Financial District

March 8, 2017

Kristen Visbal’s ‘Fearless Girl’ statue defies Wall Street’s bull to promote women in business

A post shared by Melanie Hunt (@melaniehunt1331) on Mar 7, 2017 at 4:50am PST Early Tuesday morning a bronze statue of a young girl in high tops, face defiant, hands firmly on her hips, was placed in front of the iconic charging bull statue in lower Manhattan’s Bowling Green park. The statue, created by artist Kristen Visbal, was installed by international asset management company State Street Global Advisors (SSGA) to bring attention to the need for more women on corporate boards–and for more female business leaders in general.
What's behind the girl

Events & Things To Do

February 27, 2017

Interactive 3D map of Lower Manhattan updates new developments daily

By Dana Schulz

Lower Manhattan is the nation's third-largest business district and in recent years its residential building stock--both conversions of historic structures and new developments--has exploded. To track this booming urban landscape, the Alliance for Downtown New York launched an interactive 3D map to serve as a "comprehensive visualization" of the area, tracking all current and future developments within the square mile below Chambers Street. In addition to residential, office, and hotel properties, LM3D also breaks down restaurants, retailers, transit, parks and open space, landmarks, and vacant land.
Learn more about the map

Uncategorized

February 1, 2017

The history of Little Syria and an immigrant community’s lasting legacy

By Dana Schulz

In the light of Donald Trump's ban on Syrian refugees, 6sqft decided to take a look back at Little Syria. From the late 1880s to the 1940s, the area directly south of the World Trade Center centered along Washington Street held the nation's first and largest Arabic settlement. The bustling community was full of Turkish coffee houses, pastry shops, smoking parlors, dry goods merchants, and silk stores, but the Immigration Act of 1924 (which put limits on the number of immigrants allowed to enter the U.S. from a given country and altogether banned Asians and Arabs) followed by the start of construction on the Brooklyn-Battery Tunnel in 1940, caused this rich enclave to disappear. And though few vestiges remain today, there's currently an exhibit on Little Syria at the Metropolitan College of New York, and the Department of Parks and Recreation is building a new park to commemorate the literary figures associated with the historic immigrant community.
The full history and details on the new developments

History

January 5, 2017

NYC documents dating back to 1674 will get a new home after gathering dust for centuries

By Michelle Cohen

While paper might be becoming a thing of the past, it's often the one thing that remains of our recorded history. And while it was often our sole means of recording that history, paper is among the most difficult media to preserve. To that end, New York City's painstakingly stacked, filed and boxed New York Supreme Court records, part of an immense collection of official documents dating back as far as 1674, are being moved from the archival homes they’ve occupied for, in some cases, centuries. The New York Times reports on a heroic effort by dedicated archivists to round up the these city records in order to preserve them for posterity and make them more accessible to researchers.
From early immigration papers to Aaron Burr's divorce

History

January 3, 2017

New renderings and details for Rafael Viñoly’s 125 Greenwich Street

By Dana Schulz

Construction at Rafael Viñoly’s slender skyscraper 125 Greenwich Street has reached street level, but as CityRealty uncovered, the tower that was slated to be taller than 1,000 feet over the summer (and previously 1,400 feet), is back down to 898 feet. Though this now makes it shorter than Fumihiko Maki’s 977-foot 4 World Trade Center one block north, fresh renderings show that the 88-story condo will still offer sweeping views of the city and harbor, which are shown for the first time from interior shots.
More views and details ahead

December 16, 2016

A horrifying blaze swept through Lower Manhattan 181 years ago today

By Emily Nonko

It's hard to envision blocks and blocks of Lower Manhattan being destroyed by a raging fire, but that's exactly what happened there 181 years ago to the day, December 16th, 1835. That year marks one of New York's most traumatic fires in history, known as the Great Fire of 1835. It came at a time the city was developing rapidly, with the arrival of new businesses, railroad terminals, and people. But there were also major concerns that came with the city's boom: there was a lack of a reliable water source for the city, and there were not enough fire departments to keep everyone safe. And so the forces collided into a traumatic fire that would change the course of New York's development significantly.
Keep reading for more

History

St. Nicholas National Shrine at the World Trade Center tops out with cross

Images st_nicholasshrine Instagram / WTC Progress Facebook

November 29, 2016

St. Nicholas National Shrine at the World Trade Center tops out with cross

By Diane Pham

It's been a long and arduous process rebuilding the St. Nicholas National Shrine, a Greek Orthodox Church that was destroyed on 9/11 when the second trade tower toppled on it. Only last year was the foundation poured, and only two weeks ago were the steel ribs of the structure's defining dome installed. But despite construction moving forward at a glacial pace, officials yesterday celebrated a major milestone with a “topping out ceremony” at the church's new site at Greenwich and Liberty streets. The touchstone event was notably marked by the addition of a temporary 6-foot-3-inch Justinian cross, reports the Times.
see more photos here

