Vanbarton Group files plans to convert FiDi office to 592-unit resi building

Vanbarton Group, on November 16, filed plans for a project to convert an office building to a 592-unit residential building at 160 Water Street in Financial District, Manhattan. Joey Chilelli, senior VP of the firm, filed the plans.

The initial cost for the project is listed as $22.2 million in the plans, however, the full conversion should cost much more.

In September, The Real Deal reported that the last of the office tenants in the building would be vacating the building by the start of October and that the developer was planning to convert the building to residential use before selling it in the ballpark of $200 million. The report estimated the conversion itself would cost around $200 million.

The plans call for the increase in size and change in use of the building from a 342-foot tall, 24-story office building to a 414-foot tall, 30-story building with 592 dwelling units. This was filed with the New York City Department of Buildings under job number M00613562.

The project is described in the filing as: Alt-CO being filed for the conversion of a commercial building to a residential use.

According to the plans, following the conversion, floors two through 27 of the building will each have 22 dwelling units per floor. The 28th floor will have a terrace and amenity space, while floors 29 and 30 will each have seven dwelling units.

The architect listed is Gensler.

The property was acquired for $165 million on April 30, 2014.

Direct link to Acris documents. LINK

Direct link to DOB NOW Public Portal. LINK