One Wall Street: New York landmark raises the bar for luxury living
The regeneration of historic One Wall Street in Downtown Manhattan is nearing completion, with luxury condominiums now available to Hong Kong buyers.
New York City has always been on the map for global real estate investors. Now, multibillion dollar developments are creating even more opportunities to live and invest in the very heart of the world's most famous city.
China and Hong Kong are two of the biggest overseas investors in New York property, according to research from Jones Lang LaSalle (JLL). Rising property prices and historically low vacancy rates make the Big Apple ripe for investment or landlords buying to let.
JLL's Chief Operating Officer for New York tri-state operations, Stephen Schlegel, explains: “The historical returns on investments in New York City real estate over the past 25 years have been significant, so it's actually a safe haven for foreign capital. In addition, recent investments in infrastructure reinforce the notion to foreign investors that there is a long-term commitment to growing the market.”[DW1]
Much of this redevelopment has centered on Downtown Manhattan, which has benefited from $30 billion US in infrastructure and real estate investment over the past decade, transforming the city's financial district into an attractive lifestyle destination with a growing innovation economy.
This includes ambitious residential projects, such as the regeneration of the historic One Wall Street building by esteemed New York developer Macklowe Properties. Part of the largest office-to-condo conversion in the city's history, One Wall Street will offer 566 luxury condominiums on the intersection of two of the world's most famous streets, Wall Street and Broadway, with irresistible views of the Manhattan skyline, Statue of Liberty and New York Harbor.
New York's oldest and newest neighborhood
Lower Manhattan, or Downtown, is the most historic district of New York City, now enjoying a new lease of life as a taste-making center of culture, food and innovation. More than 800 technology, media and advertising companies have set up shop in its iconic skyscrapers, alongside Michelin-starred restaurants and prestigious brands like Gucci, Hermès and Tiffany & Co.
Old meets new at every turn in this refined neighborhood, from the antique Woolworth Building, completed in 1912, to the new One World Trade Center and state-of-the-art Oculus transport hub. Downtown isn't all glass and concrete either, with abundant parks, public gardens and waterfronts making it one of NYC's most pleasant districts.
A wealth of retail and dining options also make Lower Manhattan eminently livable, including the new Whole Foods Market occupying three floors of the One Wall Street building itself. Families will also find several top-tier elementary and high schools close by, as well as prestigious universities including Barnard, Columbia, Cooper Union, New York University and the Parsons School of Design.
Situated between Brooklyn, Jersey City and Uptown Manhattan, Lower Manhattan offers unparalleled access throughout the city via 13 Subway lines, 30 bus routes, 20 ferry routes or a stroll over Brooklyn or Manhattan Bridge. Famous destinations such as Times Square, the Empire State Building and Central Park are all within 25 minutes of One Wall Street.
Timeless style meets smart technology
One Wall Street was built in 1929 by Ralph Walker, The New York Times' “Architect of the Century.” Formerly the headquarters of the Irving Trust Company and Bank of New York, this 51-story skyscraper next to the New York Stock Exchange is undergoing a meticulous regeneration designed to preserve its famous Art Deco interiors, including the Red Room lobby which has been restored to its former glory and will serve as a unique retail space.
Luxury residences at One Wall Street range from studios to four-bedroom apartments. These maintain the building's generous ceiling heights and dramatic views while incorporating the latest smart technologies and exquisite materials and finishes, including French oak floors, Italian glass cabinets, marble counters and bespoke hardware.
Residents will enjoy exclusive membership to The “One” Club and over 100,000 square feet of health and wellbeing amenities, including a world-class fitness center, spa treatment rooms, outdoor terraces, work and entertainment suites and a 75-foot swimming pool surrounded by panoramic views.
One Wall Street is expected to complete in 2020, with luxury apartments now available to buyers in Asia for the first time. For more information about One Wall Street and other New York residential properties, click here or contact JLL International Properties at +852 3759 0909 or [email protected].