Another conversion on 3rd Ave.
111 Wall Street
Conversions & Demolitions Reducing U.S. Office Supply | CBRE
Figure 4: Top Markets for Underway & Planned Conversions
Damn los angeles not even on the chart. They’re not doing conversions?
64 Fulton Street
The 11-story building currently has 48 commercial units and three residential units. Post-conversion, the 41,369-square-foot building will have 49 residential units spanning floors three through 11. The current plan calls for the units to consist of 18 studios, 22 one-bedrooms and eight two-bedrooms with two loft tenants remaining — though Steven Ancona , Flatiron’s president, told Commercial Observer in an email that the plan might be tweaked. Unit sizes are expected to range from 325 to 900 square feet. The project will benefit from the city’s 467m tax-abatement program to make 12 of the units affordable.
40 Exchange Place
GFP Real Estate has filed plans to convert 40 Exchange Place — a 20-story, 240,000-square-foot office tower in Manhattan’s Financial District — into a mixed-use development with 382 residential units and ground-floor retail, according to the Commercial Observer.
440 West 57th Street
A Hell’s Kitchen hotel used as a temporary migrant shelter for several years is poised to be converted into permanent residential housing, records show.
Tomer Posner, managing director of development at Midtown-based Yellowstone Real Estate Investments, filed plans with the Department of Buildings last week to convert the 600-key Watson Hotel at 440 W. 57th St. into 249 apartments, records show.
17 East 47th Street
Simon Lichtenstein submitted plans to the city this week to tack an additional 6 stories onto 17 E. 47th St. — formerly the Center for Fiction — and turn it into a mixed-use building with apartments as well as commercial space on the ground floor, according to permits filed with the Department of Buildings.
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The existing 8-story property, between Madison and Fifth avenues, was home to the Center for Fiction until 2017, when it closed in preparation for its 2019 move to Brooklyn. Founded in 1820 and formerly known as the Mercantile Library, the literary nonprofit is now located at 15 Lafayette Ave. in Fort Greene.
The proposed conversion of the historic structure into a 14-story mixed-use building includes 19 dwelling units on floors two through 14 spanning about 25,290 square feet, along with about 500 square feet of commercial space on the first floor. The apartments on the upper floors — it’s unclear if they would be condos or rentals — would have terraces, records show. The roof would include an outdoor recreation area, and the cellar would have a gym as well as space for eight bicycles.
It’s unclear when construction would break ground or how much the conversion would cost. An estimate listed with the Department of Buildings quotes $3.2 million, although those approximations are often significantly lower than the final price tag.
previous proposal to add floors to make it a hotel:
This building participated in Open House NY for a few years but I never made it there. 
There’s a table at the end showing all the buildings being converted.
6 East 43rd Street
I missed this from a few months ago
Vanbarton plans to convert the roughly 300,000-square-foot office property — which is currently home to the Milstein family’s Emigrant Bank offices — into 450 to 500 rental apartment units, according to The Real Deal , which first reported the news.
139 Franklin Street
442 East 119th Street
A historic Harlem church that was sold to a Brooklyn developer is poised to be converted into residential housing, records show.
Shimshon Grunstein, who recently acquired the former Roman Catholic Church of St. Paul and Holy Rosary for $5 million in an all-cash deal, filed plans with the Department of Buildings this week to convert one of the religious institution’s properties, 442 E. 119th St., into a 6-story residential building with 88 dwelling units, records show.
80 Pine Street
Joseph Hoffman’s Bushburg landed a $320 million construction loan for one of the city’s biggest office-to-residential conversion projects.
Bridge City Capital and Deutsche Bank provided the financing for Bushburg’s partial conversion of the 1.2 million-square-foot building at 80 Pine Street, the lenders told The Real Deal.
Bushburg paid $160 million last year to buy the 40-story skyscraper from the Rudin family, which developed the property in 1960. The building is about half empty, and Bushburg has already started converting floors 2 through 17 into 713 rental apartments.
