Slideshow

5 of NYC's Highest-Profile Office-to-Condo Conversions

New York

May 18, 2015 Scott Klocksin, Bisnow

Last week it came out that a portion of the Citgroup Building in LIC, the tallest building in the boroughs outside of Manhattan, could be converted to condos. Here’s a look at some of the highest profile office-to-condo conversions in the city in the works or recently opened.

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1. Barclay Vesey Building

Originally Opened: 1927

Former Use: Originally the home of the New York Telephone Co, it was the longtime home of Verizon Communications’ corporate HQ.

Damaged during 9/11: The building was hit by debris from the collapsing World Trade Center towers and a restoration effort reportedly cost over $1B.

Original architect: Ralph Walker

Conversion developer: Ben Shaoul’s Magnum Real Estat

Landmarked: Yes (since 1999)

Unit pricing: The first units hit the market last month, ranging from a $3.2M 2 BR to an $11.5M 4 BR.

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1. 20 Pine Street

Originally opened: 1928

Former use: It was originally the HQ of the Morgan Guaranty Trust Co.

Original architect: Graham, Anderson, Probst & White

Conversion developer: Shaya Boymelgreen and Africa Israel USA

Landmarked: No

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3. 101 Wall St (formerly 99 Wall St)

Originally opened: 1931

Conversion developer: The Claremont Group

Landmarked: No

Unit pricing: TBA

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4. The Sony Building

Originally Opened: 1984

Former Use: Sony Corp of America had its HQ there until 2013.

Original architects: Philip Johnson and John Burgee

Conversion developer: Chetrit Group

Landmarked: No

Unit pricing: In February the tri-plex penthouse reportedly asked a record-destroying $150M.

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5. The Woolworth Building

Originally Opened: 1913

Original architect: Cass Gilbert

Conversion developer: Alchemy Properties is converting the top 30 floors.

Landmarked: Yes (since 1983)

Unit pricing: The five-story penthouse will reportedly ask $110M, while smaller units will start around $4M.