Bushburg files conversion for 28 units on floor in FiDi’s 150 William, first in building

Bushburg Properties submitted a major alteration application for the conversion of one office floor at 150 William Street in the Financial District, Manhattan, to residential with 28 apartments. The plan was filed on May 21, 2026. It calls for a conversion of a portion the 210-foot-tall, twenty-story building and was filed with the New York City Department of Buildings under job number M01397684. The project is described in the filing as: Alt-CO filed to convert 13th floor offices to residential apartments; removal and replacement of non-load bearing partitions only. The applicant is the Registered Architect Gerald Valgora of Studio V Architecture, Pllc. Abraham Hoffman of Bushburg Properties submitted the plans.

Bushburg has filed three plans for interior demolition of floors two through 19. This job is the first job application seeking a conversion.

The most recent city property records show the building has been owned by Naftali Braun’s KF Braun Management for 4o years. Braun’s entity 150 William Street Associates L.P. bought the building in 1986 for $61.5 million, according to a PincusCo analysis of sale transfers, borrowing $46 million at the time. The most recent debt on the building was a $24.5 million refinance in 2008 provided by New York Community Bank (now Flagstar Bank).

The city’s Administration for Children’s Services used to occupy virtually the entire building’s office space but it planned to move to 110 William Street, reports from 2024 said.

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 4th highest sale turnover among other neighborhoods in the city with $2.4 billion in sales volume in the last two years. For development, Financial District is the 4th most active neighborhood among other neighborhoods. It had 18.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 23 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of two of the seven commercial properties representing 24,919 square feet of the 584,533 square feet. The two identified owners are Jaspinder Kaur Sendhu and Northwind Group.
There are no active new building construction projects on this tax block.

The surrounding

Within a 400-foot radius of 150 WILLIAM STREET, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
Of those eight items, three were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $7.2 million and one permit with a total initial cost of $3.9 million. The most recent of these three items was the filing on March 19, 2026 for a 15,340-square-foot residential (R-2) building with 241 residential units at 92 Fulton Street.
Of those eight items, one was a sale. Jack Ancona, Steven J. Ancona, and Emilio Rivera Torres bought the 40,564-square-foot, 51-unit office building (O6) on 64 Fulton Street for $10.5 million from William Hocking, Gloria Dattoma, Sanford Lowentheil, and Matthew Seiden on March 6, 2025.
Of those eight items, four were loans above $5 million totaling $108.5 million. The most recent of the four was Metro Loft Management and Anthony Fromer in which borrowed $20 million from Citibank secured by the 76,988-square-foot, 33-unit rental (D7) on 135 William Street on April 17, 2026.

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