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Developer to unveil Downtown conversion.

This month, Crescent Heights, a national real estate developer, will unveil the future of residential real estate in Manhattan - "The Exchange" at 25 Broad Street.

This magnificent turn-of-the-century building, the first major residential project to be unveiled in the Wall Street area, has catalyzed the transformation of Manhattan's once ailing Financial District. The Exchange has been restored to its original 19th Century grandeur and updated with the most advanced 21st century technology. With amenities and design creativity never before introduced to the New York City market, The Exchange has set a new standard in New York's newest neighborhood.

The Exchange offers luxurious one-, two-and three-bedroom residences with prices starting at $1,750 per month. The 21-story building, a sensitively-restored landmark with up-to-the-minute fiber optic capabilities, offers such high-tech amenities as T-I connections to the Internet, ISDN wiring and simultaneous telephone and modern lines for each of its 345 units.

Pre-War Graciousness for The Urban Pioneer

By simply setting foot inside The Exchange at 25 Broad Street, one is transported back to an era of uncompromising luxury and elegance. Situated opposite the New York Stock Exchange, the building was one of the nation's first skyscrapers and New York City's largest and most valuable building. As was the style of the time, the building's lobby was constructed to convey a sense of classicism and solidity, employing rich materials such as imported marble and gold leaf detailing.

"The builders of this extraordinary building probably never envisioned it being converted to luxury residential apartments," said Bruce Menin, president of Crescent Heights. "But we consider it a great honor to have the opportunity to restore the remarkable original detail of this structure and make it available to the public."

Historically-Sensitive Renovation With High-Tech Features

Crescent Heights took great pains to renovate the landmark building in a way that preserved its integrity, but gave the modern consumer a host of uncommon amenities. "What we had to work with," said Menin, "was not ideal by modern residential building standards. It was a 17,000 square-foot floorplate laid out in the shape of a 'T.' Instead of attempting a costly restructuring of each floor, we chose to recognize the benefits of the existing floor layout - the T shape meant more exterior surface area and more light for our residences."

Crescent Heights's commitment to making The Exchange as technologically-advanced as possible will also benefit its residents. Category Five wiring has been installed throughout the building, with a minimum of eight pair of wires going to each apartment. That means each apartment has the capability of having a modem, a fax line and two or three phone lines. The building also offers each residence T-1 connections to the Internet.

Couple that with The Exchange's roster of amenities - from a private health club, a business center and first-class building services to master bedrooms with old-world style, including separate dressing areas, walk-in closets and elegant baths with double sinks and historically-appropriate light fixtures - and one soon understands what makes this new residence special.

"It is The Exchange's combination of white-glove amenities and unusual technological capabilities like T-1 connections and ISDN phone lines that we believe has caused the consumer to take such interest in us," said Menin. "We've seen incredible consumer response to this project well before any formal marketing efforts have begun. To date, nearly 1,000 people have expressed an interest in leasing at the Exchange - both in person and through our website ("

What consumers are discovering is what many New Yorkers knew over a century ago - that Lower Manhattan offers some of the finest historic architecture, scenic vistas and proximity to dining and cultural attractions in the areas of SoHo, TriBeCa and Wall Street. According to Menin, "The Exchange's location and the building's dramatic appointments will make it one of the preeminent addresses anywhere, in Manhattan - let alone the Wall Street area."

Crescent Heights is an established real estate development and marketing company which specializes both in condominium conversion and management of large high-rise apartment and hotel buildings. Crescent Heights has developed luxury homes nationwide for over 20 years and is committed to the highest standards of quality in all of its projects. By providing quality design and construction at affordable prices, Crescent Heights has become one of the nation's most. recognized converters of residential real estate.
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Title Annotation:Crescent Heights; Manhattan, New York
Publication:Real Estate Weekly
Date:May 21, 1997
Previous Article:Brooklyn's Renaissance Plaza typifies new construction trend.
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