Metro Loft

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

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

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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