Broad Street files plans for 326-unit conversion at 80 Broad in FiDi

Broad Street Development, which owns the property with Invesco, submitted a major alteration application for the conversion of the office building at 80 Broad Street in Financial District, Manhattan into a 326-unit residential building. The plan was filed with the New York City Department of Buildings on January 22, 2026 under job number M01312475. It calls for a conversion of the 37-story building. The project is described in the filing as: conversion of existing commercial building to residential. Ryan Bird, vice president of Broad Street Development, filed the plans. The architect is Rawlings Architects.

The plans call for a health club on the lower level, three restaurant spaces and one doctor’s office space on the first floor. Apartments begin on the second floor and continue to the 34th floor. There is a resident amenity space on the 35th and 36th floors.

Recent conversion plans in Financial District:

80 Broad Street

The property

The office building in Financial District has 361,710 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 131 feet and is 107 feet deep with a total lot size of 13,135 square feet. The lot is irregular. The zoning is C5-5 which allows for up to 15 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $70 million. The most recent loan totaled $112.6 million and was provided by PCCP on October 20, 2021.

Prior sales, articles and revenue

This property was sold for $173 million on September 12, 2014.

The 361,710-square-foot property generated revenue of $15.5 million or $43 per square foot, according to the most recent income and expense figures.

Development

For the tax lot building, it received its initial certificate of occupancy on May 26, 2016.

Violations and lawsuits

According to city public data, the property has received $10,200 in OATH penalties in the last year.

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

The neighborhood

In Financial District, The majority, or 74 percent of the 79.9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 15 percent of the space. In sales, Financial District has the 5th highest sale turnover among other neighborhoods in the city with $2.1 billion in sales volume in the last two years. For development, Financial District is the 4th most active neighborhood among other neighborhoods. It had 17.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 22 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 11 commercial properties representing 1,996,340 square feet of the 2,038,224 square feet. The largest owner is Broad Street Development, followed by Jackson Mak and then Kyungho Kang. There are no active new building construction projects on this tax block.

The owner

The PincusCo database currently indicates that Broad Street Development owned at least four commercial properties with 62 residential units in New York City with 689,321 square feet and a city-determined market value of $170.8 million. (Market value is typically about 50% of actual value.) The portfolio has $24.9 million in debt, with top three lenders as Deutsche Pfandbriefbank, Signature Bank, and Broadview Capital respectively. Within the portfolio, the bulk, or 88 percent of the 689,321 square feet of built space are office properties, with industrial properties next occupying 8 percent of the space. The bulk, or 96 percent of the built space, is in Manhattan, with Brooklyn next at 4 percent of the space.

The surrounding

Within a 400-foot radius of 80 Broad Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months. One of those four items was a sale which RSS WFCM2015-NXS2-NY WAM LLC and Rialto Capital Advisors bought the 19,478-square-foot, six-unit mixed-use building (O8) on 70 Broad Street for $20 million from Caihong Chen, Caiyun Chen, Mingsen Chen, and Shuigun Chen on March 20, 2025. Of those four items, three were loans above $5 million totaling $57.6 million. The most recent of the three was Jackson Mak in which borrowed $22.3 million from OptimumBank secured by the 59,410-square-foot, one-unit hotel (H2) on 11 Stone Street on January 21, 2026.

Direct link to the property’s ACRIS page and link to DOB NOW portal.