Metro Loft

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

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

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

Streetview of 55 Broad. © Google 2022

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

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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