NYC Selects GFP to Convert 100 Gold Street Into 3,700 Mixed-Income Homes

Overview

• NYCEDC chose GFP Real Estate to redevelop the city-owned building into approximately 3,700 apartments, with at least 25% permanently affordable.
• The proposal includes about 40,000 square feet of new public open space, a publicly accessible fitness center, and a new purpose-built facility for Hamilton-Madison House with a temporary site during construction.
• Proceeds from the site’s disposition would fund new office space for HPD and other tenants now at 100 Gold Street, with relocations possible in 2029 per a prior EDC presentation.
• The project must undergo environmental and land-use reviews, with formal land-use actions expected in 2027 and continued community engagement before construction.
• EDC has not disclosed financial terms of the deal, and reporting highlights $45,000 in Gural family donations to a pro-Adams PAC during bidding, while about 900 units are slated to be affordable without HPD subsidy, drawing concerns about shallow affordability.