NEW YORK | 75 Nassau Street | 498 FT | 40 FLOORS

[The New York Lion]

Originally Posted by ChiND

With the potent demand for housing, I’m surprised re: the lack of development in FiDi. I’ve loathed for decades the vile one-story buildings at 59 Nassau and 116 Nassau, and that horrendous BK with the adjacent one-story pizza/cheese steak “restaurant” on Trinity.

The Burger King on Trinity isn't so bad. And it's a de facto landmark thanks to it being used as makeshift command center and morgue on 9/11.

I would not be surprised if it is somehow kept intact.

The entire rest of the block (outside of the Memorial Wall) should be demolished and replaced with a 750-800 foot tall gleaming office or residential building. I am not sure how many air rights it has.

[Crawford]

Do we have a height? Looks a lot taller than 500 ft.

[NYguy]

Originally Posted by Crawford

Do we have a height? Looks a lot taller than 500 ft.

The site was sold, we don't know what's going up there now.

Lexin Capital Sells Financial District Development Site for $53M

[NYguy]

A lot could depend on if they get their hands on those MTA air rights.



https://www.citybiz.co/article/790489/jl...ale-of-lower-manhattan-development-site/

JLL Capital Markets Arranges $53M Sale of Lower Manhattan Development Site





JANUARY 7, 2026

JLL Capital Markets announced today that it has arranged the $53 million sale of 75–83 Nassau St., a development site located in the heart of Downtown Manhattan’s Financial District.

JLL represented the seller, New York-based investment firm Lexin Capital and negotiated directly with the buyer, Fulltime Management and Montgomery Street Partners, which plan to build a large-scale mixed-use project on the site, one of Manhattan’s last 421a-vested land parcels.

Assembled over several years by the seller, 75–83 Nassau St. is located steps from the Fulton Street transit hub in FiDi and offers approximately 275,000 square feet of permitted zoning floor area, including 225,000 square feet of residential space. The buyer plans a residential-led tower that includes ground-floor retail and second-floor commercial space.

With vested tax incentives and zoning flexibility, the site could yield approximately 265 apartment units in one of Manhattan’s most transit-connected and rapidly evolving neighborhoods. In its Q3 2025 Multi-Housing investment analysis, JLL reported effective rents across Manhattan exceed $4,450 per unit while vacancy remains tight at approximately 2.5%, reflecting sustained demand for well-located residential product.

[NYguy]

https://therealdeal.com/new-york/2026/01/08/lexin-offloads-fidi-development-site-for-53m/


Jan 8, 2026

Metin Negrin’s firm offloaded the parcel at 75-83 Nassau Street to Full Time Management and Montgomery Street Partners for $53 million, the Commercial Observer reported. The partners are planning a mixed-use development at the site.

Lexin put the development site up for sale last summer, seeking a valuation of around $75 million in either an outright sale or stake sale for one of the last 421a-eligible development sites in Manhattan. For many, that’s huge, as 421a is more favorable to developers compared to its replacement.

Lexin bought the site — five vacant lots following demolition of the buildings — in 2014 for $46 million.

The 13,000-square-foot lot is zoned for mixed-use residential and commercial and eligible to be developed into a 275,000-square-foot rental or condo building.

Full Time and Montgomery are planning a 265-unit development with retail and additional commercial space.

[The New York Lion]

265 units is a pretty sizable increase from 229.

16%.

This building should be about 580-600 feet tall just based on the residential space.