# 115 Broad Street, Manhattan

Apartment building · 1,320 units · built 1969 · Block 5, Lot 10.

On Umarelli: https://umarelli.org/nyc/1000050010/25-water-street

More construction in Financial District: https://umarelli.org/nyc/manhattan/financial-district.md

## Building permits

- Alteration, filed Jun 29, 2026, described as “Facade inspection”
- Alteration, filed Dec 20, 2024, estimated cost $1K, described as “This application is filed for a Temporary Use Permit for a sales office including model apartments pursuant to section AC 28-111 and Buildings Bulletin 2010-002. Scope of work include the model units only; Sales office filed separately…”
- Alteration, filed Dec 6, 2024, described as “Installation of Suspended Scaffolding for Facade inspection/repair”
- Alteration, filed Nov 18, 2024, estimated cost $300, described as “Install non-illuminated sign on wall (25 water street)”
- No Work, filed Nov 15, 2024
- Alteration, filed Sep 24, 2024, estimated cost $1K, described as “This application is filed for a Temporary Use Permit for a sales office including model apartments pursuant to section AC 28-111 and Buildings Bulletin 2010-002.”
- Alteration, filed Jun 7, 2024, estimated cost $984K, described as “Installation of (6) six gas boilers”
- Alteration, filed May 28, 2024, described as “Suspended Scaffold for exterior restoration as shown on plans”
- Alteration, filed May 28, 2024, described as “Suspended Scaffold for exterior restoration as shown on plans”
- Alteration, filed May 13, 2024, described as “Installation of temporary supported scaffold per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Mar 28, 2024, described as “Installation of Suspended Scaffolding for Facade Work Or Inspection”
- Alteration, filed Nov 16, 2023, estimated cost $30K, described as “Existing building connection reinforcement for temporary construction loading, as per plans filed herewith.”
- Alteration, filed Jul 31, 2023, estimated cost $20K, described as “Cars c&d: dual 7250# capacity personnel/material hoists during bldg alteration filed sep. Hoists shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Elev appl sub to elev dept.”
- Alteration, filed Jul 31, 2023, estimated cost $10K, described as “Cars c&d: temporary hoist run-back structure during bldg alt, filed separately. Hoist run-back structure shall comply with ch #33 of the NYC bldg code. No change in use, occupancy or egress under this application. Hoist & elevator appl…”
- Alteration, filed Jul 19, 2023, estimated cost $2K, described as “Temporary shoring as per drawings. Shoring shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Jul 19, 2023, estimated cost $290K, described as “Facade demolition and support”
- Alteration, filed Jun 27, 2023, estimated cost $2K, described as “Temporary window protection at the adjacent property (125 broad street) during bldg alteration, filed sep. Window protection shed shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Jun 27, 2023, estimated cost $3K, described as “Temporary pipe scaffold as per drawings. Scaffold shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Jun 27, 2023, estimated cost $2K, described as “Temporary needle beam platform as per drawings. Needle beam platform shall serve as the base structure for pipe scaffolding & shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Pipe…”
- Alteration, filed Jun 11, 2023, estimated cost $1K, described as “Demolition of rooftop bulkhead and elevator machine room. Demolition means and methods provided under M08027664-S1. Mechanical demolition equipment filed under M08027664-S4. Temporary structural bracing filed separately.”
- Alteration, filed May 1, 2023, estimated cost $35K, described as “Installation of overhead protection at buildings 1st floor lobby and arcade as per plan and in accordance with Chapter 33 of NYC Building Code. No change in use, egress, or occupancy.”
- Alteration, filed Apr 27, 2023, estimated cost $100K, described as “Upgrade of lateral systems and existing columns. Additional structural bracing filed separately under M08027648.”
- Alteration, filed Apr 17, 2023, estimated cost $50K, described as “Temporary hoist run-back structure during bldg alteration, filed sep. Hoist run-back structure shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this appl. Hoist & elevator appl. Submitted sep.”
- Alteration, filed Mar 28, 2023, estimated cost $40K, described as “Removal of existing brick masonry, back-up wall, and existing windows along future hoist run. No change to egress, use, or occupancy.”
- Alteration, filed Mar 21, 2023, estimated cost $5K, described as “Masonry openings as per plans for future hoist installation. Hoist filed under separate application. Replacement of bricks by others at completion of project. No change in use, occupancy or egress under this application.”

16 more, older permits are in this building’s full list on the map: https://umarelli.org/nyc/1000050010/25-water-street.

## Property taxes

- Assessment: $130,493,250
- 2026–27 tax: $1,601,923
- Market value (city estimate): $289,985,000
- Taxable value: $12,878,230
- Assessed land: $20,880,000
- Assessed improvements: $109,613,250

## Tax breaks

- 467-m exemption, through Jun 30, 2061, about $14,417,307 a year below the full tax.

## Zoning

C5-5: floor area ratio 19.33 built, above the 15.00 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Dec 21, 2022: $250,806,808

Open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone AE, high risk: a 1% chance of flooding each year, base flood elevation 11 ft (NGVD29).

## Board and land use applications

- Appeal (Board of Standards and Appeals 2023-69-A): Appeal, Granted, filed Nov 13, 2023, decided May 6, 2024. Appeals filed pursuant to BSA Rule § 1-06.1(c) and N.Y.C. Charter § 666 in connection with the conversion of the existing commercial office building to residential use. Specifically, The development is seeking a waiver or modification of §…
- 25 Water Street Arcade Infill (City Planning 2023M0432): Certification, Completed, filed Oct 11, 2023, decided Apr 8, 2024. This is 25 Water Owner, LLC's private application for three Chair certifications that would facilitate horizontal enlargement within an arcade pursuant to ZR Section 91-83, design modifications to an existing POPS pursuant to ZR Section…
- Water Street POPS Upgrades Text Amendment (City Planning P2014M0256): Completed, decided Jun 27, 2016. Zoning text amendment to the Special Lower Manhattan District and related sections to allow the infill of arcades for retail use and upgrades to existing plazas.
- 4 NY PLAZA PARKING LOT (City Planning P2011M0060): Completed, decided Oct 15, 2015. 11DCP007M: SPECIAL PERMIT FOR THE DEVELOPMENT OF A 44-SPACE ACCESSORY P ARKING GARAGE ON THE GROUND FLOOR OF THE APPROX. 1.1 MILLION SF 4 NEW YORK PLAZA OFFICE BUILDING
- 4 NEW YORK PLAZA (City Planning P2011M0067): Completed, decided Apr 1, 2011. DESIGN CHANGES IN AN EXISTING URBAN PLAZA
- EXISTING PEDESTRIAN TUNNEL (City Planning P1988M1015): Completed. 88-227M: RENEWAL OF REVOCABLE CONSENT FOR OPERATION AND USE OF AN EXISTING PEDESTRIAN TUNNEL UNDERNEATH VIETNAM VETERAN'S PLAZA.
- VIETNAM VETERAN'S PEDESTRIAN TUNNEL (City Planning P1988M0201): Completed, decided Dec 1, 1988. RENEWAL OF CONSENT TO OPERATE & USE A PEDESTRIAN TUNNEL\*UNDERNEATH THE VETERAN'S PLAZA & CONNECTS TO THE ABOVE\*OFFICE BLDGS

## In the news

[Affordable Housing Lottery Launches for 25 Water Street in Manhattan’s Financial District](https://newyorkyimby.com/2025/03/affordable-housing-lottery-launches-for-25-water-street-in-manhattans-financial-district.html), New York YIMBY, Mar 8, 2025.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology