A Miami real estate developer paid $89 million for the lot and plans to erect a 50 story affordable housing tower on the financial district site near the WTC–but first needs to clear the brownfield site of pollutants left behind by past commercial occupants. That work is just getting underway.

Kay Bontempo, Our Town (Downtown New York City)

A new 50-story, 400-unit affordable housing development is a step closer to reality now that the cleanup of a brownfield site has begun with plans to wrap it up before the end of the year.

The contaminated brownfield site of the former Kasser Scrap Metal and Rector Cleaners is finally being cleaned up. The location at 111-121 Washington Street, (a.k.a. 8 Carlisle Street), is located two blocks north of the World Trade Center and comprises a 11,255-square-foot vacant lot (just over a quarter-acre.) The developer Carlisle New York Apartments, LLC, purchased the lot in 2021 for $89 million from the Ohebshalom family, which was involved in a bitter family feud pitting father against son that ultimately was resolved with the son buying out the father’s stake.

The Miami-based developer plans to start construction on the quarter acre plot once the cleanup is completed, expected in seven to eight months.

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For the entire article, see

https://www.otdowntown.com/news/new-50-story-affordable-housing-tower-to-rise-after-brownfield-cleanup-ends-BH2458254

Posted April 3, 2023