75 Wall Street

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75 Wall Street, New York City, NY

75 Wall Street
75WallStreetNYC.jpg

75 Wall Street in the Financial District of Lower Manhattan
Building Information
Developer Hakimian Organization and Peykar Brothers Realty
Architect Welton Becket Associates
Management Company Cooper Square Realty
Number of Units 350
Number of Floors 36
Year Built 1987
Construction Method Concrete
Type of Roof IRMA
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75 Wall Street, New York City, NY
Distance to Public Transit Less than one block
Region New York City
Municipality New York City
Zoning C5 - 5
Title of Land Condominium


Contents

Background

Located within the Financial District neighborhood, 75 Wall Street is a luxury condominium building that was converted from office space in 2008. With 350 apartments sitting atop a 250 room hotel, residents of this building have access to all of the luxurious amenities that come with both apartment and hotel living.

Additionally, 75 Wall Street offers residents a chance to live in one of New York City’s fastest growing neighborhoods. With a population that has more than doubled in the past ten years, the Financial District has seen a boom of both tourism and commercial interest, making this area one of New York’s most mixed and eclectic neighborhoods.

Location

Standing on the corner of Wall Street and Water Street, 75 Wall Street sits in the heart of the Financial District in Downtown Manhattan. This neighborhood is known for its history in the American financial economy, and it is home to many of the United States’ biggest banks and institutions, such as Goldman Sachs, Deutsche Bank, the New York Stock Exchange, and the Federal Reserve Bank of New York. In the past ten years, the residential population of the Financial District has more than doubled from approximately 20,000, to over 56,000 residents.

With the influx of permanent residents, the neighborhood has seen a diversification in the companies moving into the area, such as media and publishing, as well as several tech companies. Additionally, the area has seen a boost in tourism with several of its popular tourist destinations, such as the New York City Police Museum, the Museum of American Finance, and the National September 11 Memorial and Museum.[1]

With a walk score and transit score of 100 out of 100, residents of 75 Wall Street do not require a car to complete their daily errands, as they are close to an abundance of food, shopping, home services, and transit options. With a bike score of 81 out 100, cyclists will love the availability of bike lanes and the flat grades.[2]

Construction

75 Wall Street was originally built in 1987, and was used as office space for nearly a decade by such organizations as Dresdner Kleinwort Wasserstein and the Fireman’s Fund Insurance Company. In 2004, JP Morgan Chase purchased the building from Barclays Bank and bought out the remaining leases with the building’s biggest tenants. In 2005, JP Morgan Chase sold the building to developers, The Hakimian Organization and Peykar Brothers Realty, for a reported $185 million and plans were put in place to convert the building into a resident condominium.

Construction on the conversion began in 2008 and was completed in 2009. While Welton Becket Associates were the original architects of the building when it was built in 1987, the architectural firm of Schuman Lichtenstein Claman & Efron oversaw the design of the conversion, with award winning Rockwell Group carrying out the design of the interiors and the public spaces of the residences and the hotel.[3]

Layout and Features

75 Wall Street is a 36 storey red brick building with a granite base that is designed in the modernist style of architecture with a facade that sports applied masonry. When originally built, this building was noted for its public arcade and the mid-block plaza that features a large arched entrance and a waterfall.

There are no balconies on the exterior of this building, as the floors rise up dramatically from the sidewalk, but the upper floors of the building do have several setbacks, allowing for rooftop terraces. After the conversion was complete, the building houses 250 hotel rooms in the first 12 floors, with 350 apartments in the upper 24 floors.[4]

Apartments at 75 Wall Street range in size from studios to penthouse suites, and have 10 foot high ceilings, oak hardwood flooring, and custom built overhead storage spaces. As this building is one of the more prominent in the area, most apartments also enjoy stunning views of Downtown Manhattan and the water.

The kitchens are outfitted with a variety of appliances, including those from Bosch, GE, Liebherr, Miele, and Sub Zero, as well as wooden cabinetry, Mont Blanc Agglomerate stone counters, and glass tiled back splash. The bathrooms are equally luxurious, featuring duel sinks, glass showers, marble finishes, large soaking tubs, and stainless steel fixtures.[5]

Floor Plans

With over 250 floor plans available, a selection is presented.

Amenities

Residences of 75 Wall Street have membership to Club 75, which gives them access to a variety of services, both within the condominiums and the hotel.

Condominium Services include:

  • 24 hour concierge and doorman
  • Refrigerated storage for grocery delivery
  • Parking facilities
  • Bicycle storage room
  • Laundry room

Hotel Services, provided by Andaz, include:

  • 24 hour room service
  • Maid service
  • Valet parking and laundry services
  • Butler service
  • Wake-up calls

Additionally, Club 75 members have access to the following amenities, mostly located on the 18th floor:

  • Cardio equipment
  • Weight training facilities
  • Yoga/dance studio
  • Massage room
  • Resident Club-room featuring a catering kitchen, billiards, espresso bar, and plasma TVs
  • Multimedia screening room with wrap around sofas
  • Rooftop deck and solarium[6]

Bylaws

75 Wall Street Bylaws
Rentals Yes
Pets Yes
Age No


This building allows:

  • Pets
  • Rentals
  • Pied-a-terre
  • Sublets.

There are no age restrictions for this building.[7]

Sustainability

75 Wall Street has not been designated as a green building, meaning that to date, this building does not hold any LEED certifications.

Residents who wish to help improve the building’s overall sustainability may do so by participating in New York City’s recycling programs, and by installing more energy efficient materials and appliances when updating their apartments.[8]

Trivia

  • 75 Wall Street was part of a surge in real estate development in the Financial District in the mid to late 2000s. Other buildings constructed or converted around this time include 95 Wall Street, 8 Spruce Street, 45 Broad Street, 30 Park Place, William Beaver House, and the W Hotel & Residences.[9]
  • In 2009, 75 Wall Street announced that the building was going to start a rent to own program. This program allowed residents to apply their first year of rent paid towards the price of owning their apartments.[10]
  • When residents continually used the rooftop terrace as a bathroom for their dogs, the building’s management company was forced to send out a memo to all residents reminding them of the rules of the building, and to ask them to stop using the terrace as a bathroom. This memo was leaked to the press and made headlines in several real estate blogs.[11]
  • When the building re-opened in 2009 as a residential and hotel building, it was one of the largest mixed use buildings in Manhattan south of Canal Street. [12]


References

  1. Wikipedia - Financial District
  2. Walk Score
  3. City Realty - Review
  4. City Realty - Review
  5. New Construction Manhattan
  6. 75 Wall Street official site
  7. Street Easy
  8. Manhattan Scout
  9. Curbed NY
  10. Curbed NY
  11. Animal New York
  12. Street Easy


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