It was originally designed as an office building (Goldman Sachs even had space there). Like many buildings in Lower Manhattan, it has been converted into apartments. It appears that the developer received a 421-g tax break 15 years ago when it was renovated and was required to include some rent regulated units. There is a court case pending whereby two of the tenants, Bruce Hackney and Tim Smith, have discovered that they are actually paying market rents for what are officially regulated units. They are not alone as many other landlords of other former Financial District office buildings availed themselves of a similar tax break
