LCOR files commercial condo declaration at 25 Broad Street in FiDi

Investment fund LCOR through the entity 25 Broad Street L/Cal LLC as sponsor filed a commercial condominium declaration for its building at 25 Broad Street with 4 units in Financial District. The city approved the filing on October 16, 2018 and it was recorded on October 16, 2019.
LCOR filed this plan to convert the property into four condo units. Three of the units are retail and one is for the 308 residential units in the building. The last time the property sold was May 23, 2012, for $170,600,000.
LCOR in April 2018 filed plans to convert the building into residential condominium units for sale, and those plans were accepted by the NYS Attorney General in April 2019. Those plans have not been withdrawn, according to the state’s website.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on August 20, 2012.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $443,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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