.kvelsey and Ian Volner describe the four different types of unwanted Manhattan office buildings
This 24-story Financial District office building was once home to international banks and insurance companies, but by 2019, the glass tower was showing its age — one of many dated office buildings clustered around the South Street Seaport. A few years earlier, the owner, Vanbarton Group, had converted 180 Water, the tower’s neighbor, into a luxury rental.
After the pandemic, the choice was obvious: office space no one wanted, or apartments in a desirable residential enclave with a new Whole Foods and Jean-Georges Vongerichten’s food hall? “There are many factors that go into determining office versus residential, but first and foremost, it’s location,” says Robert Fuller, principal and studio director at Gensler, the architecture firm that’s overseeing the building’s conversion into 588 market-rate studios and one-bedrooms .
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