BlueFin Equities files conversion plans for 276 apartments in FiDi office building

BlueFin Equities submitted a major alteration application for the conversion of the upper portion of the 24-story office building at 5 Hanover Square in the Financial District, Manhattan to residential with 276 apartments. The plan was filed with the New York City Department of Buildings on December 23, 2025 under job number M01333954. It calls for a renovation of the 24-story building. The project is described in the filing as: conversion of the building from office to residential. Samuel Fisch of BlueFin Equities filed the plans.
The filing shows two figures for the total number of residential units, 273 units in one location and 276 in the schedule of occupancy document. It is not unusual for filings to have conflicting numbers in the early stage of an application.
BlueFin Equities partnered with David Werner Real Estate Investments to buy the four condominium units that comprise the building, in two transactions totaling $51 million.

The conversion plans call for tenant coworking space, fitness rom, kids room and a lounge on the lower level, a lobby on the first floor, but no other changes on the first to the fifth floors. Starting on the sixth floor and up to the 24th floor, the developers plan between 12 units and 17 units per floor.

5 Hanover Square

Violations and lawsuits

According to city public data, the property has received $2,025 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The block

There are no active new building construction projects on this tax block.

The surrounding

Within a 400-foot radius of 5 Hanover Square, PincusCo identified 13 commercial real estate items of interests occurred over the past 24 months. Of those 13 items, five were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $17 million and four permits with a total initial cost of $142.8 million. The most recent of these five items was the permit on December 23, 2025 for a 520,048-square-foot residential (R-2) building with 651 residential units at 77 Water Street. Of those 13 items, four were sales above $5 million totaling $426.5 million. The most recent of the four was David Werner Real Estate Investments and Samual Fisch which bought two condo units in the 197,502-square-foot, three-unit office building (R5) on 5 Hanover Square and one other property for $34 million from CIM Group on July 15, 2025. Of those 13 items, four were loans above $5 million totaling $386 million. The most recent of the four was David Werner Real Estate Investments and Samual Fisch in which borrowed $40 million from Hanover Financial Ltd. secured by two condo units in the 197,502-square-foot, three-unit office building (R5) on 5 Hanover Square on July 15, 2025.

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