NEW YORK CITY—Madison Equities and and Italian builder Impresa Pizzarotti & C. Spa have acquired the vacant parcel at 45 Broad St. and plan to build a condominium tower at the site.

The partners purchased the site from 45 Broad Street L/CAL LLC for $86 million. Located near the New York Stock Exchange, the vacant site offers approximately 290,000 square feet of FAR for development. Madison Equities and Pizzarotti plan a condominium tower constructed atop of what they term will be “an amenity-filled podium.” The developers will deliver condominium units for occupancy in 2019.

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