The transformation of the office building at East 42nd Street is set to be the most significant residential conversion project in New York City’s history. This project involves the former Pfizer headquarters, a structure on the verge of collapsing.
The high-rise office building near Grand Central Terminal is being converted into a residential complex, offering over 1,600 apartments. Gensler, the architectural firm managing this project, states this is the largest residential conversion in the city’s history. Developers see such conversions as a potential solution to New York’s ongoing housing crisis.
On Tuesday, construction workers discovered a compromised steel beam on the 21st floor. The Fire Department reported that two support columns were buckling and several floors were sagging. This led to the evacuation of construction workers and nearby buildings, including a school.
“We are aware of the building’s issues and are closely working with the Buildings Department to fully understand the situation,” stated MetroLoft, the developer collaborating with David Werner Real Estate.
Mayor Zohran Mamdani confirmed the building remains unstable. The risk of collapse caused road closures around the project site.