T.G. Nickel & Associates along with developer Urban Muse recently celebrated the groundbreaking of 1 Beekman Street. What was previously two commercial buildings housing an electronics store will soon be a 25-story, luxury condominium tower.

“This site is centrally located across from City Hall and near the Brooklyn Bridge in one of lower Manhattan’s most historic neighborhoods,” said Tom Nickel, President & Managing Partner of Nickel. “We’re excited about the opportunity to build a residential project in a neighborhood that continues to grow in popularity.”

At 25 stories, the project will reach 366 feet high and feature 30 units. Nearly 15,000 square feet of retail and commercial space will occupy the first five floors. Residences on the 6th and 21st floors will have private terraces and a covered exterior corridor will be located on the 22nd floor.

Construction is projected to take 24 months.