Financial technology firm Payoneer has finalized a ten-year lease agreement to move its headquarters to 195 Broadway in Manhattan’s Financial District. The company will occupy a 42,000-square-foot space spanning the entire 27th floor of the historic 29-story Neoclassical building starting in spring of 2024. This relocation marks one of the more significant office relocations from Midtown to Lower Manhattan this year.
Art Deco skyscraper, One Wall Street, a preeminent residential property in Financial District, recently announced the completion of The One, an expansive 100,000 square feet of residential amenities. The 564-foot-tall development by Macklowe Properties houses 566 condominiums, and the neighborhood’s largest supermarket, Whole Foods, and a 75,000-square-foot Life Time Athletic Resort in the base of the building. In addition, French retailer Printemps plans to open its first U.S. store in a 54,000-square-foot space, including the historic Red Room.
Construction is nearing topping out on 1 Park Row, a 23-story mixed-use building in Lower Manhattan’s Financial District. Designed by Fogarty Finger Architects and developed by Circle F Capital, which received a $90 million construction loan from Parkview Financial in 2021, the 305-foot-tall structure will yield 103,000 square feet with 58 condominium units in one- to three-bedroom layouts, along with 19,000 square feet of office and retail space on the lower levels. Cauldwell Wingate is the general contractor and 1 Park Row Development LLC is the owner of the property, which is located at the intersection of Park Row and Ann Street.
Grubb Properties has closed on an $86 million loan to construct a residential skyscraper at 111 Washington Street in Manhattan’s Financial District. The development was originally addressed as 8 Carlisle Street and was expected to top out at 50 stories. Updated plans specify a 64-story tower with more than 326,000 square feet of interior space.
Preparation work has begun for the residential conversion of 25 Water Street, a 22-story former office building in Manhattan’s Financial District. Designed by CetraRuddy and developed by GFP Real Estate, Metro Loft Management, and Rockwood Capital, the project involves the construction of ten new stories above the parapet of the existing structure, the replacement of its brick façade with a modern fenestration with more expansive windows, and the gut renovation of its 1.1 million square feet of interiors into 1,300 rental units. When complete, the conversion will be the largest ever in the United States by unit count, surpassing the recent redevelopment of One Wall Street with its 566 condominiums. Pavarini McGovern is the general contractor for the property, which is Water Street to the north, 2 New York Plaza to the south, the New York Vietnam Veterans Memorial to the east, and Broad Street to the west.