125 Greenwich Street aka 22 Thames Street and DOB Stop Work Orders

125 Greenwich Street
125 Greenwich Street

A charming piece of prewar history gave its life for yet another monolithic glass residential box. Owner VS 125 LLC is making headway on its 72 story skyscraper, as construction has moved past the fourth floor and construction crews prepare work on the 5th floor. Only 67 stories to go!

However, a stop work order issued on November 7th is going to stop any vertical progress for the near term. The order, issued by the DOB, cites unsafe crane operation: “FAILURE TO SAFEGUARD, WHILE PERFORMING A LIFT MOBILE CRANE CAME IN CONTACT WITH TOWER CRANE HITTING THE JIB CAUSING DAMAGE TO THE WIND METER.”

At the time of our visit to the site on November 9, we found the site busy with workers, but the cranes appeared quiet. A separate┬áDOB stop work order issued on October 26, 2017, was rescinded on November 8th. Let’s go over the stats:

  • Floors: 72 as per site photo.
  • DOB records show the building permits to construct this behemoth were approved by DOB (Department of Buildings) on September 27, 2016.
  • The latest property tax bill (August 25, 2017) do no indicate any affordable housing scheme.
  • VS 125 LLC purchased the property in for $183,940,000, according to ACRIS. But there’s no hint of affordability!

Because the property is so nascent, there’s always the possibility a regulatory agreement or tax incentive could attach some point in the future, but we’re not holding out breaths.


A more modest 10 story structure is lost to history.

125 Greenwich Street
125 Greenwich Street

125 Greenwich Street
125 Greenwich Street

 

125 Greenwich Street
125 Greenwich Street
125 Greenwich Street
125 Greenwich Street
125 Greenwich Street
125 Greenwich Street

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