The Friends actor purchased the 1852 East Village home for $4.1 million in 2010, and had been sent several letters from the Landmarks Preservation Commission about the landmark status plans for late 2012.
However, months after purchasing the property the director chose to destroy it in order to replace it with a six-storey modern mansion, reports the New York Post.
Several neighbours have voiced their outrage following Schwimmer's decision to tear the building down.
"All the new people are yuppie transients. If I see David Schwimmer on the street, I'll be sure to give him my two cents", contractor Charlett Hobart said.
"People who have been living here a long time don't like new people coming in and tearing down old buildings."
City employee Jay Russo added: "The Landmarks Commission is looking into these buildings, but before they are landmarked, people are coming in and tearing down the buildings."
David Schwimmer renewed his wedding vows with his British wife Zoe Buckman in London last year.
> David Schwimmer: 'I want to star in Sherlock, Luther'