The condominium conversion and redevelopment of the landmarked Broad Exchange Building, aka 25 Broad Street, has officially wrapped, with sales now launching. The structure was designed by Clinton & Russell, and was once the largest office building in the Financial District and all of Manhattan, formerly serving as the headquarters of investment bank and stock brokerage firm Paine Webber. It was designated as a landmark in 2000. A total of 307 units will be created and be divided between 168 one-bedrooms, 135 two-bedrooms, and four penthouses. Prices will start from under $1 million and range from about $950 per square foot on the ground floor to $2,150 per square foot for the top floors, with LCOR serving as the site’s developer.
The condominiums will feature 9.5 foot- to 13-foot-high ceilings, while solid, wide-plank wooden floors will create warmer atmospheres within each home. Furnished kitchen appliances, large closet spaces, glass bathroom tiles, and washers and dryers will also be standard. The penthouses will have their own private outdoor terraces that range from 410 square feet to nearly 3,000 square feet.
The building is steps away from some of the most iconic architectural and historical New York City landmarks in Lower Manhattan, like the New York Stock Exchange, 20 Exchange Place, Trinity Church, the World Trade Center, and the Brooklyn Bridge. The rooftop terrace offers residents views of the surrounding skyscrapers and diverse architecture that arose from the idiosyncratic Dutch street layout.
“The transformation of downtown has propelled the demand for homes in the neighborhood,” said David Sigman, executive vice president and principal at LCOR. “Compared to many of these new condominium offerings, The Broad Exchange Building’s listings represent a price point unrivaled in the current market. The building’s rich history, ample modern amenity spaces, and location in the heart of FiDi make it a truly unique offering and we’re excited to bring it to market.”
“These homes offer uncompromising value and will be a particularly compelling opportunity especially for first time homebuyers,” said Adrienne Albert, founder and chief executive officer of The Marketing Directors, the exclusive sales and marketing agency representing the project. “With classic architecture, high ceilings, and prime positioning right across from the New York Stock Exchange, The Broad Exchange Building stands apart from other buildings.”
The upcoming 8,000 square feet of amenities for 25 Broad Street will include a residential lounge, a fitness center with a yoga room, a game room and sports simulator room, a children’s playroom, a communal outdoor rooftop with barbecue grills, an outdoor play terrace for children, and a dog grooming facility.
The closest subways are the J and Z at Broad Street in front of the Stock Exchange, the 4 and 5 at the intersection of Wall Street and Broadway, and the 2 and 3 train at the Wall Street station, which can be accessed through the Kevin Roche John Dinkeloo & Associates-designed public atrium at 60 Wall Street.