Biggest Office Conversion in U.S. History Begins in NYC



The biggest office-to-residential conversion in the country has begun renting its first apartments, but they don’t come cheap. The former JPMorgan Building, originally constructed to house computers, is offering apartments in Manhattan’s Financial District for upwards of $10,000 a month. The pricey rental units range from $3,000 a month for a studio apartment to $10,000 a month for a 3-bedroom apartment. More expensive apartments on the building’s highest floors will rent for $12,000 a month. Around a quarter of the building’s apartments will be offered at reduced rates through a government program that gives developers tax breaks in exchange for affordable housing. Luxury amenities for residents include pickleball courts, co-working spaces, an outdoor pool, a gym, and a spa.