2 Wall Street Slated for Office-to-Residential Conversion

Another Financial District office conversion is in the works.

Newmark filed permits this week on behalf of 2 Wall Street owner Fieldston Capital, which is associated with Hong Kong-based firm Aegis Asset Management. Plans call for turning the eighth through the top floor of the 21-story tower, between Broadway and Nassau Street, into 121 apartments, Crain’s New York reported.

The cellar through the seventh floor will remain office space for financial services. TD Bank is a major tenant of the building.

2 Wall Street Slated for Office-to-Residential Conversion — Newmark’s Rachel Wooten Barley (LinkedIn)

Amenities on the upper floors will include a game room, lounge and co-working spaces, records show.

Newmark appears to be the property manager. The firm’s Rachel Wooten Barley is listed as the owner of the permits.

The renovation of 2 Wall Street is one of several office conversion projects planned in the Financial District. In late September, Manhattan-based developer Bushburg filed to transform part of 80 Pine Street to 500 residences. Similar projects are in the works at 222 Broadway, 25 Water Street and 55 Broad Street.

Fieldston Capital bought the tower at 2 Wall Street, built in 1932, in 1996 for $13.7 million, according to PincusCo. Patrick Hotung, Aegis’ CEO, sold an undisclosed stake in the property for $25 million to an LLC named after the tower’s address, according to a deed that appeared in city records in September.

Bachir Karam, a partner at Lower Manhattan-based firm Sullivan & Cromwell, represented the buyer in the deal.

Karam and Newmark declined Crain’s request for comment, and representatives for Aegis could not be reached.

— Caroline Handel