In the heart of NYC’s Financial District, a nineteenth-century gem has been cut and polished into the city’s most exclusive residence.
The Diamond Condo, a converted ten-story former skyscraper, pays homage to old New York. Built in 1892, the structure once served as the Diamond Exchange, where nearly every precious stone entering the US was traded.
Today, after a substantial investment and a design-led revitalization, the building is launching as an exclusive collection of nine full-floor residences.
The Real Deal sat with the brokerage representing the property, as well as its interior designer, to discuss the transformation and what it means for FiDi’s future.
Preserving the jewel of Maiden Lane
For Thomas Guss, President of NYR, the brokerage representing the property, the project is a labor of love.
“The building was in danger of being demolished, but the owners were determined to save it,” Guss says. “We’ve revitalized a piece of history and turned it into something truly modern.”
Built within a cast iron structure, the building’s floors were constructed and reinforced to accommodate heavy jewelry safes. The developer took great care to preserve as many architectural details as possible, such as the building’s facade. One of the most striking features is the set of historic bay windows, among the first ever constructed in New York City.
“They were originally designed to provide diamond dealers with optimal natural light for inspecting stones,” says Guss.
Today, those same windows flood the living spaces with a brilliance that modern floor-to-ceiling glass often struggles to replicate.
High concept interiors with old-world soul
To bridge the gap between 1892 and 2024, the developers tapped Alex Wiederin, founder of Buero New York. A heavyweight in the world of luxury branding and magazine design (with credits ranging from Vogue to Town & Country), Wiederin brought a fresh, functionalist perspective to the residential space.
“I fell in love with it right away because it is a spectacular building,” Wiederin says. “We wanted to create something timeless that speaks to the old world but offers everything you need for contemporary living.”
Wiederin’s design philosophy eschews the cookie-cutter approach. Each 1,300-square-foot unit features a layout that prioritizes flow and function. The living rooms are positioned at the front to take advantage of the historic bay windows, while the primary bedrooms, walk-in closets, and spa-like bathrooms are tucked quietly in the back.
The level of detail throughout the space is obsessive, from white oak chevron floors to custom European millwork.
“It’s built almost like a boat; everything has a purpose,” Wiederin says. “There are hidden compartments for coffee machines, wine coolers, and even a custom drawer with a rack for drying clothes you don’t want to put in the dryer.”
Perhaps most notable is the rarest commodity offered by The Diamond Condo: total privacy. Each residence occupies an entire floor.
“Everything you need is right on your floor,” says Guss.
This boutique model allows the building to offer remarkably low carrying costs by forgoing expensive, underused amenities in favor of high-end, in-unit features. Each apartment is a self-contained sanctuary equipped with Viking ovens and Bosch appliances.
For those seeking the pinnacle of the offering, the Penthouse includes a private roof terrace featuring an outdoor kitchen, a pergola, and a private office space.
“It has a very French, Parisian feel,” Wiederin says. “You go up a couple of stairs and cross over to this beautiful hidden place where you can entertain, or just lay in the sun.”
A value play in a flourishing district
With residences expected to start at below $2.6 million, Guss views the project as a high-impact value proposition for a neighborhood that is finally hitting its stride.
“People are often surprised by how nice it is to live in FiDi,” Guss says. “You’re steps from the Federal Reserve, the Fulton Street Hub, and the Oculus. You have the riverfront, the jogging paths of Battery Park, and amazing restaurants at the Seaport all within walking distance.”
Wiederin agrees, noting that the Financial District is currently undergoing a “romantic” comeback.
“This building represents New York as we see it in movies,” says Wiederin. “It’s a wonderful symbiosis of history and livability.”
As the market continues to crave intimacy over intensity, The Diamond Condo stands as a testament to the power of preservation paired with modern design.
To learn more, visit The Diamond Condo website.