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Largest Office-to-Resi Conversion Project in US History Tops Out in FiDi

Largest Office-to-Resi Conversion Project in US History Tops Out in FiDi
Traded Media
by Traded MediaShare

Construction has reached its peak on 25 Water Street, a significant project in Manhattan’s Financial District. The endeavor involves converting a 22-story office building into a 32-story residential complex, marking a remarkable transformation. The project, undertaken by CetraRuddy architects and spearheaded by GFP Real Estate, Metro Loft Management, and Rockwood Capital, includes adding ten stories above the existing structure, replacing much of the old facade with a modern glass design, and renovating the interiors to accommodate 1,300 rental units.

Largest Conversion Project in US History

This conversion project stands out as the largest of its kind in US history in terms of the number of units, exceeding even the redevelopment of One Wall Street. Pavarini McGovern serves as the general contractor for the property, strategically located amidst notable landmarks.

Recent Progress and Next Steps

Since the last update in July, substantial progress has been made. The steel-framed addition has been completed, reaching its maximum height. Currently, attention is turning towards installing the glass curtain wall and balconies. Significant alterations have been made to the original building, with the brick wall being extensively modified to accommodate new windows. While window installation has yet to commence, it is anticipated to begin in the upcoming spring season.

Features and Amenities

Upon completion, 25 Water Street will offer a range of residential options from studios to four-bedroom layouts, boasting spacious interiors with ceiling heights up to 12 feet. Each floor is expected to accommodate around 50 units. The complex will feature an array of amenities, including a basketball court, steam room, sauna, indoor and outdoor swimming pools, sports simulators, coworking spaces, and entertainment areas. An outdoor rooftop lounge will connect to a landscaped terrace, providing residents with a relaxing environment.

Anticipated Completion

The anticipated completion date for 25 Water Street is set for November 2025, as indicated on-site.

Published: February 28, 2024

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