The office-to-residential conversion of 100 Gold Street in Manhattan\u2019s Financial District is looking to be bigger than expected.<\/p>\n
Mayor Zohran Mamdani and GFP Development<\/a> announced Tuesday that the public review process for the conversion project is underway and that it will have 4,000 housing units instead of the original 3,700 unveiled in December 2025<\/a>.<\/p>\n SEE ALSO: Corcoran Sunshine Marketing Group\u2019s Kelly Kennedy Mack Can\u2019t Slow Down<\/a><\/p>\n The project is expected to deliver twice as many affordable units \u2014 1,000 in all \u2014 as have been produced within the bounds of Manhattan\u2019s Community Board 1 in the last decade, according to the Mamdani administration.<\/p>\n \u201cThis critical project will replace an outdated office building in prime Lower Manhattan with a thoughtful mixed-use mixed-income development, representing the single largest infusion of new affordable housing in the area in decades,\u201d Brian Steinwurtzel, CEO and principal of GFP Development, said in a statement.<\/p>\n GFP Development, which spun out from GFP Real Estate<\/a> earlier this year<\/a>, will handle the project. In addition to housing, the firm will also build a new facility for older adult services nonprofit Hamilton-Madison House, a 40,000-square-foot community fitness center, and an equal amount of public realm improvements.<\/p>\n The 100 Gold Street redevelopment predates the Mamdani administration, which is keeping the project rolling after former Mayor Eric Adams put forth the plan in his January 2025 State of the City address<\/a>.<\/p>\n However, Mamdani\u2019s Land Inventory Fast Track Task Force, created under the \u201cBlock-by-Block\u201d housing plan<\/a> launched on his first day in office, may be speeding up the process as the development sits on city-owned land.<\/p>\n \u201cThe redevelopment of 100 Gold will be a major step forward in creating the housing New Yorkers need \u2014 including permanently affordable, rent-stabilized homes \u2014 in addition to new community space, at no cost to the city,\u201d Leila Bozorg, deputy mayor for housing and planning, said in a statement.<\/p>\n