GFP Development Converts 222 Broadway Into 788-Unit Rental Tower, Leasing Underway
GFP Development began June move-ins at the Wrey, a 31-story office-to-residential conversion at 222 Broadway delivering 788 rental units with studios starting at $4,168 a month and full completion targeted for Q1 2027.
GFP Development began move-ins in June at the Wrey, a 31-story office-to-residential conversion at 222 Broadway in Lower Manhattan, with the 788-unit building targeting full delivery in the first quarter of 2027 [1]. The building, formerly occupied by Bank of America, Santander, and American Express, is being marketed by Compass New Development [2].
Available units range from studios to three-bedrooms, with rents listed at $4,168 a month for a studio and $6,180 for a one-bedroom [1]. GFP is still determining whether to opt into New York's 467-m tax incentive program, which provides tax breaks for nonresidential-to-housing conversions in exchange for designating a percentage of units as affordable [1]. The developer's other Lower Manhattan conversion, SOMA, was the first project to use the two-year-old program [1].
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