Construction has reached its peak at 25 Water Street, marking a significant milestone in the ongoing evolution of New York City’s Financial District. This ambitious project is not just another building going up; it’s a transformative office-to-residential conversion and expansion that promises to inject new life into this historic area of Manhattan, specifically on Water Street. Designed by the acclaimed CetraRuddy and brought to life by developers GFP Real Estate, Metro Loft Management, and Rockwood Capital, 25 Water Street is poised to become a landmark address.
This massive undertaking involves adding ten stories to the existing 22-story office structure, completely revamping the facade with modern, expansive glass windows, and undertaking a comprehensive interior renovation of its impressive 1.1 million square feet. The result will be approximately 1,300 rental apartments, making it the largest conversion of its kind in the United States when measured by unit count. This scale surpasses even the notable redevelopment of One Wall Street, highlighting the sheer ambition and impact of the 25 Water Street project on the New York City residential landscape. Pavarini McGovern is overseeing the construction as the general contractor for this prominent site, strategically located on Water Street, bordered by 2 New York Plaza, the New York Vietnam Veterans Memorial, and Broad Street.
Since the last update in July, the steel framework for the additional stories has been completely erected, rapidly changing the skyline of Water Street. Recent photos reveal the completed superstructure awaiting the installation of a sleek glass curtain wall and distinctive staggered balconies. Simultaneously, significant progress is being made on the lower sections of the original building. Crews have been diligently working on creating a new window arrangement by removing substantial portions of the former brick facade, which was previously characterized by narrow, vertical window openings. The installation of the new, larger windows is anticipated to commence this spring, promising a dramatic visual transformation.
Construction progress at 25 Water Street, showcasing the steel superstructure against the New York City skyline.
Close-up view of the facade work at 25 Water Street, revealing the removal of brickwork to accommodate new, larger windows.
View from street level of 25 Water Street construction, emphasizing the height and scale of the residential conversion project.
Angle shot of 25 Water Street, highlighting the addition of new floors to the original office building structure.
Detailed perspective of the steel framework and facade modifications at 25 Water Street in the Financial District.
Work underway on the upper floors of 25 Water Street, showing the progress of the residential conversion in Manhattan.
Construction team working on the exterior of 25 Water Street, preparing for the installation of the new glass curtain wall.
Wide shot capturing the full height of 25 Water Street as construction reaches the topping out phase in NYC.
Another view of the extensive facade renovation at 25 Water Street, emphasizing the scale of the project.
Close-up on the newly constructed top floors of 25 Water Street, ready for residential use in the Financial District.
Perspective from below highlighting the architectural changes at 25 Water Street and its impact on the skyline.
View across Water Street showing 25 Water Street and its relation to the surrounding Financial District buildings.
Detail of the structural work at 25 Water Street, showcasing the integration of new construction with the existing building.
Workers on site at 25 Water Street, illustrating the human effort behind this large-scale residential conversion project.
Looking up at the towering 25 Water Street, emphasizing its height and presence on Water Street in New York City.
The evolving facade of 25 Water Street, contrasting the old brick with the new window grid in the Financial District.
The apartments at 25 Water Street will offer a diverse range of layouts, from studios to spacious four-bedroom residences, all featuring impressive ceiling heights of up to 12 feet. Each converted floor is planned to house approximately 50 units, fostering a vibrant community within the building. Residents will enjoy a comprehensive suite of amenities designed for modern urban living. These include a basketball court for sports enthusiasts, steam and sauna facilities for relaxation, both indoor and outdoor swimming pools, sports simulators for entertainment, a rooftop lounge that connects to a landscaped terrace offering stunning views, collaborative coworking spaces, and various entertainment areas.
The anticipated completion date for 25 Water Street is set for November 2025, as indicated on the construction site. This project is not just adding apartments; it’s redefining residential living in the Financial District and further solidifying Water Street, New York City, as a dynamic and desirable place to live, work, and play.
