161 Water Street - Misplaced Pages

Office building in Manhattan, New York

161 Water Street
161 Water Street in 2022

General information
Type	Office
Town or city	New York City
Country	United States
Coordinates	40°42′23″N 74°00′18″W / 40.70645°N 74.005138°W / 40.70645; -74.005138
Completed	1983
Technical details
Floor area	685,000 sq ft (63,600 m)
Design and construction
Architect(s)	Fox & Fowle

161 Water Street (also referred to as the Water Street Associates Building and formerly referred to as 175 Water Street) is an office building in the Financial District of Manhattan in New York City.

History

Three commercial buildings, constructed in the 19th century, previously occupied the site. In 1982, during the course of an archaeological excavation conducted as 161 Water Street was built, an 18th-century ship was discovered. Portions of the ship and other artifacts were sent to the Mariners' Museum in Newport News.

161 Water Street was completed in 1983. The building was designed by Fox & Fowle. Before completion, the entire building was leased to National Westminster Bank. In 1995, AIG purchased the building from National Westminster Bank. The building became AIG's headquarters in 1996, and in 2021 the firm vacated the building for a new headquarters at 1271 Avenue of the Americas.

Metro Loft entered into contract to purchase the building from AIG in 2019. An entity linked to Ken Dart purchased the building from Vanbarton Group in 2022. Vanbarton sold the building after zoning changes that might have permitted the conversion of the building from an office property to housing did not occur.

The owners of the building received a tax break of $41.3 million over a 20 year period in January 2024. This tax break was granted through New York City's "M-CORE" program, which provides tax breaks to owners of office buildings with high vacancy rates, freeing funds for renovations. At the time the tax break was granted, 95% of the building's leasable space was empty.

Tenants

Tenants of the building include fashion brand Bode and Ghia, a beverage company. The building has been used as a site for parties and fashion shows.

References

^ Hu, Ray (February 2, 2024). "It Follows". New York Review of Architecture. Retrieved August 8, 2024.
^ Iredale, Jessica (November 29, 2024). "The Price of Being Cool? A Quarter-Billion Dollars". The New York Times. Retrieved December 2, 2024.
^ Florsheim, Lane (August 4, 2024). "Big Banks Deserted Wall Street. Then the Cool Kids Moved In". The Wall Street Journal. Archived from the original on August 4, 2024. Retrieved August 4, 2024.
Quinlan, Adriane (April 17, 2024). "A Fidi Office Building With a Wait List". Curbed. Retrieved August 4, 2024.
^ Riess, Warren Curtis (December 14, 2023). Studying the Princess Carolina: Anatomy of the Ship That Held Up Wall Street. Texas A&M University Press. ISBN 978-1-64843-111-1. Archived from the original on August 5, 2024. Retrieved August 5, 2024.
"SHIP IS UNEARTHED AT WATER STREET". The New York Times. February 26, 1982. Retrieved August 5, 2024.
Baird-Remba, Rebecca (September 28, 2020). "Downtown 1980s Office Tower Gets a Fresh Look". Commercial Observer. Archived from the original on August 4, 2024. Retrieved August 4, 2024.
Oser, Alan S. (August 8, 1982). "DEVELOPMENT RETURNS TO WALL STREET AREA". The New York Times. Retrieved August 8, 2024.
Holusha, John (November 12, 1996). "Insurer Plans 1,800 New Jobs in Manhattan". The New York Times. Retrieved August 5, 2024.
Cunningham, Cathy (October 13, 2022). "Former AIG HQ at 175 Water Street Sells for $252M". Commercial Observer. Archived from the original on July 14, 2024. Retrieved August 4, 2024.
Bockmann, Rich (August 16, 2019). "FiDi office-to-resi guru Nathan Berman's next big project is AIG's HQ". The Real Deal. Archived from the original on August 4, 2024. Retrieved August 4, 2024.
Bockmann, Rich (September 19, 2022). "Reclusive billionaire buying former AIG headquarters". The Real Deal. Archived from the original on August 4, 2024. Retrieved August 4, 2024.
Badger, Emily (July 1, 2023). "American Cities Have a Conversion Problem, and It's Not Just Offices". The New York Times. Archived from the original on August 6, 2024. Retrieved August 5, 2024.
Baird-Remba, Rebecca (January 23, 2024). "NYC Grants $100M Tax Breaks to Struggling Manhattan Office Buildings". Commercial Observer. Archived from the original on August 6, 2024. Retrieved August 6, 2024.
Moses, Paul (January 23, 2024). "Adams to Grant $100 Million in Tax Breaks for Two Office Building Upgrades". THE CITY – NYC News. Retrieved August 6, 2024.
Westenhaver, David (January 27, 2024). "The Daily Dirt: City throws $100M lifeline to sinking office towers". The Real Deal. Retrieved August 8, 2024.

