What 100 Gold Street Is Today
The building has functioned as a Financial District office annex since the city bought it in 1993.
| Attribute | Value | Source type |
|---|---|---|
| Address | Corner of Gold & Frankfort Sts., Manhattan, NY 10038 | City/press |
| Current use | Government office building, not residential | NYCEDC |
| Year built | 1970 (assessor); “1960s”/”mid-1960s” (agency, press) | Assessor vs. press |
| Building size | 655,775 sq ft (assessor); 525,000 to 656,000 sq ft cited in press | Assessor vs. press |
| Stories | Nine in most 2025 coverage; ten in one account | Press |
| Lot size | 95,255 sq ft | PropertyShark |
| Zoning | C6-4 / R8 / LM (Special Lower Manhattan District) | City zoning |
| Occupants | HPD, Mayor’s Office, DOE, DCAS, DPR, GrowNYC, Office of Collective Bargaining; Hamilton-Madison House older-adult center | NYCEDC / press |
| Acquired | 1993 | Press (multiple, 2025) |
| Tax status | Assessed but exempt; $0 billed | PropertyShark |
Every field in this table describes a commercial parcel, from the office property class down to the $0 tax-exempt line.
Is 100 Gold Street currently available to rent or buy?No, it is a government office building. RentHop’s building profile lists standard rental amenities (doorman, elevator, fitness center) for this address, but its own parcel data in the same profile shows zero bedrooms and one commercial unit, a template error rather than a real vacancy.
Not the Same Building as Brooklyn’s 100 Gold Street
A second, unrelated 100 Gold Street exists in Brooklyn, NY 11201: a residential condominium in Vinegar Hill, built in 2009. It has no ownership, financing, or physical connection to the Manhattan office building or its redevelopment. Several sites that rank for this address, including a Compass listing and a CityRealty page, actually describe the Brooklyn building.
Is 100 Gold Street the same building as the one in Brooklyn?Two different buildings share the address string. The Manhattan property (10038) is the government office site being redeveloped by GFP; the Brooklyn property (11201) is an unrelated 2009-built condo with separate ownership and financing.
Why 100 Gold Street Is Being Torn Down
Bringing the building’s core systems into good repair would cost more than $230 million, according to a February 2025 city presentation reported by Propmodo: elevators, sprinklers, electrical work, windows, and ADA-compliant bathrooms. The Real Deal reported the same total broken down differently, $180 million in Department of Citywide Administrative Services estimates on top of $50 million the city had already allocated for elevator, sprinkler, and ADA work. 6sqft reported officials calling the building “unsuitable for conversion” as a result, and the March 2025 RFP directed developers to demolish rather than renovate.
Why is 100 Gold Street being torn down?Because the repair estimate (over $230 million) exceeded what officials judged worthwhile, and the current structure occupies only about half its permitted zoning density, leaving little upside in preserving it.
The Unit-Count Timeline
| Date | Announced figure | Event/source |
|---|---|---|
| March 2025 | “Over 1,000” units | RFP release (6sqft, The Real Deal) |
| Early 2025 | “Over 2,000” homes | Mayor Adams’s State of the City address (6sqft) |
| December 8 to 9, 2025 | ~3,700 units, at least 25% affordable | NYCEDC/Mayor’s Office announcement of GFP selection |
The figure nearly quadrupled between the RFP and the final selection, a jump officials tie to the city’s 2025 “City of Yes” zoning changes.
Roughly 3,700is the finished unit count announced in December 2025, with at least 25% designated permanently affordable, up from the “over 1,000” figure in the original March 2025 RFP.
Ownership, Tax, and Zoning
As a city-owned parcel, 100 Gold Street is assessed but not billed. PropertyShark’s records show its assessed value rising from $136.7 million in 2021/22 to $181.6 million in 2026/27, a two-point trend rather than a full annual series, while the property tax line stays $0.
| Project | Units | Status |
|---|---|---|
| 25 Water Street | 1,320 | Completed office-to-residential conversion; described by Commercial Observer as the largest such conversion in the US |
| 222 Broadway | 798 (planned) | Conversion plans filed with TPG Real Estate, August 2024 |
| 100 Gold Street | ~3,700 (planned) | Full demolition and new construction |
Does 100 Gold Street pay property tax?No, it is city-owned and tax-exempt, though its assessed value has climbed by roughly a third over the five years PropertyShark tracks.
The Developer Selection and a Donation Question
THE CITY reported that GFP’s CEO Jeffrey Gural, along with family members, gave a combined $45,000 to Empower NYC, a PAC backing Mayor Adams’s independent re-election bid, in the weeks after GFP submitted its RFP bid. Gural told the outlet, “I had nothing to do with this. My nephew handled the whole thing.” City Hall said the donations played no role in the selection. Adams ended his campaign roughly six weeks later.
In the same week as the 100 Gold announcement, a GFP joint venture with Metro Loft closed an $835 million debt package refinancing 25 Water Street.
What happens to the city agencies working there now?Proceeds from selling the site fund new office space for HPD and the other agencies now housed at 100 Gold, with a temporary leaseback period covering the relocation before demolition begins, per NYCEDC.
Location and Access
The site scores 99 on Walk Score, 100 on Transit Score, and 92 on Bike Score, per PropertyShark, reflecting its position near multiple subway lines and the Brooklyn Bridge pedestrian entrance.
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