"Pfizer Headquarters Gets Makeover, Becomes East Side's Newest Luxury Rental Building"
"Former Pfizer headquarters undergoes transformation into 1,600 luxury rental apartments with affordable housing and lavish amenities."
Work is currently underway on the highly anticipated office-to-residential conversion and expansion of the former Pfizer headquarters located at 229 East 42nd Street in Midtown East, Manhattan. The project, which is being developed by Metro Loft Development and David Werner Real Estate Investments and designed by Gensler, will include the gut renovation and full re-cladding of the existing 33-story tower, as well as the construction of a 19-story vertical expansion of the adjacent building at 219 East 42nd Street.
Upon completion, the revamped Pfizer building will offer a total of 1,600 rental apartments, with 25 percent of the units reserved for affordable housing. The building will also feature ground-floor retail space and an impressive 100,000 square feet of amenities, including a rooftop pool, fitness center, and private lounges.
While the project has been met with some controversy due to its conversion of office space into luxury rentals, it has been praised for its inclusion of affordable housing units and lavish amenities. As one city official stated, "This development is a perfect example of how we can create much-needed affordable housing while also catering to the growing demand for luxury living in the city."
However, some critics have argued that the project is simply a way for developers to cash in on the growing demand for high-end rentals in the city, with little regard for the displacement of existing businesses and the loss of office space. As one community member stated, "It's just another example of developers prioritizing profits over the needs of the community."
Regardless of the controversy, the Pfizer building's transformation into a luxury rental building is well underway and is expected