Feil Organization Takes Another Shot at Billionaires’ Row Conversion

by Howard Morrel & Leslie Hirsch
57th Street Report

The Feil Organization’s initial attempt at converting its Billionaires’ Row property didn’t go as planned—but it’s giving it another shot.

New Plans for 140 West 57th Street

Feil has filed plans for a major long-dormant property in Midtown West, according to PincusCo. The proposal aims to transform the 14-story office building into a 47-unit residential property while maintaining its existing height.

A Historic Property in Limbo

Originally built in 1907 as a studio apartment building for artists, the landmarked property—known as The Beaufort—has faced an uncertain future for years.

Feil’s Long Road to Conversion

Feil acquired the building from Harry Macklowe in 2009 for $59 million and, in 2015, enlisted Goldstein Hill & West to assess its residential conversion potential. Their study indicated that approximately 11,000 square feet of residential space could be added atop the structure, bringing the total to about 80,000 square feet and allowing for 20 residential units, including a duplex penthouse.

By early 2016, Feil had ceased renewing office leases and began clearing the building for redevelopment. However, the project hit a roadblock when an existing zoning lot development agreement (ZLDA) restricted the allowable floor area. Despite this agreement being public record, Feil sued the project architect for $12.6 million.

Attempts to Sell and Reevaluate

In 2018, Feil attempted to sell the vacant office building, marketing it as a potential residential conversion or boutique office redevelopment.

By 2020, the company pivoted again, bringing in MdeAs Architects to lead a redesign. At the time, plans appeared to lean toward office renovations, according to YIMBY.

The Latest Plan and Cost

Now, an architect from MdeAs is listed on Feil’s latest Department of Buildings application. The initial cost for the alteration is estimated at $17 million, though this figure may change with future filings.