Setai New York - 40 Broad Street

[Front_Porch]

Going to see it this weekend with a client, and realize there's no thread, so pile in, boys and girls.

The Setail (New York): 30 Story post-war office building conversion at 40 Broad Street.

The website is here: http://www.setainy.com

ali r.
{downtown broker}

[Scraperfannyc]

Over 12 million square feet of office space downtown have been converted into apartments already. Doesn't that take away from the business character of the financial area? Or does if feel like nothing has changed? I don''t work here, so I do not know. What is the community like nowadays in the financial area after office hours?

[Front_Porch]

You might want to ask Stern, since he nearly lived there till he found a deal elsewhere.

My take on it, expressed elsewhere in this forum, is that downtown is becoming the "new Midtown" -- lots of tall buildings, so even as some of them get converted to residences, there are plenty of other places to work; luxury stores such as Tiffany's coming; great transport access; a lack of grocery stores.

Since it's not a pretty residential area, the price per square foot is still slightly lower than in other areas of the City.

My current client is a financial executive who is looking for a pied-a-terre, so hotel-style developments such as Cipriani and Setai might be great for him.

I realize they're not for everyone, though.

ali r.
{downtown broker}

[Peteynyc1]

I like the lobby and the roofdeck level ammenities look great as well. Let us know how you liked it. I like the whole zen living effect they are going for. Whats the price per sq ft on average?

[fifreak]

I went to their sales pitch once. The big feature is the setai club which is a very exclusive club for residents and select outside members. This club has it's own restaurant among other things. The have beautiful wine cases you can have optionally installed in the apartment. I remember the apartments being rather small. In this place you pay for the amenities.... big time. Oh yeah one thing I liked from renderings was the floors in the apartments has stone trim around the edges of the hardwood.

[kliq6]

Over 12 million square feet of office space downtown have been converted into apartments already. Doesn't that take away from the business character of the financial area? Or does if feel like nothing has changed? I don''t work here, so I do not know. What is the community like nowadays in the financial area after office hours?

Still feels empty, not as much during the week but weekends are less crowded. Tourists in the area keep it busy however

[NewYorkDoc]

Still feels empty, not as much during the week but weekends are less crowded. Tourists in the area keep it busy however

A few places they keep it busy: Fulton, Seaport, Broadway, WTC, Wall, Battery. Other than that, at night it just seems so lonely to me. I realize a lot of people have moved down here (I live on Fulton right now), but it still has a way to go. Needs more things to stay open later.

[ablarc]

I realize a lot of people have moved down here (I live on Fulton right now), but it still has a way to go. Needs more things to stay open later.
So what's keeping down the entrepreneurial spirit?

[BrooklynRider]

The instability of retail spaces due to properties changing hands, new transportation construction (which is a killer to sidewalk pedestrian traffic), a new crop of residential influx (whose buying patterns haven't been calculated), high rents for existing spaces that make supportive retail (i.e. supermarkets and after hour service stores) unable to get a foothold, and streets and buildings that are not conducive to trucks needed for restocking supplies.

[brianac]

40 Broad Street

http://www.lowermanhattan.info/images/construction/project_updates/041607_40_Broad_Street.jpg

The Setai Group and Zamir Equities, New York-based development firms, are converting a 25-year-old office building located at 40 Broad Street into The Setai New York, a luxury condominium. The building is being redesigned by Jean-Michel Gathy of Denniston International, an architecture firm based in Kuala Lumpur, Malaysia. Gathy also designed The Setai, South Beach, in Miami. The Setai New York, billed as "a mantra of serenity and calm," is located in the Financial District.

Summary
The 31-story tower conversion will include 167 studio, one-, two- and three-bedroom units, ranging from 475 to 3,424 square feet. The building will feature a glass exterior allowing utilization of natural light. The lobby will boast 20-ft. ceilings and teal lattices, along with Thai silk and handcrafted bronze panels.

Daily Activities
The following information was last updated on April 23, 2008.
Hoisting steel on Broad Street starting February 2, with partial lane closures 5:00-8:30 AM and 6:00 PM - 12:00 AM. Steel erection to begin afterwards.
Renovations began in the fall of 2006 and are expected to be completed by September 2008. Occupancy is expected by November 2008.


© 2007 Lower Manhattan Construction Command Center/LMDC

[londonlawyer]

This building sucks. Anyone who buys there is a fool.

[v70cat]

Man thats a strong statement, why do you say that?

[Peteynyc1]

The Setai New York, billed as "a mantra of serenity and calm," is located in the Financial District./LMDC

Of course its serenity and calm. So calm and serene that you cant even find any people down there after 8pm :D

[eddhead]

unless you go down the old fish market area, a couple of blocks west from south street. quite a few trendy bars and restaurants are going up inland from the Old Slip area. I was there on a friday night a short time ago and was kind of surprised at what was there and how busy it was.

[figureof8]

So has anyone seen it yet? Any opinions/impressions?

Thanks.

[KenNYC]

Noticed the thread was getting old, but still unanswered. I was there today and the doorman let me in to the building although none of the sales people were at work... I can only assume this was a major slip-up, but anyway... The building is great, I absolutely love the style, 88 Greenwich with some Asian inspiration. Entire atmosphere is very dark, which I absolutely love. Both the modern and classic design apartments look absolutely splendid. I took a good few pictures, but since I was just walking around alone, I'll hold on posting them for now. Going back this weekend to talk to the sales people, I'll throw up something then. But as far as design goes, this building is beautiful.