Rockwood Capital

Rendering of completely repurposed 25 Water Street, New York City, from office to residential, courtesy of CetraRuddy.

25 Water Street’s Expansion Tops Out in Financial District, Manhattan

8:00 am on February 27, 2024 By Michael Young and Matt Pruznick

Construction has topped out on 25 Water Street, a 32-story office-to-residential conversion and expansion in Manhattan’s Financial District. Designed by CetraRuddy and developed by GFP Real Estate, Metro Loft Management, and Rockwood Capital, the project involves the construction of ten stories above the parapet of the former 22-story office building, the replacement of much of its old façade with a modern fenestration featuring more expansive glass, and the gut renovation of its 1.1 million square feet of interiors into 1,300 rental units.

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Rendering of completely repurposed 25 Water Street, New York City, from office to residential, courtesy of CetraRuddy.

25 Water Street Readies for 1,300-Unit Residential Conversion in Financial District, Manhattan

7:30 am on July 11, 2023 By Michael Young

Preparation work has begun for the residential conversion of 25 Water Street, a 22-story former office building in Manhattan’s Financial District. Designed by CetraRuddy and developed by GFP Real Estate, Metro Loft Management, and Rockwood Capital, the project involves the construction of ten new stories above the parapet of the existing structure, the replacement of its brick façade with a modern fenestration with more expansive windows, and the gut renovation of its 1.1 million square feet of interiors into 1,300 rental units. When complete, the conversion will be the largest ever in the United States by unit count, surpassing the recent redevelopment of One Wall Street with its 566 condominiums. Pavarini McGovern is the general contractor for the property, which is Water Street to the north, 2 New York Plaza to the south, the New York Vietnam Veterans Memorial to the east, and Broad Street to the west.

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Empire Stores

Six-Story Commercial Conversion & Expansion Tops Out At 55 Water Street, Dumbo

10:00 am on September 15, 2015 By Reid Wilson

The transformation of a five-story, 1860s-era warehouse into a six-story mixed-use commercial building is nearing completion at 55 Water Street, in Dumbo. According to Brownstoner, the structure’s sixth-floor addition has been constructed, and glass façade is now being installed. Dubbed Empire Stores, the building will yield 395,000 square feet of commercial space, which will be made up of offices, retail, restaurants, and exhibition space; rooftop gardens and outdoor public space are also featured.

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