1981 Manhattan Office Tower To Convert to Residential

767 Third Avenue; photo © Nathaniel Lindsey for the Council on Tall Buildings and Urban Habitat

A little over year after a 1981 office tower in Midtown East Manhattan, NYC, underwent an extensive makeover, it is now poised to be among the first such towers to be converted to residences under the City of Yes, the most ambitious zoning code update for NYC since 1961, outlets including The Real Deal report. The legislation changes conversion eligibility from buildings built before 1961 to those built by 1991. Combined with the city’s new 467-M tax exemption incentive, “every conversion” is now more viable, Metro Loft Developers founder and CEO Nathan Berman said. Berman partnered with Israeli billionaire Idan Ofer of Quantum Pacific to purchase the 330,000-ft2, 40-story property at 767 Third Avenue for US$88 million. Now roughly half empty, the tower was originally designed by architect FXCollaborative, with Fogarty Finger handling the renovation completed in September 2023.

Get more of Elevator World. Sign up for our free e-newsletter.

Please enter a valid email address.
Something went wrong. Please check your entries and try again.

SDSU PARKING ELEVATORS OPERATING WITH EXPIRED PERMITS

SDSU Parking Elevators Operating With Expired Permits

Grone

NEII Congratulates Grone on Retirement

SCHINDLER REFLECTS ON 2025 CHALLENGES, REWARDS

Schindler Reflects on 2025 Challenges, Rewards

Techno International Airport; image courtesy of Otis

Otis Provides 118 Units for New Cambodia Airport

Kennedy

In Memoriam: John Lee Kennedy

The renovation features new escalators and more; image courtesy of Robins & Morton.

Huntsville Airport Renovation Includes Vertical Transportation

ALIMAK’S 3Q RESULTS SHOW “RESILIENCE IN A CHALLENGING MARKET”

Alimak’s 3Q Results Show “Resilience in a Challenging Market”

ROBUST SERVICE AND MODERNIZATION BUOY KONE IN 3Q

Robust Service and Modernization Buoy KONE in 3Q