What was permitted
A significant project is underway at 1 Gouverneur Lane in Manhattan's Financial District, involving the conversion of a commercial building into residential units. This type of large-scale transformation can give homeowners in the area a benchmark for major property development costs.
This permit was issued on June 26, 2026, with an estimated project cost of $65,000,000. The work is being managed by 77 WATER LLC.
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View the official permit record
Tracking number, work description, cost and dates
View the official permit record
Tracking number, work description, cost and dates
| Tracking number | 338035028 |
|---|---|
| Work permit # | M01157498-I1-GC |
| Job filing number | — |
| Work type | General Construction |
| Status | Permit Issued |
| Job description | MPP Project # 000000370 approved by project advocate Roceli Zimmerman. Alt-CO being filed for the conversion of a commercial building to a residential use per Article 1 Chapter 5. |
| Floor / unit | Cellar, Cellar, Cellar, Floor Number(s) 1, Floor Number(s) 1, Floor Number(s) 1, Floor Number(s) 2, Floor Number(s) 2, Floor Number(s) 2, Floor Number(s) 2, Floor Number(s) 2, Floor Number(s) 2, Floor |
| Estimated cost | $65,000,000 |
| Approved | November 18, 2025 |
| Issued | June 26, 2026 |
| Expires | December 16, 2026 |
| BBL | — |
| BIN | — |
Property owner
Not Applicable
Joseph Chilelli
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General ConstructionFinancial District-Battery Park CityNew York CityBuilding Conversion$65,000,000Commercial to Residential