The Real Deal New York

Urban Muse files plans for FiDi resi development

Developer bought the site for $52 million late last year

July 22, 2015 12:00PM
By Claire Moses

34 Park Place and Glauco Lolli-Ghetti

34 Park Place and Glauco Lolli-Ghetti

Glauco Lolli-Ghetti’s Urban Muse envisions a 25-story residential development at 1 Beekman Street in the Financial District, according to a permit application filed with the city Wednesday.

Plans for the new 72,287-square-foot property — also known as 34 Park Row — call for 29 units divided among more than 58,000 square feet of residential space. The remaining 14,000 square feet will be reserved for commercial use.

SLCE is the architect of record.

Urban Muse purchased the development site for $52 million last December, after it had been in the same owner’s hands for more than four decades. The new residential building will replace two low-rise buildings that together total roughly 25,000 square feet. In 2013, the company purchased a former Salvation Army shelter at 347 Bowery for $19 million.

Lolli-Ghetti wasn’t immediately available for comment.