The Real Deal New York

Moinian plans new 28-story resi project in FiDi

Developer eyeing 92 units and nearly 60K sf of commercial space

June 23, 2015 01:05PM
By Rey Mashayekhi

Joseph Moinian and 102 John Street in the Financial District

Joseph Moinian and 102 John Street in the Financial District

Joseph Moinian’s the Moinian Group is planning to erect a 28-story mixed-use residential building at 102 John Street in the Financial District, according to permits filed Tuesday with the city’s Department of Buildings.

An existing five-story building on the site, located between Gold and Pearl streets, will get a vertical enlargement, according to the filing. The proposed 336-foot-tall development will house 92 residential units across more than 140,000 square feet of space, as well as nearly 59,000 square feet of commercial space.

The project will feature a commercial gym on the mezzanine level, while the ground level will remain as retail and restaurant space and offices will occupy the third and fourth floors. The building will also get a new 44-car basement-level parking garage.

The filing did not specify whether the building will be a condo or rental project. Each of the development’s seventh through ninth floors will contain six apartments, while four apartments will occupy each of the 10th through 26th floors and three units on each of the 27th and 28th floors. The building’s sixth floor will house a recreation area.

The Moinian Group did not respond to requests for comment. Nobutaka Ashihara, the project’s architect of record, could not be reached for comment.

Moinian recently closed on a $361 million bond offering on the Tel Aviv Stock Exchange — the largest debt issuance in Israel to date by a U.S. real estate player.