The Moinian Group has kicked off vertical construction at its 250-unit community in Manhattan’s Financial District. The developer is planning to complete 7 Platt Street in the fourth quarter of 2025. Moinian has tapped AECOM as the project’s general contractor. Rockwell Group and Hill West Architects have been brought on as designer and architect, respectively.
The property is being constructed under the 421-a program, under which the New York City Department of Housing Preservation & Development allows for partial tax exemption for new projects, while also guaranteeing its units are rent stabilized.
Once completed, the 35-story luxury community will offer studio, one- and two-bedroom units with penthouse options that offer an accompanying lounge area. The 170,000-square-foot residential tower will offer residents access to a fitness center, rock climbing wall, library, television screening wall, communal kitchen, laundry facilities, outdoor terraces, private dining spaces, lounge space and work and study pods. The property also has various outdoor amenities, including a rooftop sundeck, outdoor coworking space, golf putting space and dining areas.
Residents will be a short walk away from the neighborhood’s subway stations, including the Fulton Street, Broad Street and Wall Street stops. The community has nearby access to the Pier 11 Wall Street ferry stop for NYC Ferry routes.
Brooklyn project pipeline
While a majority of Moinian’s current development pipeline is comprised of New York City projects, the firm has developed properties in Miami, Dallas and Los Angeles. In 2021, Moinian completed the 43-story Bezel at Miami Worldcenter in downtown Miami.
The company is also working on a residential project at 1640 Flatbush Ave. in Brooklyn that will feature a rooftop terrace and a state-of-the-art fitness center. In November 2022, Moinian started construction on a Brooklyn adaptive reuse project alongside joint venture partner Bushburg, to transform The Empire State Dairy Co. building into a 320-unit mixed-income community.
