News:
Owners Developers & Managers
Posted: September 9, 2025
TF Cornerstone plans office-to-residential conversion
Manhattan, NY TF Cornerstone will turn the 32-story Billionaires’ Row office tower at 135 East 57th St. into a residential property. Known as Tower 57, the company will revitalize the office space into 350 market-rate and affordable apartments. TF Cornerstone will utilize the state’s 467-m tax program, and twenty-five percent of the units will be affordable at 80% of area median income.
The floorplates in the building, which range from 5,700 to 14,000 s/f, make it suited to an office-to-residential conversion. Typical offices in New York have floor plates between 30,000 and 50,000 s/f, floor plates in the 10,000 s/f range are rare.
The narrow structure’s 12-ft. ceiling heights and floor-to-ceiling windows offer access to natural light, and the majority of the rooms in the residential units will be on the perimeter of the building.
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