For generations, the Financial District went quiet the moment the closing bell rang. Not anymore. Some of downtown's best-known office towers are being reborn as residences, and FiDi's cobblestone lanes and waterfront piers now stay lively well into the evening. This month, we're taking a stroll downtown.
The Conversion Capital of New York
FiDi is the heart of the city's office-to-residential movement. 25 Water Street, the former 4 New York Plaza, now holds 1,320 apartments, making it the largest office-to-residential conversion in U.S. history. A few blocks away, 222 Broadway has reopened as Wrey, with 788 residences, five full floors of amenities, a rooftop pool and a 75-foot indoor lap pool.
The pipeline keeps growing. Just last week, the housing lottery opened for 162 income-restricted apartments at 77 Water Street (1 Gouverneur Lane), a 648-unit conversion (applications are due November 17). Work is also moving ahead on 382 apartments at 40 Exchange Place, the former New York Stock Exchange headquarters.
A Bigger Plan for Gold Street
In September, the city unveiled an expanded plan for 100 Gold Street, where a 1960s office building would give way to two towers with roughly 4,000 homes, about 1,000 of them permanently affordable or rent-stabilized. Formal land-use review is expected in 2027.
History Changing Hands
Even FiDi's landmarks are in motion. Earlier this month, 70 Broad Street, the early-1900s home of the American Bank Note Company, sold for $9.35 million after years of sitting largely vacant. It was listed for $88 million back in 2016. The buyer plans to reposition it, and we'll be watching. For buyers who love historic architecture, the Diamond Exchange at 14 Maiden Lane, an 1894 landmark of the diamond trade, now offers nine full-floor condominium residences.
Halloween by the Water
This Saturday, October 31, the South Street Seaport Museum hosts free Halloween festivities from 11 a.m. to 5 p.m.: a scavenger hunt aboard the 1885 tall ship Wavertree, crafts at Pier 16, a 2 p.m. costume parade and trick-or-treating around the Seaport from 3 to 5 p.m.
What Makes FiDi Stand Out
Excellent transit, with many subway lines and ferry service from Pier 11
East River esplanades, with The Battery a few blocks away
A growing mix of new rentals, condos and converted landmarks
Thinking About Downtown?
Whether you're curious about a new conversion or a classic prewar building, The Sapir Team knows the Financial District block by block. Reach out anytime. We'd love to show you around.
