THE ADDRESS: THE WOOLWORTH TOWER RESIDENCES, 2 PARK PLACE
•THE NEIGHBORHOOD: THE FINANCIAL DISTRICT
WHO’S BUYING: AN INTERNATIONAL CROWD
THE POWER MOVE: When retail magnate F. W. Woolworth’s tower opened on April 24, 1913, it was the tallest building in the world at 792 feet, and it held that title for many years. Developer Alchemy Properties purchased the top 30 floors in 2012 and renovated them into 33 luxury lofts. “We are responsible for the care of this icon,” says Alchemy president Kenneth Horn, who notes that the restoration of the neo-Gothic landmark—exposing originalglazed terracotta panels, marble and mosaic—cost “twice as much as it would to build a new building.” Designer Thierry W. Despont oversaw the interiors, bringing a contemporary sensibility while respecting the Woolworth’s authenticity.
“People have memories of and history with the Woolworth Building—it’s a character in people’s New York stories,” says Stan Ponte of Sotheby’s International Realty, a lead agent for the project. Historical cachet aside, the building marks the resurgence of downtown Manhattan as the destination of choice for the city’s elite. “When you ask ultra high net worth clients where the best events or parties they’ve been to recently were, it’s downtown,” says Ponte.
Most residences at the Woolworth Tower have views of all of Manhattan and over the bridges and rivers, plus high ceilings, oak floors, marble countertops and integrated Miele appliances. Amenities include access to F. W. Woolworth’s renovated private pool, a residents’ lounge, wine cellar and tasting room, and a private fitness center. One-bedrooms start at $4.6 million, full-floor residences are listed at around $26.4 million and the Pinnacle—the multistory penthouse with a grand ballroom—has been estimated to eventually have a price tag over $110 million when it comes on the market.