Permits & development · Deals & development · 10/19/2026
100 Gold St. plan: 4,000 FiDi apartments on site of HPD's office building
The city's Economic Development Corporation and GFP Real Estate propose replacing the nine-story city office building at 100 Gold St. with two towers holding about 4,000 apartments, roughly 1,000 of them permanently affordable and rent-stabilized. The building now houses HPD, other city agencies and a senior center. Environmental review is set to begin in March, with completion slated for 2037.
Reported by New York Post · Real EstateRead the original ↗
What happened
The city Economic Development Corporation (EDC) and developer GFP Real Estate are proposing to demolish a nine-story city office building at 100 Gold St. in Manhattan's Financial District. They would replace it with two towers joined by a podium base, holding up to 4,000 apartments. The City reported the plan first, and the New York Post followed, citing The City. The City describes the project as rental towers.
One tower would be about 115 stories and the other about 78 stories. The City reported they could rise as high as 1,250 feet and 860 feet. It noted the Empire State Building is 1,250 feet from ground to roof. About 1,000 of the apartments would be permanently affordable and rent-stabilized, according to the Post. The Post also said the project could bring in 8,080 residents, raising the Financial District's population by 10%.
The existing building houses HPD, other city agencies and a senior center. It needs expensive repairs, and the Post reported that sale proceeds would help relocate city workers elsewhere. The redevelopment began under Mayor Eric Adams, whose administration picked GFP. Mayor Zohran Mamdani aims to maximize housing on the site as part of a goal of 200,000 affordable units by 2036.
The plan is not final. It must go through environmental review, which the team aims to begin in March. If approved, the current building would be demolished in 2030, and the new development would be finished in 2037. At an Oct. 5 Community Board meeting, board member Patrick Kennell called the plan "density on steroids." GFP Development CEO Brian Steinwurtzel replied that many Financial District buildings are built to that density, mostly as office buildings.
Key facts
- Address
- 100 Gold St., Financial District, Manhattan
- Units
- Up to 4,000 apartments in two towers on a shared podium
- Affordable units
- About 1,000 permanently affordable, rent-stabilized apartments (per the Post)
- Heights
- About 115 and 78 stories; up to 1,250 and 860 feet (per The City)
- Developer and agency
- GFP Real Estate with the NYC Economic Development Corporation
- Current occupants
- HPD, other city agencies and a senior center
- Timeline
- Environmental review targeted to begin in March; demolition 2030 if approved; completion 2037
- Community Board meeting
- Oct. 5
What it means
Tenants and voucher holders
About 1,000 permanently affordable, rent-stabilized apartments are planned, but completion is not expected until 2037. There is nothing to apply for now, and rents and income limits have not been announced.
Caseworkers
HPD currently has offices at 100 Gold St. The plan calls for moving city workers elsewhere, but no new location or move date has been announced.
Landlords
This is a long-term project that still needs environmental review, with a target completion of 2037. It does not change rental supply in the Financial District in the near term.
The highlights
- About 1,000 units would be permanently affordable and rent-stabilized.
- Two towers of 78 and 115 stories would sit on a shared podium base.
- Environmental review aims to start in March; demolition 2030, completion 2037.
Why it matters
Adds about 1,000 rent-stabilized units years from now, and HPD's main office would eventually move out of 100 Gold St.
What to do: Watch for the environmental review, which the team aims to begin in March.
Not known yet
- Rents and income limits for the roughly 1,000 affordable units
- Where and when HPD and the other city agencies will relocate
- What will happen to the senior center in the building
- What approvals the project needs beyond environmental review, and the sale terms
Background
Affordable apartments in new NYC developments are usually rented through the city's Housing Connect lottery. Eligibility is based on household size and income, set as a percentage of Area Median Income. Large projects on city-owned land generally go through environmental review and public land-use review, including input from the local Community Board, before construction can start. Plans can change during that process.
Also drawn from: The Densest Apartment Building in the US Could Be Coming to FiDi (The City)
Summary written by Bulwark from New York Post · Real Estate’s reporting. The original story is at nypost.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0