NEW YORK | 115 Nassau St. (5 Beekman) | 687 FT | 47 FLOORS

[Eidolon]

Bull Market for Buildings in the Financial District
BY KAYA LATERMAN
September 19, 2013,

Many landlords of older office buildings, such as the landmark former AIG building at 70 Pine St., are simply reconfiguring space into new rental units and into extended-stay apartments with retail and restaurant space on the ground floor. That said, some developers are tearing down buildings to replace them with residential towers, as in the case of 112-120 Fulton St.

Meanwhile, a swath of new hotels is entering the area. The landmark Temple Court at 5 Beekman St. will turn into a 285-room boutique hotel that will also have 85 residences and incorporate a new 40-plus-story tower at 115 Nassau St. Construction has started on a new Aloft hotel at 49 Ann St., as well as on a Residence Inn by Marriott at 170 Broadway and a Four Points by Sheraton at 6 Platt St.

I wonder if they will go for a design that complements the fantastic 5 Beekman Street, but no matter what's chosen the site is shovel ready and has been for some time now.