{"id":207028,"date":"2026-04-23T09:31:17","date_gmt":"2026-04-23T09:31:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/207028\/"},"modified":"2026-04-23T09:31:17","modified_gmt":"2026-04-23T09:31:17","slug":"moinian-group-to-convert-office-portion-of-17-battery-place-into-residential-units-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/207028\/","title":{"rendered":"Moinian Group to Convert Office Portion of 17 Battery Place Into Residential Units \u2013 Commercial Observer"},"content":{"rendered":"

Manhattan\u2019s Financial District is about to make room for even more residents, as the Moinian Group<\/a> announced Wednesday its latest office-to-residential conversion project at 17 Battery Place.\u00a0<\/p>\n

Utilizing New York State\u2019s 467m program \u2014 which provides tax incentives for the conversion of nonresidential buildings \u2014 Moinian will convert approximately 150,000 square feet across five floors of the historic office property\u2019s Building A into 220 apartments.<\/p>\n

SEE ALSO: Why Are L.A.\u2019s Leaders Fighting State Law Incentivizing Transit-Oriented Housing?<\/a><\/p>\n

\u201cThe transformation of 17 Battery Place represents a significant step in reimagining Lower Manhattan\u2019s built environment, as we convert a historic office property into much-needed housing,\u201d Larry Bremer, senior vice president of development at Moinian, said in a statement. \u201cBy thoughtfully repositioning this building, we are preserving its legacy while delivering modern residences, including meaningful affordable housing, in one of New York City\u2019s most dynamic neighborhoods.\u201d<\/p>\n

Construction on the 220 residences \u2014 25 percent of which will be designated as permanently affordable \u2014 is now underway, with completion expected in the first quarter of 2027.<\/p>\n

The redevelopment will also include a rooftop terrace, recreation space, and a fully redesigned lobby. A Life Time<\/a> fitness branch will anchor the building\u2019s retail space, which already includes Mediterranean and Asian restaurant Terravita.\u00a0<\/p>\n

News of the conversion plans at the 31-story building overlooking Battery Park comes after Moinian already completed the first phase of redevelopment at the property, which included converting the top floors to 138 residential units.<\/p>\n

\u201cFollowing the successful completion of the initial phase of the conversion, which delivered over 90,000 square feet and 138 residential units, we are continuing to build on that momentum by transforming additional underutilized office space into high-quality housing, contributing to New York City\u2019s housing supply while demonstrating how existing assets can be efficiently repositioned to meet evolving demand,\u201d Alex Aghravi, senior project manager of development at Moinian, said in a statement.\u00a0<\/p>\n

New York City has been facing a years-long and historic housing crisis, with the vacancy rate hitting a low of 1.4 percent in 2023, ticking up ever so slightly to 1.89 percent in 2025, according to research from<\/a> the Corcoran Group.\u00a0<\/p>\n

In an effort to combat the housing shortage, New York City and the State of New York rolled out a series of programs, including 467m, to incentivize the development of more affordable housing.\u00a0<\/p>\n

Manhattan\u2019s Financial District has become a hub for office-to-residential conversions. Other such projects in the area include SoMA at<\/a> 25 Water Street, Pearl House at 160 Water Street, and 55 Broad Street.\u00a0<\/p>\n

Amanda Schiavo can be reached at aschiavo@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Manhattan\u2019s Financial District is about to make room for even more residents, as the Moinian Group announced Wednesday…\n","protected":false},"author":2,"featured_media":207029,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[82091,82092,13797,2184,82093,9,11,10],"class_list":{"0":"post-207028","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-17-battery-place","9":"tag-alex-aghravi","10":"tag-conversion","11":"tag-development","12":"tag-larry-bremer-channel","13":"tag-new-york","14":"tag-new-york-headlines","15":"tag-new-york-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/207028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=207028"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/207028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/207029"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=207028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=207028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=207028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}