25 Water Street Conversion Sets Record as Largest Office-to-Residential Project
Key Takeaways 25 Water Street in Manhattan has become the largest office-to-residential conversion in U.S. history, with 1.1 million square feet transformed and nearly 1,300 new rental units added. The project has dramatically changed the Financial District’s skyline, including the addition of 10 stories to the existing structure. The influx of rentals is pushing up prices, challenging the neighborhood’s traditional character, and signaling a shift away from conventional office life. Redefining Downtown Living in the Financial District Manhattan’s 25 Water Street, just steps from Battery Park, is now the largest office-to-residential conversion ever undertaken in the United States. Developers gutted and rebuilt 1.1 million square feet, adding 10 stories and nearly 1,300 rental units, forever altering the FiDi skyline. Rental prices surge, neighborhood character faces collapse, and traditional office life fades beneath glimmering glass. As Wall Street’s shadows lengthen, real estate inv...