7 Platt Street Update 02/22/24

Dev Lands Additional $40M Loan for 37-Story FiDi Tower

Developer, , has just obtained a $40 million, mezzanine construction loan, from Lionheart Strategic Management, for a 37-story, mixed-use tower project, going up at 7 Platt Street in Manhattan's Financial District. This supplements a $165 million construction loan, issued by MSP Partners L.P., back in the spring of 2022.

7 Platt Street will contain rental apartments, spanning floors 7 to 37. Tenant amenities are to include an outdoor pool, a virtual reality room, and a fitness club with a rock climbing wall. Beneath the residential portion, floors 1 to 6 will feature a room hotel, as well as an enclosed parking garage, with enough room for vehicles. The residential and hotel portions will be separated from each other with dedicated lobbies.

Designed by , with  serving as the general contractor, 7 Platt Street will stand feet tall and total square feet altogether. The project site spans square feet and consists of a through-lot, sandwiched between John Street to the north, and Platt Street to the south. Construction is anticipated to finish by the spring of 2025.

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