Former Goldman Sachs HQ Converted into Luxury Rental Apartments, Asking Up to $10K a Month

By: Serach Nissim

Goldman Sachs’ former Wall Street headquarters is successfully being converted into posh residential rentals. As reported by the NY Post, soon new tenants will move in – with renters paying up to $10,000 a month. On Monday, the 36-story skyscraper at 55 Broad St started accepting applications from tenants, ahead of its November opening, Bloomberg reported.

The tower, completed in 1967, served as Goldman’s home till 1983 as the company became a leader in global finance under the direction of renowned chief executive and trader Gus Levy. Last year, the 440,000-square foot office building had close to a 50 percent vacancy rate when developers Metro Loft and Silverstein Properties jumped in to purchase the tower for $173 million. Just steps from the New York Stock Exchange, the former office building has been converted by the developers into 571 luxury apartments. Rental prices range from studios asking $4,000 a month up to three-bedroom units that are asking $10,000 a month. The smaller, higher floor apartments are almost ready, and move-ins for these units will begin in November. The rest of the apartments are slated for completion in mid-2025.

Each apartment at 55 Broad will have “10-foot ceilings and oversized picture windows that flood the space with natural light while offering stunning cityscape views,” per the developers. “The custom Italian kitchens are a chef’s dream, featuring integrated appliances, quartz countertops, and matching backsplashes that exude both style and functionality,” they said. “Bathrooms are equally luxurious, with custom Italian tiles and Porcelanosa vanities ensuring a spa-like retreat along with ample storage.”

Of course, the building also offers amenities for residents, including a rooftop pool, a fitness and yoga center, pet-washing stations, and outdoor barbecue grills. There is also a rooftop club house where tenants can hold business meetings, enjoy a cocktail and experience the spectacular views. Per Crain’s, Silverstein, for whom this was the first office to residential conversion said the building’s tier shape was just right for the project.

The project’s architect, John Cetra of CetraRuddy, used the setbacks from the three-tier wedding-cake style building to create outdoor terraces. “It has a large base, but then over the base the building comes in and rises, so the tower over the base is perfect for residential use,” Silverstein said in an interview. “Every apartment is going to have windows, windows, windows.” He added: “I think it’s going to be profitable. I hope it’s going to be profitable. I’ll be disappointed if it’s not profitable.”

The neighborhood, traditionally home to the financial industry is becoming home to others as well. No longer are the streets filled only with bankers in suits but families and children are finding their place there. Per the Post, when the pandemic hit, building vacancies jumped and since then other uses have been made for the space, helping the neighborhood to comeback. Metro Loft CEO Nathan Berman said the Financial District has evolved into “a 24/7 area.”