L + M Development Partners received the go-ahead to tear down four retail buildings in the Financial District, making way for a project that could be bigger than 200,000 square feet.
The city issued demolition permits Friday for the properties at 23-33 Park Row, according to Department of Buildings records. The developer first filed demolition applications for two of the buildings in September 2014 and then for the other two in June and August 2015.
L+M hasn’t filed official plans for redeveloping the site, but paired up with the owners of J&R Music and Computer World in April 2014 to redevelop part of the site. Representatives for L+M were not immediately available to discuss the plans for the property.
The four buildings, located at the corner of Beekman Street, have more than 200,000 buildable square feet in total.
Demolition on three of the buildings — 29, 31 and 23 Park Row — is slated to begin Wednesday. According to the permits, 33 Park Row was scheduled to be torn down on Monday.
An adjacent building at 1 Beekman Street owned by Glauco Lolli-Ghetti’s Urban Muse is also being torn down to make way for a 25-story residential building. Demolition permits were issued earlier this month at the site, which Urban Muse bought for $52 million in December 2014.
Source: The Real Deal