.png)
45 Park Place
Update
01/31/23
Work on Tribeca Highrise Continues to Stagnate
Construction still hasn't resumed on 45 Park Place in Manhattan's Tribeca neighborhood. The 43-story residential tower has sat dormant, and half-built since 2019, and still has a tower crane attached to its side. The story goes that the developer, Soho Properties, was allegedly involved in a disagreement with the project's lenders, which ultimately decided to put construction on hold. Last year, there were also reports that contractors involved in the project were pushing for Chapter 7 bankruptcy.
If construction does eventually proceed, the SOMA-designed tower will stand 667 feet tall and contain 50 luxury condo units. Gilbane Residential Construction is serving as the general contractor, and a sign on the construction fence indicates that the project was originally scheduled to complete way back in October of 2018. Things have clearly not gone to plan, but fingers crossed that work resumes soon.
