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Manhattan developers have found another potential office to convert to residences: the former Goldman Sachs headquarters at 85 Broad St.
Fortress Investment Group and Metro Loft Management are nearing a deal to acquire a stake in the 30-story Financial District building, with plans to redevelop it into housing, according to people familiar with the matter.
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As office towers sit empty and demand for housing soars, developers are looking to transition former workspaces.
With Labor Day behind us, bosses are expecting workers to finally start showing up more regularly at Manhattan offices.
In the wake of the pandemic countless older buildings that haven’t been modernized in the past decade are presenting a costly problem for landlords.
Wall Street firms have ramped up return-to-office plans at their major hubs.
