Astor & Rowe filed a 24-unit conversion 1 day after a $9.07M deal

Astor & Rowe, listed as owner on a new Department of Buildings filing, moved to convert a Turtle Bay commercial building into 24 apartments one day after the building changed hands for $9.07M.

The deed for 330 East 59th Street is dated Sept. 10, 2026, and conveys the property from 330 Associates LLC to 330 East 59th Street Owner LLC for $9,072,581, according to the City Register’s ACRIS record. The buyer is a single-asset entity. On the DOB NOW filing, the owner business name is Astor & Rowe.

Why it matters

For lenders and brokers working Midtown East, this is a clean read on the office-to-residential playbook: buy a mid-size, pre-1968 commercial building at a low basis, then file for conversion immediately rather than hold it. The filing came before any visible leasing or repositioning.

The numbers

The job, M01455901-I1, was filed Sept. 11 as an Alteration CO. The description reads: conversion of an existing 8-story commercial building to residential, with a vertical enlargement to add a 9th story. The filing shows 0 existing dwelling units and 24 proposed, with 35,931 sq ft of total construction floor area and an initial cost of $1,000,000. Palette Architecture is the applicant firm.

That works out to roughly $378,000 of purchase price per proposed unit before construction, using our own division of the deed amount by the 24 units on the filing. The $1M initial cost is the figure declared on the application, and it is not a construction budget we have independently checked.

What’s next

The filing’s status in the Buildings Department data is Plan Examiner Review, so nothing is approved. The plans are a proposal until the department signs off. Watch for a construction financing recorded against the parcel, and for whether the 24-unit count holds through plan review.

More deals and filings are tracked on the New York market page.