Yet another massive commercial to residential conversion is underway in the Financial District, although the trend of conversions is nothing new. Perhaps the most remarkable of them all the Woolworth Building conversion, offering multi-million dollar condos carved out of marble (no affordable options). 1 Wall Street is no Woolworth Building, but its 1930s design and early century architecture make it a treasure compared to its rank-and-file glass clad neighbors. Let’s take a look at the available data.
- Total units (after conversion): 576 according to NYC DOF
- DOB records clearly show this is a commercial to residential conversion. Job filings were approved in May of 2017.
- The latest property tax bills do not indicate any tax incentive that would convey an affordable housing scheme.
- ACRIS records show that Mip One Wall Street Acquisition LLC is the owner, but nothing about any affordable housing options.