Bushburg Properties, led by Joseph Hoffman, is converting part of the 38-story office building at 80 Pine Street into 500 residential units. The Brooklyn-based developer, which recently closed on the $160 million purchase of the 1.2-million-square-foot property from the Rudin family, filed plans for the conversion of floors 2 through 17. The remaining floors may retain office space. This project follows the departure of AIG in 2021, which left 800,000 square feet vacant. The conversion benefits from a tax incentive for affordable housing units, recently passed by lawmakers for office conversions in Manhattan.
Joseph Hoffma
