25 Broad St Unidad 2008

The Broad Exchange

The Broad Exchange Building is one of the rare instances in which buyers get a little bit of everything: historical detailing, architectural wow-factor, chic amenity spaces, generous floor plans, great natural light and a desirable location. Many of these qualities go hand-in-hand with the fact that 25 Broad Street had multiple iterations before settling into its current form as a white-glove condominium. Completed in 1902 and designed by architecture firm Clinton and Russell in an Italian Renaissance Revival style, the building became known as one of Manhattan’s most prestigious office buildings. Decades later, in 1997, the offices were converted into luxury rental apartments. Then in 2000, the century-old address received landmark status and, in 2019, was converted into a condominium by LCOR, an urban development and management group. As with many rental-to-condo conversions, some units remain available for rent — but fewer and fewer of them. “At this point, because the downtown market is so active and there’s so much demand, rental units that become available then go back on the market as condos to be sold,” says Shlomi Reuveni, president and CEO of Reuveni Development Marketing, which holds exclusive listing rights in the building. “The building offers a lot. It has a world of amenities, it’s beautifully defined and the units themselves are large scaled in comparison to what else you’ll find in Manhattan inventory. That’s all very appealing to a buyer who’s looking for more by way of value.” Residents encounter the building’s history every time they pass through the lobby, a spectacular space that captures that turn-of-the-century glamour. Between the ornate 18-foot ceiling, grand marble staircases and intricate embellishments, the lobby is transportive. “It’s like a movie set, just magnificent,” Reuveni says. The other common areas, of which there are many, have a more modern appeal. There’s the residents’ lounge with plush, modular sofas and blue and gold accents, as well as the charming children’s room with hopscotch, an outdoor space and a mini, Art Deco-themed theater. Niche amenities, like the 3D sport simulator room or pet grooming spa, cater to residents’ hobbies and needs. The sleek co-working space is a practical addition, while the rooftop terrace, outfitted with cabanas, chaise lounges and grills, is more aspirational. “The amenities are a huge draw,” Reuveni says. “Let’s say you have a budget of $1 million. For that type of investment, to get this level of amenities is very unique.” The condo units were given a bright and airy makeover during the 2019 conversion. In the kitchen, white Poliform cabinets are topped with Caesarstone quartz countertops and a neutral glass backsplash. High-end appliances from Miele, Bosch and Liebherr are present throughout. Bathrooms have a bolder design, where contrasting black and white surfaces act as the backdrop to a full-size soaking tub, recessed medicine cabinets and sleek vanity. But the design goes beyond specific features or materials. “Conversions offer a different level of architectural design,” Reuveni says. “And with these units, you get a lot of space. The ceilings are high, with very large, generous living rooms and entry galleries and bedrooms. It’s just very impressive in terms of scale, which you don’t often see when you go with ground-up construction.” The Broad Exchange only offers one- and two-bedroom residences, both with spacious floor plans ranging from 670 to over 1,600 square feet. Prices for a one-bedroom run between $825,000 and nearly $1.5 million, while two-bedroom condos can reach over $2 million. As the name suggests, The Broad Exchange sits at the corner of the pedestrian-friendly cobblestone Broad and Exchange streets. With Wall Street, the New York Stock Exchange and Federal Hall just one block away, it’s one of the most historic parts of the city, if not the whole country. Despite its long history, the downtown area is in flux. “If you walk through the Financial District today, any given day, mid-day, you’ll see that the demographic is very different from five years ago,” Reuveni says. “You’re no longer necessarily seeing people dressed up in suits who work on Wall Street. People move there today not just for the value proposition but for the lifestyle. It’s very, very vibrant.” In just the few blocks surrounding the building, residents can wine and dine at the 187-year-old Delmonico's steakhouse, order a pint on Stone Street, lounge by the river at Battery Park or catch a film at Alamo Drafthouse Cinema. The bustling area offers the New York City golden trifecta: history, culture and outdoors. The entrance to the J and Z trains is right outside the lobby doors, and the 2, 3, 4 and 5 trains are only one block away. Several buses operate along Broadway, and multiple ferries are available along the perimeter of the island. Drivers are also close to the West Side Highway and FDR Drive for travel throughout Manhattan and the Hugh L. Carey tunnel to Brooklyn.