Kings Capital Files Plans to Convert FiDi’s 61 Gold Street Into 108 Apartments

Manhattan’s Financial District has become the office-to-residential conversion capital of New York City, as thousands of new units have entered the pipeline over the last few years. 

Kings Capital, a New York City-based real estate investment and development firm, has submitted an application to convert 61 Gold Street, a 17-story vacant office building previously home to a nursing facility, into 108 residential units, according to a filing with the New York City Department of Buildings. The new plans follow an original proposal to convert the property into 90 residential units.

The new plans, filed on June 5, call for the renovation of the existing building, which will result in seven apartments each on the second through 16th floors and three apartments on the 17th floor. If plans are approved, the building would also include 1,536 square feet of ground-floor retail space, as well as a new lobby, mail room, and package room. 

Ralph Kowalczyk of Issac & Stern Architects is the registered architect on the application, while Thomas Giannopoulos, a managing partner at Kings Capital, submitted the plans. Spokespeople for both firms did not immediately respond to Commercial Observer’s requests for comment. 

New York-Presbyterian Hospital’s Royal Charter Properties, the real estate and property management division of the hospital network, acquired the building for an undisclosed amount in 2014, property records show. The building has been vacant since 2020, according to PincusCo. 

Some of the major office-to-residential conversions completed in the Financial District include 25 Water Street, the former home of publications the New York Daily News and National Enquirer, which is now known as SOMA. There is also the Pearl House at 160 Water Street and One Wall Street. 

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