Historic New York City buildings transforming into luxury condominiums may be one of the biggest real estate trends in the market at the moment. From Brooklyn to downtown Manhattan to the Upper West Side, the newest upscale buildings in town are a throwback to the past, with former lives as banks, libraries, and department stores.
Christopher Totaro, an agent at Warburg Realty, says that historic buildings are ripe for conversion. “Since land is at such a premium in New York today, developers are looking for every square inch of real estate they can find, and historic buildings are often it because zoning and landmark preservation laws don’t allow them to be torn down,” he says. “These buildings also help create a unique story for the condo.”
Following are seven examples.
Designed by famed architect Ralph Walker in 1927, 100 Barclay was once home to the New York Telephone Company. Today, Magnum Realty Group has converted the top 22 floors into upscale condos (Verizon offices are in the building’s lower portion). Walking into the Art Deco lobby is like stepping back in time: The hand-painted murals depict the history of communication, from carrier pigeons to smoke signals to early telephones. Amenities for residents include four terraces, a children’s playroom, teen lounge, wine tasting and storage room, and 82-foot lap pool.
Number of residences: 156
Starting price: $4.48 million