area, creating a structurally constrained supply environment and favorable conditions for long-term rent growth.
- Fully vested 421-a tax abatement with substantial long-term real estate tax savings
- Foundation and pilings completed and engineered for 70+ stories; $20–30 million cost savings
- Approved plans by Handel Architects; 299 units ready for fast-track development
- 20% MTA mass transit bonus; air rights acquired; total ZFA 263,061 SF
- 0.1 miles from Broad Street station (J, Z lines); 0.2 miles from Wall Street stations (2, 3, 4, 5 lines)
- Supply-constrained market with no vacant land; Financial District population grew 3x since 2000
More property details
Features & amenities
Location
Located on the east side of Broad Street between Exchange Place and Beaver Street in Manhattan's Financial District. The site is surrounded by significant institutional anchors including the New York Stock Exchange, One World Trade Center, and City Hall. The neighborhood has transitioned into a vibrant residential area with strong employment base and sustained demand.
- 0.1 miles from Broad Street subway station (J, Z lines);
- 0.2 miles from Wall Street stations (2, 3, 4, 5 lines);
- proximity to Fulton Street transit hub;
- near Pier 11/Wall Street ferry terminal; convenient access to FDR Drive and West Side Highway
Additional details
Fully demolished development site in Manhattan's Financial District. The lot measures 63.44' x 145.88' (12,603 SF). Foundation and pilings have been constructed and are engineered to support a significantly larger tower than the approved 56-story design. The site benefits from vested 421-a tax abatement and approved plans prepared by Handel Architects.
All materials and information provided are without representation or warranty as to completeness, veracity, or accuracy. BKREA makes no representations regarding condition, developability, suitability, or financial performance. Each party must conduct independent investigation and due diligence. All financial data should be verified independently. Legal, tax, and title questions should be discussed with appropriate professionals.
421-a vested; provides substantial long-term real estate tax savings on increase in assessed value from new residential construction