Lightstone Plans 48-Story Tower In Lower Manhattan

Law360, New York (May 3, 2013, 6:37 PM EDT) -- New York developer The Lightstone Group is planning a 48-story residential and commercial tower in lower Manhattan between Nassau and Dutch streets that will include 20 percent affordable housing, the company announced Wednesday.

Lightstone presented the plans to the local community board at a meeting earlier this week, just a few months after purchasing the property and air rights for several adjacent properties for about $63 million in total, according to property records.

The new development will require demolishing the five- and six-story buildings currently on...
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