25 Water Street
113 Broad Street | also 4 New York Plaza, 29 Water Street, 23B Water Street | Financial District | built 1969
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The city photographed every building for its tax records around 1940 and again in the 1980s. NYC Municipal Archives.
Written with AI from the source each entry cites, then fact-checked.
- 1969
Manufacturers Hanover completes a Brutalist operations center at 25 Water Street
Carson, Lundin & Shaw design the Brutalist tower, built from 1967 to 1969 as an operations center for processing the checks and other banking work of Manufacturers Hanover Trust Company. Narrow windows on the third through fifteenth floors make air-conditioning the era's mainframe computers more efficient. The reddish-brown brick is chosen to echo historic buildings from New Amsterdam's Dutch era.
Source: Wikipedia
- 2011
The New York Daily News moves into the Water Street tower
The New York Daily News leased space in the building, then known as 4 New York Plaza, in 2010 and moved in during June 2011. It became one of the tower's largest tenants, alongside JPMorgan Chase.
Source: Wikipedia
- 2012
HSBC and Edge Fund Advisors buy 4 New York Plaza for a reported $270 million
In May 2012 a partnership of HSBC Alternative Investments and Edge Fund Advisors bought 4 New York Plaza from Harbor Group International for a reported $270 million. Tenants at the time included the New York Daily News, American Media with OK! Magazine, and JPMorgan Chase, which held nearly 800,000 square feet according to CoStar.
Source: commercialobserver.com
- 2012
Superstorm Sandy floods the Water Street office tower
Superstorm Sandy floods Lower Manhattan, and the Water Street tower, then known as 4 New York Plaza, suffers significant damage. The building had been sold that year to HSBC Alternative Investments and Edge Fund Advisors for $270 million. Its biggest tenants, JPMorgan and the New York Daily News, do not return until late 2013.
Source: Wikipedia
- 2020
The Daily News closes its newsroom here as JPMorgan prepares to move to Park Avenue
In 2020 the New York Daily News closed its newsroom in the Water Street tower. In the same year JPMorgan Chase, another major tenant, cut back its presence in the building as it prepared to move to new headquarters at 270 Park Avenue.
Source: 6sqft
- 2022
GFP Real Estate and Metroloft buy the tower to convert it to apartments
GFP Real Estate and Metroloft buy the office tower in December 2022 and rename it 25 Water Street. Their plan adds ten floors to the existing 22 and creates about 1,300 apartments, which would make it the largest office-to-residential conversion in the United States. The project is later marketed as SoMa, for southern Manhattan.
Source: Wikipedia
- 2023
Owners reveal plans to gut the offices and add floors for more than 1,300 apartments
In spring 2023 the new owners, GFP Real Estate and Metro Loft, described how they would turn the former office tower into housing. The plans called for stripping out the offices, cutting two courtyards through the middle of the building and adding floors to reach 32 stories. CetraRuddy was designing the floor plans, and the gray facade would replace the brown brick. The owners called it the biggest residential conversion in the country.
Source: gothamist.com
- 2025
A lottery opens for 330 affordable apartments in the converted tower
In 2025 the owners opened a housing lottery for 330 affordable apartments, roughly one quarter of the tower's 1,320 units. Applicants earning 40, 80 or 90 percent of the area median income could apply until May 5, 2025. Rents ran from $932 a month for studios to $3,286 for three-bedrooms.
Source: 6sqft
- 2025
The first residents move into the converted SoMa apartments
Leasing for the apartments begins in January 2025, and the first residents move in the following month. The conversion turns a 1960s bank operations center, designed around mainframe computers, into housing. It is the largest office-to-residential conversion in the country.
Source: Wikipedia
Further reading
- 25 Water StreetWikipedia
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