After opening its doors in late 2023, Pearl House has officially surpassed 50 percent leased. Located at 160 Water Street in the Financial District, the city’s largest office-to-residential conversion to date, yield 24 stories with 588 units and 30,000 square feet of amenities. Pearl House is designed by Gensler and developed by Vanbarton Group, a real estate development, investment, and advisory firm, with Compass Development Marketing Group handling leasing. Pricing for available units starts at $3,909 a month.
Rendering of sky bar at Pearl House, by Williams New York
Rendering of Sky box at Pearl House, by Williams New York
“Watching Pearl House come to life as more and more new residents settle into their apartments and come to call the property home has been incredibly exciting and fulfilling,” said Joey Chilelli, managing director of Vanbarton Group. “As the building continues to activate and its final communal areas are completed, we believe the appetite for this caliber of rental product will continue to grow, particularly as the Seaport District, with Pearl House now a key element within that fabric, continues to thrive and flourish.”
Residences range from studios and one- and two-bedroom apartments to penthouses with private terraces. Finishings include 9’6″ ceiling spans, large double-pane windows, Greenguard gold certified flooring, kitchens with stone countertops and integrated appliances, bathrooms with Italian porcelain tile, keyless entry, smartphone-controlled lighting, Ecobee thermostats, and Bosch washer-dryers.
Rendering of Sky terrace at Pearl House, by Williams New York
Rendering of lobby at Pearl House, by Williams New York
Residents have access to SocialHOUSE, a collection of lounge and social spaces, including a grand sculptural brass staircase, a 24-hour staffed reception desk, a double-height great hall, and a resident-exclusive coffee bar. ClubHOUSE amenities include a state-of-the-art Technogym Performance House, a bowling alley, a high-tech sports simulator, a game room, a craft-making workspace, a children’s playroom, a pet grooming salon, and a spa with facilities including a cold plunge pool and hyperbaric oxygen therapy chamber. SkyHOUSE on the 28th floor has several terraces and lounges for residents, including a co-working space, a full-sized bar, and a chef’s kitchen.
Additional amenities include service elevators, package rooms, secured bicycle storage, and complimentary WiFi in all amenity spaces.
Rendering of social lounge at Pearl House, by Williams New York
Move ins at Pearl House are currently underway. Pearl House is expected to be fully completed this summer.
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I like this project, but the add still comes across as desperate. As if they want people to see success and ‘fully leased’ to create a sense of urgency for what is actually a little more than half-leased.
So about 300 apartments are empty. So it is not profitable.
Maybe it would be better to lower the price and fill it up.
For it is better to rent all 590 apartments at 3300 then be 50% empty at 3900. lots a no brainer .
8300 a month for a two bedroom in the financial district.