The Real Deal New York

Construction underway for 12-story residential tower at 86 Canal Street

October 09, 2012 11:00AM

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Construction at 86 Canal Street

Construction has begun at a mixed-use project now called Canal Tower, at 86 Canal Street, in Chinatown, Bowery Boogie reported.

The site has filed plans with the Department of Buildings for a 12-story residential tower, and they’ve been approved, Bowery Boogie said. Signage indicated a December 2013 completion date, the site said, and the plans show 89 dwelling units with 900 square-feet earmarked for community use. The development will also include commercial space, but exacly how much and in what configurations was not known.

The current owner is the Queens-based Wing Fung Realty Group, Bowery Boogie said, which bought the stalled development from Baruch Singer for $16.5 million in 2010. Singer purchased the site for $20.5 million and demolished the existing building on the plot in 2007. [Bowery Boogie] – Guelda Voien

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