Landmarked condo conversion in a flatiron-shaped building
At first glance, the triangular Cocoa Exchange could be mistaken for the more famous Flatiron Building by Madison Square Park, built two years earlier. But this is no copy. Originally called the Beaver Building, with fantastically carved rodent head sculptures reflecting its Beaver Street location, the firm Clinton and Russell designed the 15-story, neo-Renaissance structure in 1904 for the Munson Steamship Line. It became better known as the Cocoa Exchange after housing the New York exchange for decades, and the name stuck even after being converted to 126 condos in 2006. The building earned landmark status in 1996 for exemplifying 19th-century neo-Renaissance design, including its flatiron shape, limestone and granite facade and innovative use of terra cotta. But not everyone at the time appreciated some of these elements. In 1906 The Architectural Record reported: “The upper stories of the Beaver Building, on Beaver Street, in New York City, are decorated with panels of glazed terra cotta in bright colors; and while the brightness of the color is in itself a praiseworthy characteristic rather than the reverse, they do not, in the present instance, harmonize with each other, nor do they constitute a pleasing scheme of decoration for the top stories of a tall building.” Despite initial resistance to its architectural elements, the Cocoa Exchange has gone on to earn newfound fame as the fictional Continental Hotel in the hugely popular John Wick movies.
Most units are on the smaller side, but all contain soaring ceilings and windows
Some original interior features have been preserved, most notably the 11-foot ceilings that accommodate oversized windows overlooking equally historic buildings. Meanwhile, black-and-white wallpaper channeling an earlier period lines hallways, complemented by orange carpets. The conversion brought the building into the 21st century with PTAC units, fully equipped kitchens and in-unit washers and dryers in some cases. A large, well-maintained laundry room serves the rest of the apartments. Bathrooms favor marble and soaking tubs, with some possessing separate showers or heated floors. Studios are the most common size, making the Cocoa Exchange a good entry-level option for buyers. The smallest units measure around 361 square feet, with one recently selling for the low figure of $430,000. Three bedrooms are the largest option, netting about 1,500 square feet and recently commanding as much as $1.5 million.
Spacious rooftop terrace and adjoining multi-use lounge
The lobby impresses as well, an expansive space that exudes a clubby ambiance with rosewood floors, an aluminum leaf ceiling and Botticino marble walls. The staff also decorates it for the holidays, adding an even homier feel to this boutique condo. As a full-service building, residents pass by the door attendant before heading up to the floor-length terrace, where lounge chairs and patio furniture invite relaxation or chatting with neighbors while admiring East River views and surrounding buildings. It helps that its Financial District location is less noisy than other sections. In less ideal weather, residents can hang out in the adjacent indoor lounge equipped with a flat-screen TV, Wi-Fi and a full kitchen containing a wet bar; although sliding glass doors encourage year-round usage. Beyond this amenity, there’s also storage available for an extra fee.
Proximity to the waterfront, restaurants and an elevated park
The Cocoa Exchange is wedged between Beaver and Pearl streets, a prime Financial District location a block from Wall Street. The waterfront and East River Esplanade are a few short blocks away, as is the Elevated Park, an in-the-know public rooftop greenspace featuring prime water views. It’s connected to 55 Water, an office building, so there’s also access to an elevated Starbucks, cafe, bar and convenience store. Back below, the Cocoa Exchange is stumbling distance to the historic, bar-lined Stone Street and the recently renovated Delmonico’s, heralded as the first upscale restaurant in the country. Countless businesses have sprung up since then, like the equally upscale Crown Shy, a New American restaurant that holds a Michelin star. The Cocoa Exchange is also surrounded by healthy fast food, high-end boutiques and basic necessities populating lower Manhattan’s narrow streets.
Subways converge here and ferries are a viable option
It’s a short walk to the 2, 3 express trains at Wall Street, with the J, Z at Broad Street a block beyond. Since lower Manhattan is a major transfer point for many lines, it’s also easy to catch the A, C and 4, 5 lines at Fulton Street, a main hub, or the R, W at Rector Street. Locals also benefit from the East River Ferry a short stroll away at Pier 11/Wall Street, a popular stop for commuters to Midtown or leisure travelers to the Jersey Shore. Additional ferries to Staten Island and Governor’s Island, a favorite weekend escape for day trippers, are less than a 10-minute walk south.
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Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
4/ 10
Very Bikeable
Bike Score®
83/ 100
Walker's Paradise
Walk Score®
100/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Queen Elizabeth II Garden
1 min walk
Picnic Area
Trails
Old Slip Park
2 min walk
Mannahatta Park
3 min walk
Imagination Playground
6 min walk
Playground
Edgar H. Berger Plaza
6 min walk
Picnic Area
Titanic Memorial Park
7 min walk
Trails
Zuccotti Park
7 min walk
DeLury Square
8 min walk
Trails
Gwathmey Plaza
9 min walk
Picnic Area
Schools
Source:
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