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The Cost of Being Cool: $250 Million.

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The WSA building in New York City has quickly gained popularity as a trendy and exclusive venue for parties, attracting a mix of artists, celebrities, and influencers. The building, located at 175 Water Street in the financial district, has become a hub for those seeking a unique and stylish event space.

Originally built in 1983 as the global headquarters of A.I.G., the building was sold in 2019 and remained largely vacant during the pandemic. In late 2022, it was purchased by an LLC named 99c for $252 million. The new owners embarked on a $150 million renovation project to transform the building into a modern and vibrant space.

The WSA building has now become a sought-after destination for creative individuals and businesses, with many tenants enjoying below-market rents. The building’s owners received a $41.3 million tax break from a New York City government program to support their redevelopment efforts.

The building has hosted a series of high-profile events, attracting guests like Emily Ratajkowski, Kendall Jenner, Lana Del Rey, and Bad Bunny. Notable figures such as Sir Lewis Hamilton, Tim Cook, and Donald Glover have also been spotted at events held in the building. The WSA building has become a popular setting for social media content and has garnered significant press coverage.

Overall, the WSA building has emerged as a symbol of the city’s evolving cultural landscape, blending art, fashion, and entertainment in a dynamic and innovative way. Its unique appeal and exclusive events have solidified its status as a must-visit destination for those seeking a taste of New York City’s vibrant social scene.

Source: The NY Times

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