GFP Real Estate files plans for an $8M renovation of a building in Financial District

Brian Steinwurtzel of GFP Real Estate, on May 11, filed a permit application for an $8 million renovation of multiple floors of a building at 7 Hanover Square in Financial District. The building is being rebranded and will have two addresses, 50 Water Street for the lower floors and 100 Pearl Street for the higher floors.

The plans call for a renovation of floors 2, 3, 5, 15, 16 and 17 of the 353-foot tall, 26-story, building.

The project is described in the filings as: interior renovation on 2, 3, 5, 15-17 floors as indicated on attached plans. there is no change in egress, use or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $8,000,000.

NYC Health + Hospitals signed a 525,000-square-foot lease at 50 Water Street, it announced in January 2019.

The property was acquired for $310 million on October 3, 2019 by GFP, Northwind Group and TPG Real Estate Partners.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

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