Stone Street: A Walk Through New York City History with Elliman’s Marc Palermo

As could be inferred from its name, Stone Street, located in the Historic Financial District just off of Wall Street, is one of New York’s oldest streets and, yes, in 1658 became the first paved roadway in New Amsterdam (as the city was then referred). The street’s history is as storied as the cobblestones that ultimately named it. In the 1600s, it was home to the first commercial brewery in North America, with its stores and accompanying lofts crafted for import merchants. Today, thanks to legendary historic preservationist and visionary Tony Goldman, as well as city landmark protections declaring a ‘ Stone Street Historic District’ , Stone Street is a pedestrian-only walkway lined with lively bars and restaurants that has preserved much of its history and presents perhaps one of the most unique mixed-used real estate opportunities in Manhattan. “Stone Street was New Amsterdam’s original, on purpose, pedestrian friendly, outdoor eating and drinking street. There has rarely been an opportunity to own so much history.” – Marc Palermo, Douglas Elliman A cradle of early commerce and civic activity, “Stone Street was New Amsterdam’s original, on purpose, pedestrian friendly, outdoor eating and drinking street,” said Marc Palermo , an associate broker with Douglas Elliman who was among those instrumental in helping preserve Stone Street in the 1990s and is now representing the sale of three buildings centrally located on the preserved block – 52 Stone Street and 53-55 Stone Street. He shares the listings with Louis Puopolo of Douglas Elliman Commercial . The Stone Street Portfolio, encompassing 22,852 square feet, is listed at $20.75 million. “Rarely does the chance come around to purchase such a controlling share of one of the city’s most historic streets,” said Palermo. “This is such a richly historic area of the city, and the buildings are irreplaceable.” Facade, 53 Stone Street   All classic examples of Dutch Revival , the three buildings together offer 10 free-market two and three bedroom loft rental residences and three operating restaurants. “We want to find the right buyer because we love this block and want to see it continue to flourish.” Palermo said they’re searching for the right buyer, as the person who owns these three buildings will have a significant impact on the district as a whole. For someone who was among those fighting to preserve Stone Street 30 years ago, the story has come full circle for Palermo. “We want to find the right buyer because we love this block and want to see it continue to flourish,” he said. “It’s definitely a unique situation,” he added. “This is original New Amsterdam, one of New York City’s oldest streets. There has rarely been an opportunity to own so much history. That’s special.” Contact Marc Palermo to find out more about The Stone Street Portfolio.