Duplex penthouse at 75 Wall Street's Platinum Collection (Credit: Evan Joseph)
As the office-to-residential debate rages on at city and state levels, it is worth noting that 75 Wall Street was well ahead of the game: The 36-story building was originally erected as an office tower in 1987, but converted to a 250-room hotel and a 346-unit condominium in 2010. More recently, select units seek to make the most of another trend: The Platinum Collection comprises five units furnished and styled by Vesta, whose projects have been featured in Architectural Digest and on Selling Sunset. These apartments feature high-end furniture, decor, and finishes; they also come on the market at a time when shipping and repair delays related to the supply chain crisis and labor shortages have many flocking to turn-key, fully furnished apartments.
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The Platinum Collection’s prices range from $1.249 million for a studio/flexible one-bedroom to $6.995 million for a four-bedroom duplex penthouse. CityRealty listings, composed of both new development sponsor sales and resales show that the median asking price of a one-bedroom condo in the Financial District is $1 million.
The apartments come with the option to lease the furniture and, like all units at 75 Wall Street, access to the hotel’s amenities and services. These include room service from two eateries, housekeeping, concierge, 24-hour fitness center, club lounge, and rooftop lounge/terrace with 360-degree views.
All photos of 75 Wall Street via Evan Joseph
“Custom furniture is basically a non-starter for many these days due to supply chain issues. The ‘all in’ option at 75 Wall Street presents a rare opportunity to have the home of your dreams without onerous delays and logistical nightmares” — Christina Slater, Design Director, Vesta
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The building's hospitality component used to be Andaz Wall Street, but developer Hakimian Organization sold this portion in January 2022 following the Andaz brand's woes in the wake of the pandemic. The hotel has reopened as Hyatt Centric Wall Street, part of the company’s “destination-centric” line of boutique hotels and aimed at targeting leisure travelers over the business travelers that used to be the Financial District’s bread and butter. If last week is anything to go on, 2022 will be a better year — Crain's New York Business reported that city hotels hosted the highest number of visitors since the start of the year.
If some activists had anything to say about it, the hotel component would have been converted to residential in the interest of getting people into new housing sooner — after all, when hotel AKA Wall Street was converted to rental The Howell, the process only took six months and involved such updates as replacing mini-fridges with full-sized models. Indeed, Governor Hochul's proposal for fiscal year 2023 specifically carves out plans for converting class B hotels to residential; it also calls for lifting regulations on the conversion of offices constructed before 1980. However, zoning continues to make things difficult.
Map via NYC Planning
75 Wall Street is well situated near the New York Stock Exchange, Financial District offices (that are expected to welcome workers back in the coming weeks), historic institutions like Fraunces Tavern and Delmonico's, and contemporary hot spots like The Dead Rabbit.
Additionally, the nearby South Street Seaport’s makeover has generated considerable attention, but the surrounding area is also at the center of less flashy infrastructure enhancements. In June 2016, the City Council approved the Water Street POPS Upgrades Initiative, a zoning text amendment that allows for the improvement of existing public plazas so as to make the stretch of Water Street from Fulton Street to Whitehall Street more inviting. The public plaza in front of 75 Wall Street, which includes a water feature, is among the spaces targeted for updates.
Additionally, the nearby South Street Seaport’s makeover has generated considerable attention, but the surrounding area is also at the center of less flashy infrastructure enhancements. In June 2016, the City Council approved the Water Street POPS Upgrades Initiative, a zoning text amendment that allows for the improvement of existing public plazas so as to make the stretch of Water Street from Fulton Street to Whitehall Street more inviting. The public plaza in front of 75 Wall Street, which includes a water feature, is among the spaces targeted for updates.
Over five years later, the New York City Economic Development Corporation presented a proposal for a multi-level waterfront, extended shoreline, new drainage infrastructure, and the construction of flood walls along a stretch from the Battery to the Brooklyn Bridge. The plan is part of the city’s coastal resilience strategy and sure to make potential residents feel better about living in the area in the time of climate change.
via NYC Economic Development Corporation
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