Fortis Buys Seaport Area Parcel for $64M

NEW YORK CITY-The developer is expected to build a mixed-use project spanning nearly 250,000 square feet of space.

By Rayna Katz | Updated on September 09, 2013

NEW YORK CITY-Just as the South Street Seaport renovation is getting underway, it appears that the waterside destination has some new competition.

Fortis Property Group has purchased 151-161 Maiden Lane—for $64 million or $257 per buildable-square-foot—a property that can become a mixed-use, 249,242 square foot building, with up to 138,468 square feet available for residential use and the remaining 110,774 square feet for commercial/hotel use or 249,242 square feet for full commercial/hotel use. Additionally, the site features two contiguous lots, has no height restrictions and allows for the construction of a single mixed-use tower or two individual developments.

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