The Real Deal New York

Robert A.M. Stern designing One Wall Street resi conversion

Macklowe Properties is seeking $100M in EB-5 funding for the $1.5B project

September 15, 2015 09:45AM

One Wall Street (credit: Robert A.M. Stern Architects)

One Wall Street (credit: Robert A.M. Stern Architects)

Macklowe Properties is sticking with the classics, tapping architect Robert A.M. Stern for its residential conversion of One Wall Street in the Financial District.

A new rendering of the planned changes show that the building’s main tower, built in 1929, will largely remain intact, while its annex, added in 1961, will have its top section modified and expanded.

The new annex will narrow as it rises, adding large windows and setbacks, which will create a large amount of outdoor space, New York YIMBY reported.

Further details on the building’s ground-level retail spaces are unavailable, as permit applications for the conversion have not yet been filed.

Macklowe is seeking $100 million in EB-5 funding for the project, about 7 percent of the total cost, pegged at $1.5 billion.

The developer bought the 50-story, 800,000-square-foot office tower in 2014, paying $585 million. [NY YIMBY]Ariel Stulberg