Permits & development · Owners & management · Deals & development · 10/19/2026
Up to 4,000 Apartments Proposed at 100 Gold St. in FiDi
The city Economic Development Corporation and developer GFP Real Estate plan to replace a city office building at 100 Gold St. in Lower Manhattan with two rental towers holding up to 4,000 apartments. Supporters call it a needed response to the housing crisis. A Community Board member called it 'density on steroids' at an Oct. 5 meeting.
Reported by The CityRead the original ↗
What happened
The city Economic Development Corporation (EDC) is teaming up with developer GFP Real Estate to demolish a Brutalist-style city office building at 100 Gold St. in Lower Manhattan and replace it with a very large residential development, The City reported on Oct. 19, 2026.
The plan calls for two towers joined at a podium base, with as many as 4,000 apartments in total. One tower would be about 115 stories and up to 1,250 feet tall. The other would be about 78 stories and up to 860 feet tall. For comparison, The City notes that the Empire State Building is 1,250 feet from ground to roof. Central Park Tower is 1,550 feet tall and has under 180 condos.
The City reports that buildings of this size in New York today are not filled only with rental apartments, and that the city's well-known supertall residential towers hold fewer apartments overall. City officials argue that the housing crisis calls for apartment buildings that rival office buildings in size.
The proposal came up at a Community Board meeting on Oct. 5. Board member Patrick Kennell called it "density on steroids." Howard Slatkin of the Citizens Housing and Planning Council called it "a paradigm shift." Brian Steinwurtzel, CEO and principal of GFP Development, argued that the project would look much like developments New Yorkers already know.
Key facts
- Address
- 100 Gold St., Lower Manhattan (Financial District)
- Current site
- A Brutalist-style city office building, to be demolished
- Units
- As many as 4,000 apartments across two towers
- Tower heights
- About 115 stories (up to 1,250 feet) and about 78 stories (up to 860 feet)
- Agency
- NYC Economic Development Corporation
- Developer
- GFP Real Estate
- Community Board meeting
- Oct. 5, 2026
- Reported
- The City, Oct. 19, 2026
What it means
Tenants and voucher holders
This is a proposal, not an open building. The report gives no rents, income limits, affordable-unit share or lottery dates, so there is nothing to apply for yet.
Caseworkers
Clients may hear about thousands of new apartments in FiDi. For now, the report does not say whether any units would be affordable or accept vouchers, so it is too early to plan placements around it.
Landlords
A project this size would add a large amount of rental supply in Lower Manhattan if it is built. The report gives no timeline, so any effect on nearby rents is speculative for now.
The highlights
- NYC EDC and GFP Real Estate would demolish a Brutalist city office building there.
- The plan calls for two towers on a shared podium, about 115 and 78 stories tall.
- The taller tower could reach 1,250 feet, the same as the Empire State Building.
Why it matters
A project this size could add a large supply of rentals to Lower Manhattan and test how dense new NYC housing can get.
Not known yet
- How many of the up to 4,000 units, if any, would be affordable, and at what income levels and rents
- Whether the apartments would be rentals, condos or a mix
- What public approvals are needed and when construction could start or finish
- What happens to the city offices now in 100 Gold St.
Background
Large developments on city-owned land in New York often go through public review. A common path is the Uniform Land Use Review Procedure (ULURP), which includes input from the local community board and borough president and votes by the City Planning Commission and City Council. When a new building includes income-restricted apartments, those units are usually filled through the city's Housing Connect lottery, with income limits tied to a percentage of Area Median Income.
Summary written by Bulwark from The City’s reporting. The original story is at thecityreporter.nyc. This is general information, not legal advice.
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