[NYguy]

https://commercialobserver.com/2025/12/nycedc-gfp-real-estate-redevelop-100-gold-street-housing/

NYC Picks GFP Real Estate to Redevelop 100 Gold Street Into 3,700 Housing Units


BY ISABELLE DURSO
DECEMBER 8, 2025

The aging city-owned office building at 100 Gold Street is finally getting its shiny revamp.

After a “competitive” request for proposals process, the New York City Economic Development Corporation (NYCEDC) said it has chosen GFP Real Estate to redevelop the 1960s-built, 10-story office building in Manhattan’s Financial District into a mixed-income residential building, Commercial Observer has learned.

As part of the proposed project, GFP would build approximately 3,700 housing units, with a minimum of 25 percent required to be permanently affordable, according to the NYCEDC. Plans also call for approximately 40,000 square feet of new public open space, and a new “state-of-the-art” fitness center inside the building.

In addition, proceeds from “the disposition of the city-owned site” would be used to acquire new office space for the New York City Department of Housing Preservation & Development (HPD), which currently houses its offices at 100 Gold Street, the NYCEDC said. The funds would also be used to find new office space for other tenants of 100 Gold Street, which include New York City’s Housing Choice Voucher program and nonprofit organization GrowNYC.

The project will undergo land use reviews in 2027, when “robust community engagement will continue,” the NYCEDC said.

News that GFP was selected for the project comes after the real estate firm recently completed another major office-to-residential conversion in the Financial District.

Last week, a joint venture between GFP and Metro Loft inked an $835 million debt package to refinance 25 Water Street, which was transformed from a 1.1 million-square-foot office complex into a 1,320-unit apartment building. The project — the largest office-to-resi conversion in the U.S. to date — also features 100,000 square feet of amenities, including rooftop and indoor pools, a spa, a bowling alley, and a game room.