New Renderings Revealed For Wrey Conversion At 222 Broadway

• New renderings unveiled for the Wrey office-to-residential conversion in Lower Manhattan
• Project will transform 222 Broadway into 788 rental apartments
• TPG Real Estate and GFP Real Estate are leading the $43.6 million redevelopment

What The Conversion Project Includes

New renderings have been released for Wrey, a large-scale office-to-residential conversion underway at 222 Broadway in Manhattan’s Financial District. The 31-story redevelopment will transform approximately 770,000 square feet of former office space into 788 rental apartments alongside 40,000 square feet of commercial space. The project also includes a rooftop expansion that will increase the building’s height to approximately 430 feet through a new steel-framed addition above the existing structure. Located directly near the Fulton Street transit hub, the redevelopment sits in one of Lower Manhattan’s most transit-connected locations.

What The Design Changes Reveal

CentraRuddy designed the redevelopment and includes substantial exterior modifications to modernize the midcentury tower. Renderings preview a partially re-clad façade with updated paneling and pleated geometric detailing added to portions of the exterior. Construction has already significantly altered the upper portion of the tower, where sections of the existing structure were demolished to accommodate the new rooftop extension. The redesigned roof will ultimately include an outdoor swimming pool and a roof deck overlooking Lower Manhattan.

What Amenities And Residential Features Stand Out

The project’s amenity package is positioned more like a hospitality-oriented residential tower than a traditional apartment conversion. Amenities will center around “Two Two Two,” a private five-floor residents’ club including a fitness center, spa, indoor swimming pool, game rooms, children’s playroom, lounges, and additional social spaces.  Interior renderings depict contemporary apartment layouts featuring updated kitchens, modern bathrooms, and open living areas designed to attract luxury rental tenants. The project reflects how office conversions are increasingly being designed as high-end lifestyle properties rather than basic adaptive reuse housing.

What The Financing And Acquisition Reveal

The redevelopment is being led by TPG Real Estate and GFP Real Estate. Last year, the ownership group secured $288 million in construction financing from BDT & MSD, underscoring continued lender appetite for well-located Manhattan conversion projects despite broader office market uncertainty. The developers acquired the property in 2024 for $147.5 million—a steep discount from the $502 million Deutsche Bank paid for the building a decade earlier. That pricing shift highlights the dramatic repricing that has occurred across older office assets in Manhattan as conversion opportunities become more financially viable.

What This Means For Lower Manhattan Development

Wrey is part of a broader wave of office-to-residential conversions reshaping Lower Manhattan’s Financial District. As older office buildings struggle to compete with newer Class A towers, many developers are repositioning obsolete commercial properties into residential assets to capitalize on strong housing demand. The Financial District, in particular, has emerged as one of the city’s most active conversion markets due to its aging office inventory, strong transit access, and growing residential population. The project is currently expected to be completed in May 2027.