Work is underway on the office-to-residential conversion of 222 Broadway, a 31-story building in Lower Manhattan’s Financial District. Designed by CetraRuddy and developed by TPG Real Estate and GFP Real Estate, the project will transform the structure’s 770,416 square feet into 798 rental apartments and 40,000 square feet of commercial space. The $43.6 million overhaul will also involve the partial re-cladding of the midcentury façade and the construction of a 40-foot extension atop the parapet, bringing the total height to 430 feet, according to permits. The property is bounded by Ann Street to the north, Fulton Street to the south, and Broadway to the west.
A sidewalk shed has been assembled along the first story as crews begin work on façade from suspended scaffolding rigs. Most of the ventilation grills have been covered over and interior work is likely well underway. The current ground-floor retail tenants are remaining in operation during the conversion.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
222 Broadway. Photo by Michael Young.
No finalized renderings have been revealed apart from the below axonometric diagram, which was posted to the construction board. The illustration previews the new expansive glass curtain wall at the base and over the final three stories of the existing structure, as well as the addition that will extend the perpendicular volume above the original parapet. This extension will allow for the creation of a roof-level amenity deck, which is depicted with an outdoor swimming pool. An additional terrace is also shown around the midpoint of the building.
Despite the addition of an extra floor, the transformation work will actually reduce the overall interior scope to 724,000 square feet.
222 Broadway. Photo by Michael Young.
GFP Real Estate recently secured $288 million in construction financing for the project from BDT & MSD, with Newmark brokering the deal. The developers purchased the building for $147.5 million in the spring of 2024, a significant discount from the $502 million that Deutsche Bank paid for the property back in 2014.
222 Broadway is the latest in the wave of office-to-residential conversions across the Financial District, which also includes One Wall Street, 25 Water Street, 50 Broad Street, and Pearl House at 160 Water Street.
The property is located directly north of the Fulton Street transit hub, providing access to the A, C, J, Z, 2, 3, 4, and 5 trains, while also offering underground access to the Oculus at the World Trade Center for the 1, E, R, W, and PATH trains to New Jersey.
222 Broadway’s anticipated completion date is slated for May 2027, as noted on site.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Ah the demise of New York City’s big business.
222 Broadway, the former headquarters of Western Electric Co. Which sat diagonally across the street from its parent company AT&T both of which are gone.
How many former headquarters buildings can be turned into apartments before there is a glut?
Where have all the businesses gone (to Texas) and where are all these people coming from to live in all these converted towers.
You have a point, but AT&T / Western Electric is not a great example. AT&T moved most of its headquarters to 2.7 million square feet in Basking Ridge, New Jersey in 1975 and the showcase executive offices to Madison Avenue 1984, the year of the breakup. The area most affected by the breakup of the telephone monopoly was the I-287 corridor in Morris and Somerset counties in New Jersey. Manhattan hasn’t done too badly in teh last fifty years.
You need to change your perspective Sir William. You greatly underestimating the magnitude of the population. It’s quite large and there cannot possibly be a glut of apartments with a few office conversions.
To answer your question of how many headquarters need to be converted before there is a glut let’s do some math. Up to 800,000 units needed over the next 10 years per the governor’s goal. This conversion provides almost 800 units. You’d need 1000 headquarters of this size to be converted. According to Axios, there are only 46 buildings enrolled in the Office Conversion Accelerator.
Hi. I completely understand what you are saying about AT&T.
I’m retired from AT&T. I worked at the following addresses thru my 20 years: 32 Ave if Amer., 130 John., 195 Bway. 22 Cirtlandt Bedminster, 295 Badk. RIDGE AND finally 550 Madison. White Plains before breakup.
Frankly, good sir, your opinion is kind of bonkers. NYC’s business revenue generated and adjusted for inflation has dramatically grown in recent years compared with, say, 1975. Even in the last 5-10 years alone it’s grown by, like, 50% according to tax receipts.
Does the NYC business world look different with different kinds of companies compared with 1975? Sure, but that’s true the nation and world over. Show me one city for which that’s not true. And NYC’s biggest problem is still that housing costs are too high in large measure because not enough units can be brought online fast enough to meet demand.
More than 100 companies have left NYC for Texas. Florida, NC, VA, KY. etc.
So not Bonkers just reality.
Don’t forget all the businesses who moved to Midtown!
Huge housing shortage in NYC. Many financial firms in Wall Street have simply moved up to midtown. Lots of young people moving in, Brooklyn and Queens are booming and will still be magnet for foreigners.
Wow! This is significant in that it could serve as a high-exposure office-to-residential conversion, especially for its location.
Perfect view over st Paul’s chapel and the World Trade Center
Glut of residential apartments from the top comment? Doesn’t know NYC
Just reply to comments dude…
222 Broadway is where? When will New York rationalize its street numbering from the chaos that it is now?
Simply system – numbering north by 100 per block. Every other rational city does this.
Like that is going to happen ever? Can you imagine how disruptive and costly that would be? The downtown New York street is a vestige of the colonial street grid. It os never going to change.
As others have mentioned, imposing an obvious numbering system in Lower Manhattan with its irregular streets would be difficult. However, improvements could be made with the grid streets uptown. If a cross street prefix was added to the existing numbers, locations could be more easily determined. For example, the Empire State Building could be 33-350 5th Ave. This system is used in Queens.
Stupid comment
Completely ignorant of the 400-year history of New Amsterdam street layout before the 1811 Commissioner’s Plan
Go read a history book on New York bozo
George, read the first paragraph to get your answer to your first question. Ughhh
What are they doing with the interior portion of the floorplates? Storage?
I pulled up an image from Google maps and while the building is a full block wide, it’s a narrow block. The elevators appear to be in the center so I don’t think it will have the same issue of dark space like the larger conversation project on Water St. perhaps some units will have a flex space at the entrance to mitigate any extra depth. It’s a great location for residential- just across from the park.
This makes sense and shows that office to residential conversions might be gaining momentum. Suitable buildings need an adaptable layout obviously, but also a building’s location is important and this is a great one.
Definitely gaining momentum across Manhattan
This is the perfect type building, and there are many hundreds of them, that no longer are desirable for offices, but can be converted to housing. Those deep floorplates on the lower floors make you wonder how they will handle it, but people will only get more creative with these conversions. Bravo!
Agreed – I’d love to see some of the floorplans to understand how they’ve handled the deep spaces on the lower floors. Perhaps the original building had a helpful layout (multiple elevator banks? Multiple utility stacks?).
As long as they don’t change any bit of the exterior of the building, that will be great. These look awesome and it would be unfortunate if they just changed it up or what not just for this conversion.
what’s there about the exterior? It’s super dull without any interesting architectural or historical features
Would love an application to this new site.
memories…..like the corner of my mind……misty watercolor memories….of the way we were……
Worked in that building from 69 to 82 loved it n little Italy China town
If I was young again n could afford it i’d do it n rent a place their
I honestly much prefer the Boak and Paris building to its right