Condo Conversion of The Exchange Building Slated for Completion
- Jan 24, 2008
By Anuradha Kher, Online News EditorNew York–The Exchange at 25 Broad Street, a remodeled luxury condominium located across the street from the New York Stock Exchange in Manhattan’s Financial District, will close sales for its first phase in February. Remodeling of the landmark building is slated to be complete by late spring of this year.The 565,000-sq.-ft. Italian Renaissance Revival building was originally designed by architects Clinton & Russell and completed in 1902. Then known as The Broad Exchange Building, it was the largest and most valuable office building in America and was recognized as one of the most desirable addresses for Wall Street’s brokers and bankers. The building, of which only the interior is redesigned, now houses condominiums with 10-to 14-ft. ceilings and the latest kitchen, bathroom and bedroom fixtures. Amenities include a health club and day spa, private residents’ lounge and dining room with full catering kitchen, private screening room, on-site laundry/valet, viewing garden, children’s playroom and business resource center.“We believe The Exchange at 25 Broad is the ideal home for New Yorkers who desire the finest residences in the Financial District, the city’s fastest-growing neighborhood,” says Kent M. Swig, president of Swig Equities, owner of the Exchange. A total of 121 units (34 percent of the building), each priced between $795,000 and $3.4 million, have already been sold.The Exchange closed as an office building in 1995 and re-opened in 1997 as an apartment building.