The Real Deal New York

Centaur and Cipriani tapped to complete Battery Maritime project

The redevelopment has been stalled since 2015
October 16, 2017 03:00PM

Battery Maritime Building

The New York City Economic Development Corporation has finally found a developer willing to take on the long stalled redevelopment of the Battery Maritime Building at 10 South Street.

Developer Centaur Properties and the high-end hospitality company Cipriani USA will take over the sublease from the Dermot Company, according to Politico.

Under Bloomberg, the EDC had selected Dermot to redevelop the historic building into a complex that would include a boutique hotel, a rooftop restaurant, specialty food stores, and public space. But since construction stalled as costs spiraled in 2015, the project went into hibernation.

Now, Centaur and Cipriani will modify and complete the plans.

Centaur is the developer behind the Jardim, a two-building condo complex in Chelsea at 525 West 27th Street – a building that garnered headlines due to an unusual private drive runs the length of the buildings.

Cipriani is, of course, the owner high-end restaurants and event spaces in Midtown and the Financial District. [Politico]Christopher Cameron