SoMA: The Nation’s Largest Office-to-Residential Conversion Begins Leasing in FiDi

Rendering courtesy of Streetsense

The Financial District (FiDi) in Manhattan is undergoing a historic transformation with the launch of SoMA (South Manhattan) at 25 Water Street, the nation’s largest office-to-residential conversion. Originally built in the 1960s as an operations center for Manufacturers Hanover Trust Company, this massive structure has been meticulously redeveloped over the past two years by GFP Real Estate, Metro Loft, and Rockwood Capital, in collaboration with the architectural firm CetraRuddy.

The original building, known for its Brutalist architecture and minimal windows—originally designed to house computer systems—has undergone significant modifications. To introduce natural light and modern aesthetics, two central light wells were carved into the structure, and large sections of the façade were replaced with expansive windows. Additionally, a 10-story overbuild has extended the building to 32 stories, accommodating a total of 1,320 luxury residential units.

SoMA offers a variety of residences, including studios, one-, two-, and three-bedroom apartments, as well as exclusive penthouses. Each unit is designed with modern features such as home offices, high ceilings, custom Italian kitchens with paneled appliances, in-unit washer-dryers, custom solar shades, and stunning water views. Rental prices start at $3,436 per month for studios, while three-bedroom units are priced around $10,000 per month, with premium units on higher floors reaching up to $12,000 per month.

In addition to its upscale living spaces, SoMA boasts 100,000 square feet of luxury amenities, offering residents an unparalleled living experience. These amenities include a state-of-the-art fitness center, a spa with a steam room, Himalayan salt room, infrared sauna, relaxation and treatment rooms, co-working spaces, a private bowling alley, karaoke room, rooftop terrace, on-site basketball court, two pickleball courts, and two swimming pools.

As part of its commitment to accessible housing, approximately 25% of the units at SoMA are designated as affordable housing, aligning with the city’s 467-m tax incentive program to create more inclusive living opportunities in prime locations.

The successful conversion of 25 Water Street into SoMA sets a new benchmark in urban redevelopment. It exemplifies innovative approaches to repurposing commercial buildings to meet the city’s growing housing demand while preserving the historical and architectural integrity of Manhattan’s Financial District.
For more information about SoMA and available units, visit SoMA NYC.