Conversion of 51-Story One Wall Street Makes Headway As Work Progresses for The Financial District’s First Whole Foods

Historic photo of 1 Wall Street.Historic photo of 1 Wall Street.

One Wall Street is in the midst of a huge $1.5 billion makeover as the 51-story Art Deco gem is converted from office use into 566 residential units, topped with a triplex that may fetch $40 million. At street level, significant activity can be seen, as parts of the facade have been removed to make way for the retail section in the building that will bring a Whole Foods to the Financial District.

One Wall Street with the new Whole Foods soon to come along Broadway. Rendering by DBOX for Macklowe Properties

The conversion into a residential tower with a retail base is being led by Harry Macklowe of Macklowe Properties. Whole Foods will be taking up around 44,000 square feet of space on the lower floors, when complete. Two other retails spots are also available in the building. The conversion is being helmed by Robert A.M. Stern Architects in a collaboration with SLCE Architects.

The facade of One Wall Street partially removed at and above street level to make way for the Whole Foods set to come. Photo by Michael Young

Looking at the renderings, large panes of glass will protrude from the original facade, with access to Whole Foods on Broadway. Ceilings will be up to 22 feet high. Photos from the site last week show the original steel columns temporarily exposed in the cut-out stepped pattern for the new retail base.

The facade of One Wall Street partially removed at and above street level to make way for the Whole Foods set to come. Photo by Michael Young

The corner of One Wall Street at Broadway and Exchange Place. Photo by Michael Young

This will be the most noticeable change in appearance for the building at street level, along with the approved addition of the extra floors at the top of its southern half. The rest of One Wall Street will appear as it has for the past 87 years, just as Ralph Walker designed and visualized it to timelessly stand out amongst the Lower Manhattan skyline.

The top of One Wall Street where the triplex penthouse will be located. Photo by Michael Young

When completed, residents of the building and those living by Wall Street will have much easier access to Whole Foods, with the current closest store all the way in Tribeca at 111 Murray Street.

Completion of One Wall Street is expected sometime around 2020.

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Rent or sell? NYC owners are trying both

Double listings are increasingly popping up in Manhattan

October 02, 2018 05:17PM

(Credit: iStock)

To rent or to sell? That’s no longer really the question in New York City, where owners are increasingly listing their homes for both.

So far this year, through Sept. 1, the number of homes listed simultaneously for sale and for rent increased 51 percent to 1,087, according to a Bloomberg analysis of StreetEasy data. The median price for these properties clocked in at $1.395 million, which is 24 percent higher than what was seen last year for similar properties. The median asking rent for these homes ws $4,800, a 14 percent jump.

Most of these listings were in Manhattan. The W Downtown Hotel Residences had the most, with 22, followed by 88 Greenwich Street, with 10.

Sales have slowed in Manhattan as owners remain reluctant to go down in price. The number of residential sales in the third quarter of this year declined 11.3 percent over the same period last year, according to Douglas Elliman’s latest market report.

“People are still very ambitious and they have an idea of a price they want to get,” Grant Long, senior economist at StreetEasy, told Bloomberg. “They think ‘My apartment is perfect for that perfect person out there, and I’m going to find them, whether on the sales market or on the rental market.’” [Bloomberg] — Kathryn Brenzel