Architecture And Design

November 28, 2016

New renderings for COOKFOX’s 700-foot Financial District condo tower 25 Park Row

By Dana Schulz

Over the summer, L+M Development Partners demolished the former Financial District flagship of J&R Music and Computer World to make way for a 54-story, mixed-use condo tower at 25 Park Row, just across from City Hall Park in an area quickly becoming a more vibrant, 24-hour neighborhood. Site excavation is now well underway for the 700-foot building, reports CityRealty, […]

November 1, 2016

FiDi Birkinstock penthouse on the rental market for $20K, international antiquities included

By Michelle Cohen

This 3,500-square-foot penthouse atop the Setai Wall Street at 40 Broad Street in the Financial District is a stunning home by NYC standards, but the condominium also includes a world tour's worth of collected fixtures. The two-bedroom penthouse belongs to Alex Birkenstock–scion of the trendy-crunchy European sandal family–who bought the posh pad in 2011 for just under $6 million. An attempt was made in 2104 to sell the apartment for $13 million as 6sqft previously reported. But even after being eventually chopped to $9 million, the pad still doesn't appear to have changed hands. Now it's for rent for $19,995 a month, amazing spin-the-compass collections and all. For starters, there's a 1,000-pound steel and brass safe bought from the Bank of France...
Take the tour

October 24, 2016

Trinity Church reveals plans for $300M Pelli Clarke Pelli-designed tower to rise behind historic church

By Dana Schulz

Trinity Church Wall Street was built in 1846 by Richard Upjohn and is considered one of the first and best examples of Neo-Gothic architecture in the entire country. But behind its historic steeple, which made it the city's tallest building until 1890, will soon rise a modern, 26-story, mixed-use tower. The Wall Street Journal reports that Trinity has revealed its design for a Pelli Clarke Pelli-designed building, which will be linked to the church by a foot bridge over Trinity Place. The new 310,000-square-foot structure will house the Trinity Church Parish Center at its base, along with a cafe, gymnasium, flexible space for classrooms or art/music studios, and church offices. Above the Center, on floors 10 through 26, will be commercial office space
More details ahead

October 21, 2016

Renderings revealed for Gensler’s communal sky lobby at One World Trade Center

By Dana Schulz

Tenants at One World Trade Center who occupy floors above 65 are required to change elevators at the 64th floor. When the building opened its doors two summers ago, the Durst Organization noticed that these elevator banks became a natural mingling area, and so decided to forego plans to make the space into offices and instead keep it open as an open sky lobby. Commercial Observer got a first look at renderings of the commons designed by Gensler, whose principal and design director Tom Vecchione referred to it as "a shared piazza for the entire building." In addition to a cafe, it will offer a game room and a 180-person meeting room that can be split into two or host fitness and yoga classes.
More renderings and details ahead

Architecture And Design

October 11, 2016

Young singles make up 60 percent of lower Manhattan, but they’re spending their cash elsewhere

By Michelle Cohen

A report released Monday by the Downtown Alliance shows that the area south of Chambers Street in lower Manhattan is chock full of young New Yorkers with plenty of disposable income; the development advocacy group hopes the news will result in the creation of more options for them to spend it. Crains reports on the survey, which found that 60 percent of apartments in a growing residential sector that includes the Financial District, Battery Park City and the South Street Seaport are home to single tenants and roommates with no children, one of the highest concentrations of young singles–defined as 18- to 44-year-olds, in the city. This spendy demo hits the town every other night on average, blowing about $1,000 a month, adding up to $356 million a year. But according to the report, half of that is spent in other neighborhoods due to a lack of "appealing options" in the area.
Tap a keg, stat

City Living

October 10, 2016

New renderings revealed for Richard Rogers’ glassy ‘Pearl on the Park’ at One Beekman

By Michelle Cohen

CityRealty.com offers new renderings via Urban Muse that reveal architect Richard Rogers' 25-story mixed-use Financial District residential development, One Beekman at 1 Beekman Street. The 95,000-square-foot building, known as “Pearl on the Park,” the first New York City residential building for Rogers Stirk Harbour + Partners, will have a glassy facade and utilize a glazing system at its base that lends a greater transparency to the building's lobby and street-level retail establishments. Included will be three commercial units of about 4,500 square feet each and one retail unit of approximately 3,200 square feet.
See the renderings

New Developments

October 3, 2016

Flood regulations may thwart plan to convert Lower Manhattan public spaces to retail

By Dana Schulz

When plans surfaced last March for a rezoning of the Financial District that would allow property owners to bring in retail tenants to the underutilized public plazas and walkways at the base of their buildings, it was met with mixed reviews. While some felt it would increase foot traffic and create a more vibrant street presence, others thoughts it would result in a loss of public space, but a gain for developers. These concerns may be a moot point, however, as Crain's brings news today that the plan could be "upended by federal flood regulations being applied to more areas of the city since Superstorm Sandy."
What's the deal?

