REAL ESTATE

A hotel and retail are planned for American Stock Exchange

BY Al Urbanski

In 1921, the New York Curb Market Agency decided to move its longtime practice of stock trading off the streets and indoors to a building on Greenwich Street in Lower Manhattan. Now the original home of the American Stock Exchange will be housing curb retail.

In a joint venture, GHC Development and Clarion Partners will be reconfiguring and offering up 123 Greenwich Street — just one block from the World Trade Center — to retailers and other commercial ventures.

GHC Development acquired the property and the adjacent 22 Thames Street development site in 2011 and worked with the Landmarks Preservation Commission to separate the assets and transfer air rights to the development site. GHC, which sold the site in 2012, now is focused on remaking it with a high-rise hotel with retail tenants at street level.

Retail GLA will comprise approximately 80,000 sq. ft. over three levels, including two distinct 25,000-sq.ft. column-free floorplates with ground-floor identity and entrances fronting both Greenwich Street and Trinity Place.

GHC CEO Allan Fried sees the property playing an important role in what he calls the “transformative renaissance of Lower Manhattan. “This trophy property represents a singular opportunity for a retail or entertainment user…to create a one-of-a-kind presence and experience,” Fried submitted.

The original building was designed by architects Starrett and Van Vleck, the same firm that designed the Saks Fifth Avenue, Bloomingdale’s, and Lord & Taylor flagships in New York.

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