One Wall Street, which claims to be the largest office-to-condo conversion project in New York City’s history, should be ready to start accepting purchase offers for its homes this fall for its opening in 2020.
In 2014, Macklowe Properties paid $585 million to acquire this 50-story, 1.1-million-sf Art Deco tower in New York’s Financial District, which had been built in the early 1930s for the Irving Trust Company, and expanded in 1963. When its renovation is completed, One Wall Street will offer 566 residences (whose selling prices are expected to average $3 million, according to various news reports), and more than 100,000 sf of amenities that include an enclosed pool on floors 35 and 36, and a 39th-floor roof deck overlooking New York harbor.
Forty-seven apartments will have their own private terraces.
To free up more space, the Building Team moved the stairwell to the center of the building, and reduced the number of elevators to 10, form 34. Image: Courtesy of Macklowe Properties
Joseph Bosco, Macklowe’s senior project manager, who has been on the renovation since 2015, tells BD+C that this industrial, steel-framed building was not especially conducive to residential conversion. For one thing, it had 34 passenger elevators that Bosco says took up a tremendous amount of space. The renovation reduced that elevator count to 10, and moved the building’s stairwell from the interior periphery to the center of the building. “The stairs are now aligned with the elevator core,” he says.
One Wall Street is actually two buildings: a 52-story tower that opened in 1931, and a 30-story tower that debuted in 1964. Bosco explains that the latter building is more of an annex, and its connection with the taller tower is “seamless.” The annex is getting a six-story addition at the top as part of the reno.
One hundred tweny seven of the residential units will be studios in the 500-sf range, says Bosco. The rest of the homes will be one-, two-, and three-bedroom apartments in the 1,500- and 2,000-ft range at the higher levels of the tower. There will also be a 12,000-sf triplex penthouse, the price for which Bosco couldn’t say when interviewed.
Up until 2017, Macklowe had intended that 65% of the residential units would be rentals. It switched gears to for-sale units exclusively, partly in response to the glut of luxury rentals and condos on the market.
The developer got permission from the city’s Landmarks Commission to replace the windows in the building. And it also spent 16 months and $1 million restoring a 9,000-sf lobby mosaic installation known as the Red Room, created by artisan Hildreth Meière.
To accommodate ground-floor retail that will include a three-story 44,000-sf Whole Foods grocery, the building team created a glass curtainwall at the building’s base. Macklowe’s team includes SLCE Architects (architect and AOR), Cosentini (ME), DeSimone Consulting Engineers (SE), and JT Magen (GC).
The website CityRealty reports that Macklowe Properties’ sellout price for One Wall Street is now $1.686 billion, up from than earlier price of $1.5 billion.
Related Stories
| Jul 18, 2014
Top Engineering Firms [2014 Giants 300 Report]
Fluor, Arup, Day & Zimmermann top Building Design+Construction's 2014 ranking of the largest engineering firms in the United States.
| Jul 18, 2014
Top Architecture Firms [2014 Giants 300 Report]
Gensler, Perkins+Will, NBBJ top Building Design+Construction's 2014 ranking of the largest architecture firms in the United States.
| Jul 18, 2014
2014 Giants 300 Report
Building Design+Construction magazine's annual ranking the nation's largest architecture, engineering, and construction firms in the U.S.
| Jul 17, 2014
A harmful trade-off many U.S. green buildings make
The Urban Green Council addresses a concern that many "green" buildings in the U.S. have: poor insulation.
| Jul 17, 2014
A high-rise with outdoor, vertical community space? It's possible! [slideshow]
Danish design firm C.F. Møller has developed a novel way to increase community space without compromising privacy or indoor space.
| Jul 11, 2014
First look: Jeanne Gang reinterprets San Francisco Bay windows in new skyscraper scheme
Chicago architect Jeanne Gang has designed a 40-story residential building in San Francisco that is inspired by the city's omnipresent bay windows.
| Jul 10, 2014
Unique design of Toronto's townhome The Tree House
Plans for a new Toronto townhome brings cutting-edge design.
| Jul 7, 2014
7 emerging design trends in brick buildings
From wild architectural shapes to unique color blends and pattern arrangements, these projects demonstrate the design possibilities of brick.
| Jul 7, 2014
A climate-controlled city is Dubai's newest colossal project
To add to Dubai's already impressive portfolio of world's tallest tower and world's largest natural flower garden, Dubai Holding has plans to build the world's largest climate-controlled city.
| Jul 3, 2014
Gehry edits Canadian skyscraper plan to be 'more Toronto'
After being criticized for the original tower complex, architect Frank Gehry unveils a new design that is more subtle, and "more Toronto."