Metro Loft

Silverstein adds 2,000 apartments to sweeten casino proposal for Manhattan’s west side

Renderings courtesy of Silverstein Properties / Binyan Studios

June 26, 2025

Silverstein adds 2,000 apartments to sweeten casino proposal for Manhattan’s west side

Silverstein Properties said it would develop more than 2,000 apartments through office-to-residential conversions on Manhattan's west side if its casino bid is awarded a license. The developer on Thursday announced a partnership with MetroLoft to develop the apartments, which would include 500 permanently affordable units, a day before casino proposals are due. The addition of housing sweetens Silverstein's $7 billion bid, The Avenir, which calls for a 1,000-room luxury hotel, restaurants, a food hall, and a gaming facility near the Javits Center. The previous plans had proposed 100 affordable apartments located off-site.
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143 apartments available at FiDi office tower-turned-luxury rental, from $912/month

Credit: Streetsense

June 4, 2025

143 apartments available at FiDi office tower-turned-luxury rental, from $912/month

By Aaron Ginsburg

A housing lottery opened this week for 143 mixed-income apartments at the former Financial District headquarters of Goldman Sachs. Redesigned by CetraRuddy and developed by Metro Loft and Silverstein Properties, 55 Broad Street is an office-to-rental conversion with 571 apartments and 25,000 square feet of amenities, including a rooftop pool. New Yorkers earning 40, 80, and 100 percent of the area median income can apply for the units, priced from $912/month studios to $3,522/month three bedrooms.
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Affordable Housing

Former FiDi office tower launches leasing for luxury rentals, from $4,100/month

Renderings courtesy of Streetsense

September 23, 2024

Former FiDi office tower launches leasing for luxury rentals, from $4,100/month

By Aaron Ginsburg

A former Financial District office building turned luxury rental tower officially launched leasing this week. Reimagined by CetraRuddy, the 36-story building at 55 Broad Street, once the headquarters for Goldman Sachs, is now home to 571 new apartments and 25,000 square feet of amenities, including a rooftop pool. Pricing for the studio to three-bedroom apartments starts at $4,100/month.
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Pfizer’s former Midtown HQ to become 1,500 apartments

Pfizer World Headquarters. Photo via WikiCommons

June 26, 2024

Pfizer’s former Midtown HQ to become 1,500 apartments

By Aaron Ginsburg

The former Midtown headquarters of pharmaceutical company Pfizer is poised to become New York City's largest office-to-residential conversion. As Crain's New York first reported, the vacant two-building complex at 219 and 235 East 42nd Street will become a 1,500-unit rental property. Metro Loft Developers, the team behind other large residential conversions, including 55 Broad Street in the Financial District, is leading the conversion. The project will not contain any affordable housing units, according to the developer.
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See plan to convert FiDi office tower 55 Broad into 571 market-rate apartments

Image courtesy of Joe Woolhead

August 1, 2023

See plan to convert FiDi office tower 55 Broad into 571 market-rate apartments

By Aaron Ginsburg

The plan to convert the Financial District office tower at 55 Broad Street into apartments is finally moving forward, with a closed deal and the release of new renderings this week. Silverstein Properties and Metro Loft Management on Monday announced they bought the tower for $172.5 million with plans to turn the 30-story office tower into a residential building with 571 market-rate apartments; upon completion, it will be one of New York City's largest office-to-residential conversions ever. Construction is expected to start in August and take roughly two years.
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Real Estate Trends

June 24, 2022

Empty Financial District offices at 55 Broad will be converted to 571 apartments

By Michelle Cohen

As many of New York City's workers remain remote and office vacancy shows no signs of reversing, many have suggested the city's empty offices be used for living. In one of the largest office-to-residential conversions to be launched during the pandemic, two local developers have purchased the one-third vacant 55 Broad Street with the intention of creating 571 market-rate apartments, the Wall Street Journal reports.
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Real Estate Trends

Metro Loft

Silverstein adds 2,000 apartments to sweeten casino proposal for Manhattan’s west side

143 apartments available at FiDi office tower-turned-luxury rental, from $912/month

Former FiDi office tower launches leasing for luxury rentals, from $4,100/month

Pfizer’s former Midtown HQ to become 1,500 apartments

See plan to convert FiDi office tower 55 Broad into 571 market-rate apartments

Empty Financial District offices at 55 Broad will be converted to 571 apartments

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