TCO given for $20M conversion of the Battery Maritime Building to a mixed-use hotel

On June 15, the city’s Department of Buildings issued a temporary certificate of occupancy for a $20.4 million project to convert the landmarked Battery Maritime Building to a 58-unit, mixed-use hotel building with rooftop restaurant at 10 South Street in the Financial District. The project is led by Midtown Equities, which along with Centaur Properties controls a lease with the property owner, NYC Economic Development Corporation.

The plans, pre-filed on June 29, 2012, call for the increase in the size of the building to a 90-foot tall, 5-story, building with 58 units. The TCO was filed for on August 23, 2019.

The project is described in the filings as: renovation, conversion and enlargement of the existing Battery Maritime Building to a five-story, mixed-use hotel with a banquet hall. Architectural work; a new certificate of occupancy to be obtained. The initial cost as reported in the DOB filing for the work described in this permit application is $20,400,000.

The ground floor of the building, which had previously been used for the Governors Island Preservation and Education Corporation ferry terminal, was converted to a hotel and restaurant lobby, various offices, waiting room, and event center, according to the plans. The second story and mezzanine, which had also previously been used for the ferry terminal, was converted to a great hall and multiple concourses with an occupancy of 1,136 individuals. Additionally, there are meeting rooms, a kitchen, lounges, a spa, office space, gym, studio, and a cafe.

The new third and fourth stories each have hotel rooms, while the third floor will also have terraces and additional office space. The fifth story restaurant and bar is complete with multiple terraces, a kitchen, and serving room.

NYC first approved plans to redevelop the building in 2009, however legal and financial troubles caused a series of delays. In the late summer of 2018, Midtown Equities took a 30 percent stake in the project, allowing the development to resume with a projected completion date of sometime in 2020.

The original developer of the project was Dermot Company, which signed a 99-year lease in 2015 with the city. But after leaving the project having completed only roughly 60 percent of it, the lease was transferred to the new development team, which included Centaur Properties and Cipriani.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Direct link to C of O document.LINK

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