Plans For 452-Unit Rental Conversion Of 26-Story Office Building At 2 Rector Street Abandoned, Financial District

2 Rector Street2 Rector Street (center), photo via Big Apple Annex

During the summer of 2015, Kushner Companies and CIM Group filed plans with the Department of City Planning to convert the 26-story, 466,000-square-foot office building at 2 Rector Street, in the Financial District, into 452 rental apartments. The developers are now abandoning those plans and are in contract to sell the office building to Cove Property Group for roughly $225 million, according to the New York Post. The sale comes three years after Kushner and CIM acquired the property for $140 million. The new owners plan to continue leasing the property to commercial tenants. It was 84 percent occupied in 2015, by multiple tenants.

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1 Comment on "Plans For 452-Unit Rental Conversion Of 26-Story Office Building At 2 Rector Street Abandoned, Financial District"

  1. Waiting for to see the new office building in the roughly area, but I trust that towers and landscapes can couple of beautiful sources.

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