Goldman Sachs’ former Wall Street headquarters will soon welcome new tenants after a residential conversion – with renters paying up to $10,000 a month to secure their own corner office in the Financial District.
The skyscraper at 55 Broad St. — which served as Goldman’s home from 1967 to 1983 as it became a global finance giant under legendary chief executive and trader Gus Levy — began accepting applications Monday ahead of its November opening, Bloomberg reported.
The 36-story former office building, a stone’s throw from the New York Stock Exchange, has been transformed by developers Metro Lost and Silverstein Properties into 571 apartments — ranging from studios that rent for $4,000 a month to three-bedroom units that are expected to fetch $10,000 a month.
The move comes as the finance industry sheds its grip on the neighborhood after the pandemic turned downtown into a virtual ghost town before it slowly began a comeback.
The area now features a Whole Foods on Broadway and a food hall at the nearby Tin Building at the South Street Seaport. Young families can be spotted at an indoor playground that used to be a New York Sports Club, while a Serafina restaurant is now located at what was previously a men’s suit store.
Like many dated office premises, 55 Broad struggled to retain tenants and was only 60% occupied before the developers snapped up the building for $173 million last year.
Metro Lost CEO Nathan Berman said the Financial District has evolved into “a 24/7 area.”
“It used to be the consolation prize, now it’s a destination for people and a very reliable neighborhood,” Berman he told Bloomberg.
Each apartment at 55 Broad will have “10-foot ceilings and oversized picture windows that flood the space with natural light while offering stunning cityscape views,” according to the developers.
“The custom Italian kitchens are a chef’s dream, featuring integrated appliances, quartz countertops, and matching backsplashes that exude both style and functionality,” they said.
“Bathrooms are equally luxurious, with custom Italian tiles and Porcelanosa vanities ensuring a spa-like retreat along with ample storage.”
The amenities on offer should also satisfy New York’s well-heeled financiers. They include a fitness and yoga center, pet-washing stations, a rooftop swimming pool and barbecue grills.
“I think it’s going to be profitable. I hope it’s going to be profitable. I’ll be disappointed if it’s not profitable,” Larry Silverstein told Bloomberg.
Goldman Sachs, meanwhile, is now based at 200 West St.
Bloomberg reported that Metro and Silverstein are considering a proposal from New York state officials as to whether to offer 25% of the units as affordable housing in return for tax breaks.
Housing is considered “affordable” in New York when a household spends no more than 1/3 of its income on rent and utilities.
Both City Hall and Albany have been trying to encourage the redevelopment of corporate premises as a way of tackling the Big Apple’s chronic real estate shortage.
