Southbridge Towers

Southbridge Towers

Southbridge Towers is a private cooperative as of September 2015 and was completed in 1971. The complex is located in Lower Manhattan in New York City south of the entrance ramp to the Brooklyn Bridge and is bound by Pearl Street, Frankfort Street, Gold Street, and Fulton Street. It has 1,651 apartments in four 27 story tower blocks and five low-rise buildings.

Southbridge Towers, completed in 1971 on a site consisting of 331,577 square feet in Master Block #94 in the Borough of Manhattan, is a cooperative containing 1,651 dwelling units in one of the choicest New York City locations, adjoining the Civic and Financial Districts. It was part of the New York State Mitchell-Lama affordable housing program, which was instrumental in bringing middle-income residents to the downtown area. The development is divided into studios, 1,2, and 3-bedroom apartments in five six-story buildings and four 27-story high risers. With plans and specifications designed by Gruzen & Partners (architects, planners, engineers), it was originally constructed and sponsored by Tishman Realty and Construction Company at a cost of $29 million – a project which took over 10 years to complete – and thereafter was first managed by Sulzberger-Rolfe, Inc. Southbridge is now managed by the PRC Management Company.

In October 2005, the cooperative's board of directors voted to undertake a study that could cost up to $25,000 to explore privatization of the building complex.^[1]

In September 2014, the residents of Southbridge Towers voted to privatize under the Mitchell-Lama law and reconstitute as a private co-op.

On September 10, 2015, Southbridge Towers became a privatized cooperative.

See also

• Cooperative Village

References

1. Downtown Express, Oct. 28 - Nov. 3, 2005, "Southbridge Towers Votes to Study Going Private," http://www.downtownexpress.com/de_129/southbridgetowersvotes.html

External links

• Southbridge Towers

Coordinates: 40°42′34″N 74°00′12″W / 40.709572°N 74.00344°W