A completely redesigned plan has been unveiled for 65 Franklin Street, a proposed 28-story residential tower in Manhattan's Tribeca neighborhood. The 235-foot-tall building, designed by COOKFOX Architects with foundation work filed by Hamish Whitefield Architects, will be developed by Rabsky Group and will contain 89 condominium units across 214,000 square feet. The project will also feature ground-floor retail space and is alternatively addressed as 360 Broadway, situated at the southeast corner of Franklin Street and Broadway.
The new architectural design represents a dramatic shift from the previous proposal created by CetraRuddy. While the earlier version featured a cast iron-style metal and glass curtain wall, the updated design showcases the tower clad in warm tan brick. A rendering looking south along Broadway reveals the building's massing incorporates multiple setbacks throughout its height, including notable setbacks around the midpoint on the southern elevation and on the upper levels leading to a flat roof.
The building's fenestration consists of groupings of tall rectangular windows and distinctive arched openings on both the double-height ground floor and upper stories. This design approach creates a more contextual and residential character compared to the previous commercial-style glass facade.
The project has undergone significant ownership changes and complications since its inception. HAP Investments originally purchased the property for $46 million in February 2018, initially planning to construct a 19-story condominium building. However, demolition work on the existing low-rise buildings caused structural damage to the adjacent building at 358 Broadway. This damaged structure was subsequently demolished in 2023, and its footprint was incorporated into the expanded development site.
Rabsky Group acquired the enlarged site for approximately $57.6 million this past February and secured $92.8 million in financing from G4 Capital Partners to complete the ambitious project. The development will be conveniently located near multiple subway lines, with the closest stations being Canal Street, served by the 6, J, N, Q, R, W, and Z trains to the north.
Despite the design reveal, developers have not yet announced a revised construction timeline for the project. The tower represents a significant addition to Tribeca's evolving residential landscape, bringing nearly 90 new luxury condominium units to one of Manhattan's most sought-after neighborhoods.
