Battery Maritime Building and East River Waterfront

A NYCRC-managed entity provided a $77 million loan to help fund the redevelopment of the Battery Maritime Building along the East River in Lower Manhattan.

The capital facilitated the renovation and rehabilitation of an iconic-government-owned building, one of New York City’s last remaining historic landmark ferry terminals, to include a new hotel, restaurant, and event space along the waterfront. The Battery Maritime Building was built by the City of New York in 1909 and was once a major transportation facility. It was designated a New York City Landmark in 1967 but had sat vacant for years and fallen into a state of disrepair.  The redevelopment of the building has drawn more people to this area along the waterfront and allowed for expanded ferry service. The Battery Maritime Building is serving as the gateway to Governors Island, the 172-acre island in New York Harbor. The project also included the redevelopment of a portion of the adjacent East River esplanade that starts at the Battery Maritime Building.  

“The restoration of the Battery Maritime Building will have a public welfare benefit for and positive economic impact on the City and State of New York by reactivating a historic landmark building, and by increasing visitor levels and consumer spending in Lower Manhattan.”

– Kyle Kimball, Former President, NYC Economic Development Corp.