An office building in the Financial District is probably going residential. This should come as absolutely no surprise to anyone following the neighborhood's veritable rash of office-to-residential conversions: 101 Wall Street; 70 Pine; 1 Wall Street; 100 Barclay; and the Woolworth Building's top floors. Most recently, the dark glassy tower at 180 Water Street announced its intentions to become 601 apartments. (Did we miss any?) Joining the fray is 2 Rector Street, a 26-story, 470,000-square-foot building with some pretty details on the facade that date back to its completion in 1907.
Two years ago, Jared Kushner and CIM Group shelled out $140 million for the building, but later flirted with selling for a profit. Ultimately, they decided to hold on, and now The Real Deal reports that the two developers have filed an application with the City Planning Department to convert 2 Rector into 452 apartments.
It's a U-shaped structure south of of the World Trade Center complex and just west of Trinity church, between Trinity Place and Greenwich Street. 2 Rector is about 84 percent occupied right now; its major tenant is the publisher of online academic journal library JSTOR. Notably, World Trade Center master planner and generally divisive figure Daniel Libeskind has his office inside. Guess he'll have to relocate if the plan gets approved.