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The vacant, 1.2 million square-foot 111 Wall Street tower, rising at the corner of South Street, faces a foreclosure action by mezzanine lender Oaktree Capital Management.
NEW YORK — The latest luxury tower to rise in New York could distinguish itself not for its sky-high views but for its residents: survivors of 9/11, and some of the lowest-income renters in the city. On Thursday, a state oversight board cleared the way for a 900-foot mixed-use tower to be built at 130 Liberty St., also known as 5 World Trade, the only site on the World Trade Center campus that is expected to be residential. It took two decades of political wrangling. But the real feat, spurred b
The tower will include 1,200 new apartments, with roughly 400 units going to low-and moderate-income New Yorkers — 80 of which will be set aside for 9/11 survivors and first responders.
The 400 income-restricted units at 5WTC, the only residential project planned for the World Trade Center site, mark an increase from prior proposals but fall short of the 100 percent affordability some advocates had sought.
A deal to build the city’s newest residential skyscraper includes an unusually high number of apartments for low-income renters, plus some set aside for survivors of 9/11.