September 16, 2016

Skyline blights: New York’s ugliest building finally gets its glassy update

By Diane Pham

The former Verizon Building at 375 Pearl Street has long been considered one of New York City's ugliest buildings. The oppressive structure was erected in 1975 and climbs 540 feet into the sky. While the height is almost negligible compared to some of the supertalls rising today, the tower's prime skyline positioning amongst some of the world's most celebrated architectural creations has done nothing to help shroud its banal facade. In fact, when the telephone switching center opened its doors for the first time more than 40 years ago, New York Times architecture critic Paul Goldberger described it as the Verizon's "most disturbing" addition to the city (though in defense of the architects Rose, Beaton & Rose, it was built to withstand severe weather and attacks and protect the critical telecommunications infrastructure within). But all of that is changing now, as the building's fortress-like facade is in the midst of receiving a long due makeover.
More photos of the progress that's been made here

September 16, 2016

One World Trade Center not for sale after all (at least not yet)

By Dana Schulz

Last week, 6sqft reported that the Port Authority would sell One World Trade Center for up to $5 billion due in part to vacancy issues and the fact that the tower only brought in $13 million in revenue last year, a mere 0.35 percent return on the agency's investment. But Authority chairman John Degnan said yesterday to Politico that "It’s certainly not on the block. We’re not talking to any brokers about it." This doesn't however, mean that the agency has changed its stance that it will one day "divest and monetize in non-transportation-related holdings."
Find out more

Uncategorized

September 14, 2016

Interview: Time Equities’ Francis Greenburger, a Renaissance man in NYC

By 6sqft

Francis Greenburger is the definition of a Renaissance man. Beyond running the full-service real estate firm Time Equities, Inc., he also helms the Greenburger Center for Social and Criminal Justice, he serves as Chairman of the literary agency Sanford J. Greenburger Associates, Inc., and he is also deeply involved with the OMI International Arts Center—and this is on top of the numerous non-profits […]

September 8, 2016

REVEALED: World Trade Center Performing Arts Center will be a translucent marble cube

By Dana Schulz

After stalling for years, the $243 million World Trade Center Performing Arts Center started to make headway in recent months, first with a decision to go with REX as the designers and then with a $75 million gift from Billionaire businessman and philanthropist Ronald O. Perelman (who is gaining naming rights). And finally, the official renderings have been revealed, and they showcase a nearly 90,000-square-foot, translucent veined marble cube that both stands out as an impressive piece of cultural architecture and co-exists with the other structures on the WTC complex such as the 9/11 Museum and transportation hub. According to a press release from developer Silverstein Properties, "The Perelman Center is inspired by the Center’s mission to defy experiential expectations. Its design cues were taken from [an] aim to foster artistic risk, incubate original productions, provide unparalleled flexibility, and deliver the most technologically advanced and digitally connected spaces for creative performance."
See all the renderings

September 6, 2016

Port Authority plans to sell One World Trade Center for up to $5B

By Dana Schulz

It's been almost two years since Condé Nast's 3,400 employees moved into One World Trade Center. At the time, only 58 percent of its 3 million square feet of space was leased, but the hope was that the media company's presence and perceived confidence in the $3.8 billion tower would attract more tenants. This didn't quite pan out, as it's still one third empty, and the Port Authority continues to drop $3 million a month to cover Condé Nast's old lease (this amounted to $47.6 million in 2015 alone). Due to these issues, along with the fact that the tower only brought in $13 million in revenue last year-- a mere 0.35 percent return on its investment--the cash-strapped Port Authority has made plans to sell One World Trade Center for as much as $5 billion. As Crain's notes, this would be the highest price ever paid for an office building in the country.
More details ahead

Uncategorized

August 29, 2016

$2.3M Financial District pad has been completely remodeled into an open-concept loft

By Emily Nonko

This three-bedroom, two-bathroom apartment at the Financial District condo 54 Pine Street has been totally remodeled into an open-concept loft. The owners moved the kitchen (and then outfitted it with new appliances) to create the third bedroom/office space. The open kitchen now looks out onto a long, open living and dining room that's anchored by exposed brick and arched ceilings. The entire apartment, in fact, boasts lots of lofty details, and it's now on the market for $2.285 million.
Take a look around

Distinctive Homes

August 12, 2016

Triarch Uses Lipstick Hues and Gallery Walls to Meld Two Downtown Apartments

By Michelle Cohen

At this Beekman Street residence, two small apartments had been combined into one large one by a previous owner. Architecture and design firm Triarch reworked the floor plan to better connect the apartment's series of separate rooms. The end result combines candy-coated pops of pink, red and purple, eye-popping art and contemporary finishes to make the home feel playful and creative, as well as livable.
See more of the interiors this way

Friday Five: 5 Upscale Manhattan Buildings Offering Free Rent and Gift Cards

Every Friday 6sqft is rounding up five of the best rental deals showcased on CityRealty’s newly launched no-fee rentals page, a space where house hunters can find the best concessions being offered by landlords across the city.

