40 Broad Street: Review and Ratings

Review of 40 Broad Street by Carter Horsley

The 40 Broad Street Condominium includes 166 residential units that start at the 8th floor, and 12 commercial units. 

The building opened as a 317,000-square-foot, 24-story office building in 1983 and has 86 feet of frontage on Broad Street and 26 feet of frontage of New Street. 

It was developed by Dixons International Holding (USA) Inc., a development arm of a major consumer products concern in the United Kingdom and on its completion it was cold to the British Airways Pension Scheme. 

Gruzen & Partners were the original architects. 

Avinash K. Malhotra was the architect for the conversion and his other projects have included 2 Gold Street, The Elecktra, Bleecker Court Apartments, The Crest, and the Chelsea Mercantile Building. 

40 Broad LLC, of which Asher, Joshua and Michael Roshanzamir, who are affiliated with Zamir Equities, are members, is the sponsor and acquired the building for about $64 million from Tishman Speyer Properties. 

The mid-block building is between Beaver Street and Exchange Place and near two other residential conversions of office buildings at 25 and 15 Broad Street.

Bottom Line

Just a few feet south of The New York Stock Exchange, this residential condominium has a spa that became popular in Miami, and a very handsome and elegant lobby and a SHO Shaun Hergatt restaurant.

Description

The building is on an irregular plot and has setbacks on the 6th, 7th, and 12th floors on Broad Street and on the 12th floor on New Street. 

A 24-foot-deep slice of the building was removed from the 8th floor and above to comply with the city s "rear yard" requirements. The removed floor area and floor area available from complying with the city's "Quality Housing" regulations were reconfigured at the top of the building, which is now 30-stories in height. 

The building has a recessed three-story entrance framed by bronze columns and a six-story base. The façade is punched masonry with pink granite and precast concrete. 

There building has no balconies but two recreational terraces and there are six private terraces. 

The initial offering plan on file with the New York State Attorney General's office indicated that the residential units had a total price of about $154,149,000.

Amenities

The building has a doorman, a concierge, a live-in superintendent, and a large fitness center and spa.  There are 20 storage bins available for purchase at $15,000 each. 

The roof is equipped with a glass-enclosed club, “Araias,” with a fireplace as well as an outdoor whirlpool and cabanas. Room, maid, and butler service are also available.

Apartments

Most of the apartments have 11-foot-four-inch ceilings and the five penthouses have 12-foot-high ceilings. 

Open kitchens has black granite countertops and backsplashes, Sub-Zero refrigerators, a Miele oven, cooktop and dishwasher. 

Residence E on the 11^th through the 14^th floors has a 19-foot-long living/dining room with an open kitchen, a 15-foot-long bedroom and an 11-foot-long home office. 

Residence H on floors 16 through 25 has a long entry foyer that opens onto a 23-foot-long living dining room with open kitchen, a 15-foot-long bedroom and a 12-foot-long home office. 

Apartment 24G has a long entry foyer that leads to a 19-foot-long living room with a 27-foot-wide terrace, an 11-foot-long open kitchen and a 11-foot-long bedroom. 

Apartment 21FG has a long entry foyer that leads past an enclosed kitchen to a 22-foot-long living/dining room that connects through sliding doors to a 16-foot-long second bedroom. The master bedroom is 23 feet long. 

Residence B on floors 16 through 25 has an foyer that leads past an open kitchen with an island to a 29-foot-long living/dining room that opens onto a 14-foot-long bedroom.