A casual walk through Lower Manhattan shows what looks like a lively atmosphere and recently rejuvenated dining, shopping, and working scene. It’s not one’s imagination; according to Downtown Alliance’s Real Estate Year in Review, the area has welcomed the return of the Cortlandt Avenue subway stop, two new NYC ferry routes, 95 newly opened retailers, and over 700 new hotel rooms. The remarkable resurgence extends to the realm of residential as well: Over 1,300 residential units opened in six buildings, and 2,900 units in 19 buildings are in the pipeline.
The report cites luxury rentals 20 Broad Street and 19 Dutch as examples, but apartment sales have proven highly desirable as well. Leading the charge is One Wall Street, the largest office-to-condo conversion in the history of New York. Ralph Walker built it as the Irving Trust Company headquarters around 1930, and it is being converted to studio through four-bedroom condos with a $1.686 billion sellout and high-end finishes.
Over 100,000 square feet of amenities are said to include a winter garden, an enclosed pool, on-site parking, a children’s playroom, and a 39th-floor roof deck overlooking New York Harbor. Whole Foods will take 44,000 square feet of retail space in the base, and Life Time fitness center just signed a lease for 74,000 square feet of space for its second New York location.
Excitement has been buzzing ever since the conversion was announced, and now it’s official: Sales are set to launch this year, and the building is slated to open in 2020. As we wait for One Wall Street’s listings to appear, we explore others that have set new standards for the Financial District.