Because a portion of the building is dedicated to office and the other is a conversion, the project proved tricky for some lenders to get comfortable with, according to Arrow Real Estate Advisors’ Morris Betesh, who arranged the financing.
“There were some people who had concerns about that, but there’s plenty of projected cash flow exclusively from the residential portion that more than justifies the overall loan,” he said.
Construction started earlier this year, and the first phase of apartments is expected to come online in January.
The project is using the state’s 467-m tax incentive program, which provides a 35-year tax exemption in exchange for office converters setting aside 25 percent of a project’s units for renters earning an average of 80 percent of the area median income.
The property at 80 Pine joins a growing list of office-to-residential conversion projects that have gotten underway as developers have been able to find outdated office buildings at attractive prices.
Nathan Berman’s MetroLoft Management is behind a number of large projects, including the conversion of the former Pfizer headquarters in Midtown — which, at 1,600 units, is the largest conversion in history.
Vanbarton Group also has projects underway, slated to deliver more than 2,200 units.
101 Franklin Street
135 East 57th Street
The family real estate firm signed a ground lease with the Wallace family that will allow TF Cornerstone to turn the 32-story office tower at 135 East 57th Street into a residential property, adding to the city’s housing stock amid a national shortage.
The narrow structure’s 12-foot ceiling heights and floor-to-ceiling windows means that natural light will be able to penetrate the floor plates, which range from 5,700 to 14,000 square feet. Typical offices in New York have floor plates between 30,000 and 50,000 square feet. Floor plates in the 10,000-square-foot range are rare, according to Shell.
The majority of the rooms in the residential units will be on the perimeter of the building, giving them access to light, though there might be a few rooms in the units that don’t have windows.
The project is expected to be completed by 2028, according to Shell.
144-02 135th Avenue (Queens)
356 hotel rooms, double-loaded corridors, precast plank and concrete walls, a glass-enclosed pool, sheetrock walls, ribbon glass windows. These were the building blocks of the JFK Hilton Hotel, built in 1987, that operated for 35 years until it closed in 2023.
Architects cut, molded, and reconfigured those pieces to turn that behemoth structure into 318 affordable homes. Hundreds of formerly homeless residents will move in this fall.
BH3, Capstone Buy Savanna’s 141 Willoughby via Foreclosure
The joint venture acquired the 24-story, 400,000-square-foot building from Savanna through a foreclosure and is now seeking to convert part of the tower into 200 residential units.
The developers plan to add both market-rate and affordable housing with residences spanning studios all the way up to three bedrooms. Only floors two through seven of the 24-story building will consist of office space.
The conversion is expected to start in 2026.
47 Hall Street (Brooklyn)
RXR’s campus would span 933,000 square feet across both converted buildings and new construction. There would be 620 apartments — including 150 to 180 affordable units — 48,000 square feet of retail space, 161,000 square feet of self-storage space and 36,000 square feet for parking.
The development site is a full block between Park and Flushing avenues, under the Brooklyn-Queens Expressway and across the street from the Brooklyn Navy Yard.
The property has been vacant since 2023, when it was leased to New York City Health + Hospitals to be utilized as a migrant shelter. Portions of the space have been used to house more than 3,000 asylum seekers.
509 Madison Avenue
A Midtown developer that years ago put its leasehold of a Madison Avenue officer tower on the market is now looking to convert the property into a “world-class hotel,” records show.
Kensico Properties, led by Nabil Chartouni as chairman, this week filed a rezoning application with the Department of City Planning to convert and redevelop the 21-story Class A office building at 509 Madison Ave. into a 30-story hotel with retail on the ground floor.
The proposed conversion would create about 96 rooms, plus a lobby and amenity spaces, across roughly 139,000 square feet, and about 3,300 square feet of retail space, records show. The hotel’s main entrance would be located on East 53rd Street, according to the application, while the retail portion would front Madison Avenue.