The Civic Center neighborhood in Lower Manhattan houses mostly government offices, not people. However, several luxury developments in the area are raising the profile of this traditionally all-work, no-play zone wedged between Chinatown, Tribeca and the Financial District.
One of the buzziest projects springing up along the fringes of Civic Center is the Woolworth Building conversion by Alchemy Properties, which will put about 40 luxury apartments in the upper floors of the iconic building at 233 Broadway.
“We really could not think of another neighborhood which over the next two to five years is going to change more than this neighborhood, for the better,” Alchemy Properties president Kenneth Horn told the Wall Street Journal. “There’s going to be a whole bunch of new vitality, new night life… the neighborhood I wouldn’t exactly say is in its infancy, but it’s certainly in a redevelopment.”
The district is bound on the west by Broadway and on the east by the East River and the Brooklyn Bridge, with Chinatown to the north and the Financial District to the south. There are few residential options within Civic Center’s boundaries, but the offerings there are cheaper than the housing in surrounding neighborhoods; the median listing price is about $700 a square foot, according to the Wall Street Journal, compared to $1,500 a square foot in Tribeca and $1,059 a square foot in Chinatown.
Other new developments livening up Civic Center include 57 Reade St., with 84 condos ranging from $1.12 million to $3.16 million, and 93 Worth, which is expected to release pricing for its 93 units soon.
Transportation is a breeze in the neighborhood, with the 2, 3, 4, 5, 6 and J, Z, N and R trains stopping locally.
“It’s hustle and bustle during the day but at nighttime it’s much quieter,” Rutenberg Realty broker Barbara Kaufman told the Wall Street Journal, adding that she has lived nearby for several years. “Anything that’s a private lot that can be developed is being developed, and I think it’s going to make that area that much better.”