NYC Office-to-Residential Conversions 2026: Transforming the Skyline & Adding New Apartments

Source: Rendering courtesy of 101 Greenwich Street

By Colin O'Leary

New York City is undergoing a major transformation as office-to-residential conversions accelerate across Manhattan and Brooklyn—transforming the skyline in 2026. With elevated office vacancy rates and a continued need for housing, developers are repositioning underutilized office buildings into modern residential properties at an unprecedented scale.

These conversions are also arriving at a critical time. New York City has been grappling with rising rental prices and a limited supply of available apartments, making affordability and inventory ongoing challenges. By introducing thousands of new units—primarily rentals—these projects are expected to add much-needed inventory and help ease pressure on an increasingly constrained housing market.

What makes this trend especially notable is that the vast majority of these projects are being developed as rental housing. This reflects both market demand and the incentives tied to large-scale conversions, ultimately expanding rental inventory across some of the city’s most desirable neighborhoods.

Below are some of the most notable office-to-residential conversion projects reshaping New York City—including original construction dates, unit counts, property type, expected timelines, and amenities.

1. 5 Times Square (Midtown Manhattan)
Originally constructed in 2002, 5 Times Square is being converted into approximately 1,250 rental units, including a meaningful affordable housing component. The development is expected to be completed around 2027. Planned amenities are expected to include a fitness center, rooftop terrace, coworking lounges, and resident social spaces.


2. 101 Greenwich Street (Financial District)
Originally built in 1989, this 27-story office building is being transformed into approximately 600+ rental units, with completion anticipated around 2026–2027. Amenities are expected to include a fitness center, resident lounge, children’s playroom, and outdoor terrace space.


3. 111 Wall Street (Financial District)
Originally constructed in 1970, 111 Wall Street is expected to deliver approximately 1,500 rental units, with completion likely in 2028 or later due to its scale. The project is expected to feature a full suite of amenities, likely including fitness and wellness facilities, coworking areas, lounges, and outdoor space.


4. 750 Third Avenue (Midtown East)
Built in 1982, 750 Third Avenue is being repositioned into residential use and is expected to deliver approximately 600+ rental units, with completion estimated around 2027–2028. Amenities are likely to include a fitness center, business lounge, shared workspace areas, and rooftop access.


5. Former Pfizer Headquarters (Midtown East)
Originally developed between the 1960s and 1980s, the former Pfizer campus is being redeveloped into approximately 1,500–1,600 rental units, with completion projected between 2027–2029. The project is expected to include extensive amenities such as landscaped outdoor areas, fitness and wellness centers, coworking spaces, and ground-floor retail.


6. 25 Water Street (Financial District)
Originally constructed in 1969, this building was converted into approximately 1,320 rental units and completed in 2025, making it the largest office-to-residential conversion in the United States. Amenities include a rooftop deck, fitness center, basketball court, coworking areas, and multiple resident lounges.


7. 55 Broad Street (Financial District)
Originally built in 1967, 55 Broad Street was converted into approximately 571 rental units and completed in 2024. Amenities include a fitness center, rooftop terrace, resident lounge, and coworking spaces.


8. 180 Water Street (Financial District)
Originally constructed in 1971, 180 Water Street was converted into 573 rental units and completed in 2017. Amenities include a rooftop terrace, fitness center, yoga studio, and resident lounge.


9. 70 Pine Street (Financial District)
Originally built in 1932 as an Art Deco office tower, 70 Pine Street was converted into approximately 644 rental units and completed in 2016. The building features a robust amenity package including a fitness center, indoor pool, bowling alley, golf simulator, dining options, and resident lounges.


10. 1 Wall Street (Financial District)
Originally constructed in 1931, 1 Wall Street was converted into approximately 566 condominium units and completed in 2023. Amenities include a full-service fitness center, spa, private club spaces, and access to luxury retail.


11. 40 Exchange Place (Financial District)
Originally built in 1989, this proposed conversion is expected to deliver approximately 380–400 rental units, with completion likely around 2027–2028. Planned amenities are expected to include a fitness center, lounge areas, and outdoor space.


12. Watchtower Buildings (Brooklyn Heights)
Originally constructed between the 1920s and 1970s, the former Watchtower properties are expected to be redeveloped into approximately 660 residential units, primarily rentals, with the potential for a condominium component depending on final plans. Completion is anticipated between 2026–2028. Amenities are expected to include landscaped outdoor areas, fitness facilities, and community-focused spaces.


The Bigger Picture
Office-to-residential conversions are playing a critical role in reshaping New York City’s built environment. As these projects continue transforming the skyline in 2026 and beyond, they are not only reimagining underutilized office space but also delivering much-needed housing supply at a time when rental inventory remains tight and demand continues to grow.

With many of these developments expected to come online between 2026 and 2028, they are poised to have a meaningful impact on housing availability while redefining how space is used across the city. The result is a more dynamic, livable New York—one where residential opportunities are expanding into areas once defined almost entirely by office towers.

Ready to Make Your Move in NYC? If you're in the market to buy, sell, or rent a home in New York City, contact Colin O'Leary and The Big City Team with Berkshire Hathaway HomeServices at 646-300-2012 for a free consultation.