45 Park Place
Update
08/10/21
Work Remains Stalled for Tribeca Residential Tower
Construction still remains paused for 45 Park Place in Tribeca. The 43-story residential tower has sat dormant, and half-built since 2019, and still has the tower crane attached to its side. Developer, Soho Properties, was allegedly involved in a disagreement with the project's lenders, which ultimately put construction on hold. There are also now reports that contractors involved in the project are pushing for Chapter 7 bankruptcy. Regardless, if construction proceeds, the SOMA-designed tower will stand 667 feet tall and contain 50 luxury condo units. Gilbane Residential Construction is the general contractor, and a sign on the construction fence indicates that the project was originally anticipated to complete in October of 2018. Things have clearly not gone to plan, but fingers crossed that work resumes soon.
