This renovation is amazing.
High quality materials give the building a whole new look style while being similar to it’s original look.
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It makes me wonder whether that’s how good it originally looked, and time wore it down
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This building still looks like crap. They should have razed it and built condos.
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looks like there is financial trouble behind the scenes.
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The sponsor is in deep trouble.
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Either the building will be completely renovated after the forced sale so that it can be resold. Or this probability is lower that it will be demolished to make way for a new skyscraper.
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Might be converted into 1,300 residential units
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If that plan goes forward they’ll have to replace almost every single window that was just replaced with an operable one.
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I think this one is going to be difficult to convert without using similar tactics to the other FiDi one that recently underwent conversion (can’t remember the name). The floor plates are relatively large and the building has a side core, which makes things even more difficult.
But the conversion is much needed.
Developers are seeking a construction loan of about $850 million to convert Manhattan’s 111 Wall St. into more than 1,500 apartments in what would be one of the largest office-to-residential projects in the city’s history.
InterVest Capital Partners is working with advisers from Walker & Dunlop New York Capital Markets to line up financing for the transformation, people familiar with the process said. The loan would represent about 65% of the total project costs and allow for the addition of five stories to the existing building, according to one of the people, who asked not to be named discussing the financing process.