The Real Deal New York

Lexin Capital plans 40-story tower at 75 Nassau

Metin Negrin paid $63.4M for land and development rights

March 10, 2015 11:08AM
By E.B. Solomont

75 Nassau and Metin Negrin

75 Nassau Street in the Financial District and Metin Negrin

Lexin Capital is riding the Financial District’s residential boom with permits filed today for a 197-unit tower at 75 Nassau Street.

The ODA Architecture-designed building will rise 40 stories and will have retail space on the first two floors, according to permits filed with the city’s Department of Buildings. There will be offices on the third and fourth floors.

According to the building permit, the high-rise will top out at 498 feet, nearly half the 800 feet that previously was reported. The residential portion will measure 189,780 square feet with another 39,203 square feet of commercial space.

There will be eight apartments each on floors seven through 20, and three apartments on the 22nd floor. Floors 23 through 38 will have four or six apartments, according to plans filed with the city.

Metin Negrin’s development company paid $63.4 million total for the land and air rights. It acquired 75-81 Nassau Street, where the building will rise, for $46 million from the Century 21 department store company, which is owned by the Gindi family. Lexin paid another $17.4 million for 83 Nassau and development rights at 85 Nassau.

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