The building is comprised of 83,000 sf of office space and46,000 sf of retail space. The new owners intend to convert theoffice portion of the building into 54 residential luxurycondominium units, which will be marketed by Otis & Ahearn. Theretail space is currently home to a Virgin Megastore which willremain throughout the redevelopment.

The building was originally built in 1920 and renovated in 1987.It is the only Frank Gehry designed multi-tenant office building inthe country and is situated in one of the city's most exclusiveresidential and retail neighborhoods.

The move to convert the office space into condominium use ishardly surprising as it is part of a recent trend among developersin the city. In Cambridge, Leggat McCall Properties and ING areredeveloping One First St. into 199 condominiums. Downtown, GoldAssociates and VEF plan to convert the top six floors of 441 StuartSt. to luxury condominiums. Other condo conversions are happeningat 199 State St. and the Hoffman Building.