News that the office building at 40 Fulton St. is to be sold for residential conversion had landlords and brokers buzzing over two questions: Which obsolescent FiDi office building is next? And what’s going on at nearby 150 William St.?
One mammoth conversion was recently completed at 25 Water St. and another’s underway at 222 Broadway. There’s also planned or proposed ground-up residential construction at several major vacant sites. Among them is 75–83 Nassau St., a long-vacant lot that just sold to a joint venture which plans a mostly apartment tower.
But eyes are also on 150 William St. — a 20-story, 1927 structure with more than a half million square feet. KF Braun Management, which is marketing the property for reclusive owner Moses Marx, listed it for $200 million last August, but there hasn’t been a peep about it since then.
The city’s Administration for Child Services plans to move to nearby 110 William St. later this year, which will leave 150 William mostly vacant. Discount store LotLess remains, but another large retail space has been dark for years.
“It doesn’t look pretty right now, but it would be a great prospect for apartment conversion,” an area broker said. “The location’s fantastic – halfway between the World Trade Center and the Seaport and even closer to 130 William,” the highly successful new condo tower.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
