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Today's Featured Building: Croft

Croft-nyc.jpg

What is today known as the Financial District of New York City was once New Amsterdam a 17th century Dutch settlement. By the late 17th century, of course, this settlement fell into British hands. Under the British and even later after the War of Independence, the area continued to develop as a residential neighborhood. Slowly, however, more and more commercial office buildings were constructed until the area became predominately a financial district by the early 20th century.


In 1906, John Voorhees Cockcroft hired architect Jay H. Morgan to build a 16-floor office building on the corner of Nassau and John Streets on land that had been owned by his family for over a hundred years. The resulting beaux-arts building was known as the Cockcroft Building. Interestingly, Cockcroft's mother had been born at the same location in the early 1800s when the area was still a residential neighborhood.[1]


Full-time residents in the area remained sparse until the 1990s. Then, more people became interested in living in the area and government incentives made conversions more financially attractive to developers. The conversion of office buildings in the area spiked again when the government increased incentives once more after many financial institutions moved out of the area after 9/11.[2]


The Cockcroft Building continued to be used as office space for almost one hundred years. In 2004, however, after the introduction of government incentives, the building was converted into condominiums. Architect Arpad Baksa was hired to complete the renovations by the Yair Levy Development Corporation and the Skyway Development Group. The conversions were completed in 2005 and the building's name was changed to The Croft.[3]

Location

Nassau and John

The Croft is located on the corner of Nassau Street and John Street in the Financial District of Manhattan, New York City. The Financial District has changed dramatically since the end of the 20th century and the turn of the 21st century. Before that time it was primarily a daytime work destination. Since that time, however, the neighborhood has had a growing number of full-time residents.

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Cities and Regions:

Region Buildings Housing Units
New York City, NY 625 103,068
Los Angeles, CA 77 10,247
Vancouver, BC 223 39,498
Chicago, IL 51 14,683


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