Look who's behind Manhattan's hottest new hotel

What do you do when you're an Australian dynastical family - in this case the Paspaleys of Paspaley Pearls fame - and you want somewhere permanent to stay in New York that exactly suits your tastes? You design a hotel, of course. The result is the grand and gracious Wall Street Hotel, which sits - fittingly - between Water and Pearl streets in a converted 18th-century former stock exchange in the heart of the newly reinvigorated Financial District. Opened in mid 2022, this ocean-hued beauty blends New York elegance with Australian dynamism.

Since the pandemic, the cliche of FiDi being full of suits barking buy/sell orders into their cellphones has practically vanished. Many of the big banks have left the area, and the district's historic buildings have been converted to apartments, so these days you're much more likely to encounter young couples walking pugs than stressed-out traders. It's fabulously central: the 9/11 Memorial is within walking distance, Midtown is a few subway stops north and it's an easy dash across the Hudson to Brooklyn.

Lush drapes, velvet lounges and a fireplace salvaged from the former Waldorf Astoria all read old-school, old-money New York. But look closely and you'll see a few elegant Australian touches, too, such as Indigenous art from APY Lands artists in most rooms. Pearl references are also hidden in the patina if you keep your eyes peeled, such as the abstract oyster silk-screen prints above the beds and mother-of-pearl inlays in the bathroom tiling in the suites.

Frette linens and cashmere throws are the starting point for the luxury touches in each of the 180 rooms and suites. There's also underfloor heating, Acqua de Parma toiletries and Bang & Olufsen sound systems, plus the most tempting open brass bar cart you can imagine (consider buying one of the oyster shell-shaped bottle openers as a souvenir). The loveliest room of them all isn't necessarily the most expensive: the corner Carnegie Suite, with its standalone bathtub, one-touch fireplace and river views may be the best bed in the building.

The hotel's restaurant, La Marchande, leans a little bit French, a little bit American and a little bit South-East Asian, and you can even sense a bit of an Australian influence in there too (hello breakfast avocado toast). The mother-of-pearl ice bar is filled with briney bivalves every day: happy hour heaven with a glass of Kuentz-Bas d'Alsace brut. Stick around for dinner and segue into steak frites or pot au feu.

The gym is functional but small and there's no pool or spa, so you're really staying here if you want to explore the city, or relax for a drink at either La Marchande or the lobby bar. Your concierge is on hand to magic up exclusive experiences if you ask: book Broadway tickets, make restaurant reservations, or organise flowers in your room. Other hotels may be packed with flashy features, this feels more like the perfect New York pied-a-terre.

Every surface and textile in this beautifully designed hotel sings but the lobby bar, Lounge on Pearl, is probably the biggest showstopper. The walls are decorated with a fantastical frieze of the New York skyline. Even the double-height ceiling is worth gazing at, painted with giant scalloped flowers. Even if you're not a guest, stopping in here for a martini is about as New York glamour as it gets.

Alexandra Carlton was a guest of the Wall Street Hotel.

Where: The Wall Street Hotel, 88 Wall Street, New York City

How much: From $US499 ($740)