Another FiDi Office Property Slated for Residential Conversion

More housing might be coming to Manhattan’s Financial District, as plans have been filed to convert yet another office property into a residential building. 

Blue Fin Equities’ Samuel Fisch filed conversion plans for the 234,553-square-foot building at 40 Fulton Street on Dec. 30, 2025, according to New York City Department of Buildings records. The filing calls for the 28-story, red brick facade building to be converted into a 30-story residential tower with 169 units.

Sitting at the corner of Fulton and Pearl streets in Lower Manhattan, 40 Fulton Street was ground-leased for 99 years in 2022 by landlord Fulton & Pearl to Fisch at a value of $88.9 million, according to PincusCo, which first reported the conversion plans. Fisch could not be reached for comment.

If the conversion is approved, the apartment building will have anywhere from six to eight units on the seventh through 28th floors, as well as an amenity space featuring a fitness center, a lounge, and coworking spaces on the fifth floor. There will also be commercial office space on the second, third, fourth and sixth floors, as well as ground-floor retail space. 

Office-to-residential conversions have been on an upswing across Manhattan over the last couple of years. As of August 2025, 4.1 million square feet of office space had been converted to residential, compared to 3.3 million square feet in 2024 and just 1.6 million square feet in 2023, according to data from Cushman & Wakefield.

Other office-to-residential conversions in the Financial District — planned and completed — include 101 Greenwich Street, where there are 614 new units planned, and 25 Water Street, the former home of the New York Daily News and National Enquirer that has been converted into 1,320 luxury units. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.