Plans Submitted for 21-Story Residential Building at 250 Church

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Plans have been submitted to transform the former city office building at 250 Church Street, now known as 101 Franklin, into a 21-story residential building with 117 units. This project is part of a larger trend of converting underutilized office spaces into much-needed housing in Downtown Manhattan.

Why it matters

The transformation of 101 Franklin is part of a broader movement in Downtown Manhattan to revitalize the area and address the city's housing shortage. High apartment rents are driving developers to explore residential conversions of older office buildings.

The details

The proposed development at 101 Franklin, spearheaded by TPG, Skylight Real Estate Partners and Cannon Hill Capital Partners, would require a zoning change to accommodate the increased height and residential conversion. The building was previously home to the New York City Human Resources Administration and Department of Social Services, but has remained largely vacant since being sold in 2019. The current plan includes 15 accessory, self-automated parking spaces and 2,600 square feet of retail space.

• Plans were submitted to City Planning in March 2026.
• The proposal will be presented to Community Board 1's Land Leverage committee on March 9, 2026.
• If the residential proposal is rejected, the owners will proceed with renovating the building into a Class A commercial office space with ground floor retail, with completion anticipated before 2029.

What’s next

The plans for 101 Franklin will be presented to Community Board 1's Land Leverage committee on March 9, 2026. If the residential proposal is rejected, the owners will proceed with renovating the building into a Class A commercial office space with ground floor retail, with completion anticipated before 2029.