for Bloomberg: JPMorgan’s Former ‘Punch Card’ Building Unveils $10,000 Rentals by José A. Alvarado Jr.

News

for Bloomberg: JPMorgan’s Former ‘Punch Card’ Building Unveils $10,000 Rentals

josé a. alvarado jr.

May 22, 2025

Summary

Apartments in the 55-year-old building, originally built to house computers, are hitting the market.

The nation’s biggest office-to-residential conversion is hitting the market with 1,300 apartments carved from a million-square-foot brick fortress originally built to house computers — and not much else.

After a two-year transformation, the 55-year-old building in Manhattan’s financial district — used for years to process checks, money transfers and other paperwork for Manufacturers Hanover Trust and then later, for back-office staff at its successor bank, JPMorgan Chase & Co. — is now unrecognizable.

Broad swaths of intricate brickwork that separated the few windows marking the façade of 25 Water St. have been removed and replaced with, well, windows.

Photographed for Bloomberg, with words by Nacha Cattan.

https://www.bloomberg.com/news/features/2025-01-29/jpmorgan-s-old-punch-card-building-at-25-water-street-unveils-apartments

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José A. Alvarado Jr.

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