Apartment rentals New York with 37 Wall Street

We've never been afraid to say it here at the Luxury Rentals Manhattan blog: Frank Gehry’s new Financial District rental at 8 Spruce Street is jaw-dropping. The Spruce Street project -- formerly known as Beekman Tower and still kind-of-known as 8 Spruce Street -- is called New York by Frank Gehry. Not only is the new Gehry rental the the tallest luxury residential building in New York City, it is also one of the most-celebrated new construction apartment buildings the city has seen in years.   If you move around the tower the shape changes constantly. Why? Well, because of its rumpled stainless skin, its curved windows and, perhaps, the vertiginous 76-story height that makes it look something like the Transformers’ headquarters. In short, 8 Spruce Street sits on the northern edge of the Financial District; west of Cass Gilbert’s 1913 Woolworth Building, east of McKim, Mead & White’s 1912 Municipal building, and at the top of any list of new Manhattan rental listings worth celebrating.

The meticulous renovation of the pre-war luxury rental building at 37 Wall Street in the Financial District speaks to the care with which architect Costas Kondylis turned famed architect Francis Kimball's original Beaux-Arts structure into one of the more desirable rental listings in the Financial District. It's a luxury rental through-and-through, but 37 Wall Street is also something else -- a test-case in a lawsuit that's looking to extend rent-stabilization to all buildings, luxury rental buildings in the Financial District notwithstanding, that were constructed with the benefit of New York's 421g tax breaks. The renovation of 37 Wall Street benefitted from those tax breaks in funding its overhaul into luxury rental apartments, and the New York Times reports that a December housing court decision could pass those benefits on to the residents at 37 Wall Street through eviction protections and, maybe, rent reductions. Suffice to say that the developers behind 37 Wall Street are not pleased.