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222 Broadway conversion halted after inspectors say cracks were not disclosed
GFP Development said the cracks were found in March, repaired, and it expects leasing to continue while aiming to finish the 788-unit project within a year.
New York City’s Department of Buildings has issued a stop-work order for the 222 Broadway office-to-residential conversion in the Financial District, where GFP Real Estate is transforming a former 31-story office building into a 788-unit luxury apartment tower, Commercial Observer reports.
The order followed city inspectors’ determination that the project’s contractor, Leeding Builders Group, and engineering firm, DeSimone Consulting Engineers, did not immediately disclose cracks that formed on the building’s newly added 32nd floor, according to the outlet.
GFP said the top-floor cracks were discovered in March and were quickly repaired, adding that the building is stable and the shutdown is related to reporting timelines rather than safety issues. The developer also said leasing is underway and it expects to complete the project within a year.
Commercial Observer notes the project is part of a broader wave of office-to-residential conversions across New York City totaling more than 16,000 units, and that capital investments in these projects are not expected to slow. The outlet said Leeding Builders Group, DeSimone Consulting Engineers, and DOB did not immediately respond to requests for comment.