Overview
Pearl House is a key example of how to transform an underutilized office building into a thriving residential community.
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Opportunity
Like other American cities grappling with the rise of hybrid work, New York has a glut of unused office buildings and a shortage of attainable housing.
Vanbarton Group saw an opportunity to convert a 1970s tower at 160 Water Street, a prime Financial District location where residential living is highly desirable, but undeveloped land is scarce. The challenge was to transform an existing commercial asset into a compelling residential address while preserving as much of the structure as possible, improving performance, and making the economics work within existing zoning. Complicating the conversion were floor plates stretching more than 60 feet from curtain wall to core, leaving interior zones too deep for viable apartments.
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Why This Matters
01
Reimaging an Existing Asset
Vanbarton needed to turn an aging commercial asset into a high-performing residential property without erasing the value already embedded in its structure and Lower Manhattan location.
02
Designing Homes People Want
Success depended on creating homes that felt intentional, not inherited from an office plan, with distinctive layouts, generous shared spaces, and a hospitality-forward residential experience.
03
Future-Proofing Infrastructure
The conversion needed to perform for the long term, pairing structural reuse with an upgraded envelope and efficient systems that support New York’s evolving energy requirements.
When we purchased the property, so much of the consumer and residential market was changing, and we needed an architectural firm that could envision not only what people wanted immediately, but also years down the road. - Richard A.C. Coles, Vanbarton Group, Founder
Solution
Rather than working against the limitations of the existing structure, the design reimagines the building’s excess floor area as an opportunity to unlock new residential value.
Recognizing New York’s housing shortage and its empty office inventory, Vanbarton Group engaged Gensler to convert an aging downtown office building into a premier residential building. The 588-unit building includes a mix of studios and one- and two-bedroom market-rate apartments with robust amenities such as a gym, coworking space, lounges, and a bowling alley. It also adds five new floors atop the existing 24-story tower, while retrofitting the building’s existing curtain wall and installing additional insulation and double-pane, operable windows for better performance.
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Related Content
588
Units
30K
Square-Feet of Amenities
20K
Metric Tons of CO2 Saved
Impact
Pearl House brings new homes to the Financial District, helping transform a historically office-driven area into a more vibrant, round-the-clock neighborhood.
By bringing residential life into an office-dominated district, Pearl House helps activate streets, support local businesses, and build a more desirable, resilient Lower Manhattan neighborhood.
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What Changed Because of This
01
Downtown Activated
Pearl House brings a permanent residential population to the Financial District, extending activity beyond office hours and supporting a more vibrant neighborhood.
02
Housing Added
The conversion replaces obsolete office space with nearly 600 homes, helping meet housing demand while introducing new residents to Lower Manhattan.
03
Reuse Proven
Fully leased upon completion, Pearl House demonstrates how adaptive reuse can pair strong market demand with neighborhood vitality and lower embodied carbon.
Our team crafted over 30,000 square feet of hospitality-inspired amenities to create a lifestyle-centered residential experience.
Recognition
The Playbook
RentCafe
Urban Land Institute Americas Awards of Excellence 2025
Team
Project Leadership
FAQ
What is Pearl House at 160 Water Street?
Why was 160 Water Street converted from office to residential use?
Is Pearl House a luxury residential building in NYC?
Is Pearl House an adaptive re-use project?
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