July 15, 2016

Friday Five: 5 Upscale Manhattan Buildings Offering Free Rent and Gift Cards

By Annie Doge

A new week means a slew of new rental deals being offered across the city. Today we're focusing on upscale rentals in Manhattan, scanning the island from top to bottom, from the Upper East Side to FiDi, for the most generous of rental concessions. Standouts ahead include one month’s free rent and a $1,000 MasterCard gift card at a Robert A.M. Stern-designed Tribeca tower, and two months of free rent on beautiful new rentals in Yorkville.
5 of the Best deals here

Uncategorized

World Trade Center Performing Arts Complex Gets $75M Gift From Billionaire Ronald Perelman

Image pointing to the site of the Performing Arts Center at the World Trade Center. Rendering by DBOX

June 30, 2016

World Trade Center Performing Arts Complex Gets $75M Gift From Billionaire Ronald Perelman

By Dana Schulz

Billionaire businessman and philanthropist Ronald O. Perelman has made a $75 million gift towards the Performing Arts Center at the World Trade Center (PACWTC) reports the New York Times. The donation will finally make one of the last unfinished projects at the site a reality, and the Center will therefore be named for Perelman. "I think that this is a project that must happen. It is more than just a pure artistic center to serve a community. It is that, but at the same time it’s much more than that," he said. This is not Perelman's first time donating to the World Trade Center site. Under the Bloomberg administration he gave $5 million for the National September 11 Memorial and Museum and said then that he was interested in making the lead gift for a performing arts center at the site.
Find out more this way

Real Estate Trends

June 29, 2016

25 Feet Above Street Level, World Trade Center’s Liberty Park Opens Today

By Michelle Cohen

The World Trade Center's Liberty Park, the new one-acre public park at 25 feet above ground level spanning Liberty Street between West and Greenwich Streets, opens today. NYYimby reports that the park is getting the last few finishing touches in preparation for its grand opening dedication ceremony. As part of the landscape design by Joseph E. Brown of architectural and engineering firm Aecom, a 300-foot-long "living wall" composed of 826 panels of varying plant types is a highlight of the new park, which also functions as a pleasant disguise for the entrance to the WTC’s security hub that sits beneath.
More of what you'll find in the new park

June 27, 2016

New Renderings Show Supertall Status for Rafael Viñoly’s 125 Greenwich Street

By Michelle Cohen

The new mixed-use tower to rise at 125 Greenwich Street will indeed be adding another supertall to the Financial District’s skyline. New renderings confirm a final height exceeding 1,000 feet, inching the tower above the the 977-foot 4 World Trade Center nearby at 150 Greenwich Street, according to YIMBY. 6sqft previously reported on the progress of the slender tower-to-be, designed by Rafael Viñoly Architects and developed by a joint venture comprised of Michael Shvo, Bizzi + Partners Development, and Howard Lorber’s Vector Group that will offer a limited collection of condominium residences with unparalleled views of the lower Manhattan skyline and beyond.
Check out the new renderings

New Developments

June 27, 2016

Financial District Loft Rental Comes With Its Own 800-Square-Foot Patio

By Emily Nonko

Located in the Financial District, just one block from the South Street Seaport, is this 1,800-square-foot pre-war duplex with a very cool private patio. The building at 324 Pearl Street was built in 1888 as a warehouse, so the apartment now boasts 14-foot ceilings, exposed brick and lots of open space. Even the patio has a lofty vibe, surrounded by greenery against more brick. Although this is a condo, you can now rent it for $6,495 a month.
See the entire pad

June 22, 2016

City Will Allow Landlords to Convert Lower Manhattan Public Spaces to Retail

By Michelle Cohen

6sqft recently covered the controversial proposal by the Alliance for Downtown New York (ADNY), the Department of City Planning (DCP), and the New York City Economic Development Corporation (EDC), to change zoning laws to allow property owners in the Water Street Subdistrict of lower Manhattan–at One New York Plaza, for example–to bring in retail tenants like restaurants and clothing stores in exchange for making improvements and upgrades to the public plazas and arcades adjacent to their buildings. Crains reports that the City Council passed a bill Tuesday that would allow the Financial District landlords to convert the public corridors in front of 20 buildings in the Water Street corridor to retail shops. The public corridors, which cover ten blocks, were created when the Water Street buildings that abut them were built. Building developers agreed to create the public arcades and walkways in exchange for more buildable square footage.
Read more

Financial District

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