Two New York developers who have acquired an aging office tower in NYC's financial district have revealed their plans to convert the 30-story building into 571 market-rate apartment units.
A joint venture of Silverstein Properties and Metro Loft agreed in May to purchase 55 Broad Street, which opened in 1967, for $180M from Rudin Management.
Recently, the partnership said the building will be converted to apartments during the next three years, making it the largest office-to-apartment adaptive reuse project in NYC thus far this year.
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