Financial District

Manhattan, New York City

Buildings

West of Broadway/ State Street	1 Broadway 21 West Street 65 Broadway 90 West Street 88 Greenwich Street 94 Greenwich Street 125 Greenwich Street 130 Cedar Street 195 Broadway American Stock Exchange Building Barclay–Vesey Building Bowling Green Offices Building Castle Clinton City Pier A Cunard Building Downtown Athletic Club Empire Building Firehouse, Engine Company 10 and Ladder Company 10 James Watson House New York County Lawyers' Association Building Old New York Evening Post Building Robert and Anne Dickey House St. George's Syrian Catholic Church St. Paul's Chapel St. Peter's Roman Catholic Church Transportation Building Trinity and United States Realty Buildings Trinity Church Trinity Court Building Whitehall Building World Trade Center One 2 3 4 7 Perelman Performing Arts Center St. Nicholas Greek Orthodox Church Vehicular Security Center Westfield Mall
East of Broadway/ State Street	1 Hanover Square 1 New York Plaza 1 Wall Street 1 Wall Street Court 1 William Street 2 Broadway 2 New York Plaza 5 Beekman Street 14 Wall Street 15 Broad Street 15 William 17 State Street 19 Dutch 20 Exchange Place 23 Wall Street 25 Water Street 26 Broadway 28 Liberty Street 32 Old Slip 37 Wall Street 40 Wall Street 45 Broad Street 48 Wall Street 52 Broadway 55 Broad Street 55 Wall Street 55 Water Street 56 Beaver Street (Delmonico's) 56 Pine Street 60 Wall Street 63 Wall Street 63 Nassau Street 70 Pine Street 75 Wall Street 90–94 Maiden Lane 116 John Street 120 Wall Street 130 William 140 Broadway 150 Nassau Street 161 Maiden Lane 161 Water Street 170–176 John Street 250 Water Street Alexander Hamilton U.S. Custom House American Bank Note Company Building American Surety Building Bennett Building Broad Exchange Building Chamber of Commerce Building Continental Bank Building Continental Center Corbin Building Down Town Association Equitable Building Excelsior Power Company Building Federal Hall National Memorial Federal Reserve Bank of New York Building Fraunces Tavern Home Insurance Plaza John Street Methodist Church Keuffel & Esser Company Building Lee, Higginson & Company Bank Building Liberty Tower Morse Building New York City Police Museum New York Stock Exchange Building New York Times Building Park Row Building Potter Building
Former buildings	Alexander Macomb House Astor House Barnum's American Museum Blair Building City Hotel City Investing Building Equitable Life Building Gillender Building Gilsey Building Government House Hanover National Building Howard Hotel Kemble Building Knickerbocker Trust Company Building Manhattan Life Insurance Building Mills Building Mortimer Building New York Produce Exchange New York Tribune Building New York World Building Pearl Street Station St. Paul Building Singer Building Stadt Huys Tontine Coffee House Tower Building Western Union Telegraph Building World Trade Center 3 4 5 6 7

Other points of interest

Arts and culture	Charging Bull China Chalet Fearless Girl Four Continents The Sphere Titanic Memorial
Parks and plazas	Austin J. Tobin Plaza‎‎ (former) The Battery Bowling Green Elizabeth H. Berger Plaza Hudson River Park Imagination Playground Liberty Park Louise Nevelson Plaza Queen Elizabeth II September 11th Garden Vietnam Veterans Plaza Zuccotti Park
Food and drink	Brasserie Les Halles China Chalet Crown Shy Delmonico's Fraunces Tavern Rolfe's Chop House Saga The Dead Rabbit

Education

Schools	High School of Economics and Finance Leadership and Public Service High School Léman Manhattan Preparatory School Millennium High School New York Film Academy Pace University Pine Street School New York
Museums	China Institute Federal Hall National Memorial Fraunces Tavern George Gustav Heye Center Mmuseumm Museum of American Finance Museum of Jewish Heritage New York City Police Museum Skyscraper Museum South Street Seaport

Transportation

Public transport	Subway Bowling Green Broad Street Fulton Street Rector St/Greenwich St Rector St/Trinity Pl South Ferry/Whitehall St Wall St/William St Wall St/Broadway WTC Cortlandt PATH World Trade Center Ferries Pier 11/Wall Street South Ferry Battery Maritime Building Whitehall Terminal
Other transport	Downtown Manhattan Heliport Wall Street Skyport
Streets	Albany Beaver Bridge Broad Broadway Church/Trinity Place Cortlandt Dey Exchange Fulton Greenwich John Liberty Maiden Lane Marketfield Nassau Pearl South Spruce State Stone Theatre Alley Vesey/Ann Wall Washington West Whitehall William

See also: Manhattan Community Board 1

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