A 19th-century Classical Revival style building in Lower Manhattan that was the home of the United States Steel Corporation, 71 Broadway is a designated New York City landmark and listed on the National Register of Historic Places. World Wide Group’s conversion of this building into luxury rental residences was among the first and most successful of such conversions, paving the way for the evolution of the Financial District into a thriving live-work-play-stay community.
After acquiring 71 Broadway in an all-cash transaction, World Wide Group worked with SLCE architects to create graciously proportioned contemporary homes while preserving historically significant features, including the original curved glass bay windows. Utilizing Historic Tax Credits and a New York City tax credit program that was implemented to spur development in Lower Manhattan, World Wide Group was able to offer rents at a lower rate compared to similar properties uptown.
Type: Residential rental
(conversion of a 275,000 square foot office building)
Acquisition Date: 1996
Completion Date: 1998
Number of Units: 237