Rare ‘Piece of NYC History’ on Sale in 1913 Skyscraper at Staggering $18.5M
“Few buildings in the world carry more cultural weight and architectural provenance” than this tower, a real estate broker said.
The Woolworth Building, a 40-story Gothic-style skyscraper located in Lower Manhattan, was completed in 1913 and served as the world's tallest building for some time. Designed by renowned architect Cass Gilbert, the building sits atop the iconic Woolworth Company headquarters. Today, a rare 4-bedroom, full-floor residence on the 40th floor is up for sale for an astonishing $18.5 million.
The sale, listed by The Corcoran Group, is a unique opportunity for a buyer to own a piece of New York City history. The residence, known as Residence 40, features soaring 15-foot ceilings and the original polychromatic terra-cotta detailing surrounding the windows. The 4,600-square-foot home offers breathtaking views from 516 feet above City Hall Park.
Michelle Griffith, a luxury real estate broker at Douglas Elliman, highlighted the Woolworth Building's historical significance, noting that it is considered one of Gilbert's crowning achievements alongside other significant buildings such as the U.S. Supreme Court Building. She added that today's luxury buyers value homes with character, provenance, and a story, making the Woolworth Building residence an ideal choice.
The trend of converting historic buildings into luxury residences is growing, with nearly 25,000 apartments created from repurposed buildings in 2024, a 50 percent increase from the previous year. This shift is driven by environmental benefits, as adaptive reuse can reduce carbon emissions by 50 to 75 percent compared to new construction. Additionally, older buildings offer a level of craftsmanship, architectural details, and authenticity that is difficult to replicate in modern construction.
Architect Eric Robinson of RODE Architects emphasized the unique value of historic buildings, stating that their connection to historical detail, materials, and construction quality creates a rich environment that is hard to match today. He also pointed out that many of these historic structures are located in desirable downtown neighborhoods, close to amenities and transportation, making them highly desirable for discerning buyers.
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