New rendering of One Wall Street and its annex from the northeastvia CORE Real Estate
When Ralph Walker was tapped to design a monumental building at One Wall Street for the Irving Trust Company in the 1930s, rumor has it that rival architect Cass Gilbert (of Woolworth Building fame) withdrew his money from the bank in protest for not getting the commission. Egos notwithstanding, we are left with two elegant masterpieces on Broadway in the Financial District: one dressed in the Gothic style and the other in Art Deco. Now after serving decades as the foremost places of commerce, large portions of the buildings are being transformed into condominiums.
Google Earth aerial of the One Wall Street and the Financial District (CityRealty)
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While sales at the Woolworth Tower Residences are already at full steam, the release of One Wall Street’s 524 units is just readying to begin. Core Real Estate recently announced, via Twitter, that they will be handling sales and marketing at One Wall, and that the conversion will be among the largest condo conversions in Manhattan history.
The Irving Trust Company Building at 1 Wall Street served a glorious eight decades as the home of the Irving Trust Company which then became absorbed into the Bank of New York Mellon. The 50-floor building anchors one of the world’s best addresses behind the stock exchange and overlooking the yard and spire of Trinity Church. Dressed in sumptuous limestone, the gently undulating façade results in a beautiful play of light and shadow, and its climatic culmination is still an impressive beacon over downtown
Elevation of One Wall Street and the changes planned for its annex (CityRealty)
Macklowe Properties, mastermind of 432 Park in Midtown, is the incubator of the conversion. There will be 155,000 square feet of retail space, and 800,000 square feet devoted to condo and rental apartments. To the relief and pleasure of New York City architecture enthusiasts, this landmarked building’s limestone exterior will largely be protected thanks to its landmark status. However, the new use and planned retail space call for some minor renovations. Additionally, the Landmarks Preservation Commission approved a six-story addition atop the One Wall’s annex building that will partially serve as a “winter garden” for residents.
"The exterior of a building has to be viewed by thousands, and we have got to give them mental relief and pleasure." - Ralph Walker
Few details have been released regarding details of the residences. The adept hands of Robert A.M. Stern Architects with SLCE will be shaping the interiors. Permits reveal that many of the upper levels will have large spreads that will cover the entire floor or be shared with only one other home. There will be an abundance of private and public terraces and amenities will include on-site parking, a children’s playroom, billiards room, bike parking, fitness center, a green house and much more. A Whole Foods supermarket will anchor the retail space and serve as an unofficial amenity.
One Wall Street retail base anchored by Whole Foods
Moreover, many of One Wall Street’s famed interiors will be kept intact and restored. While the White Room’s massive windows and ceiling made of shells imported from the Philippines will now be part of the penthouse unit, the Red Room is expected to open to the public as a retail space or sales office. This former bank reception room with a mosaic of tiles in all shades of red contrasted with gold lines is undergoing a renovation of its own to restore it to prime condition.
One Wall Street Annex's new retail storefronts (Macklowe Properties)
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