A 33-story former Pfizer headquarters in Midtown Manhattan faces collapse after crews found buckling support columns and sagging floors during an office-to-residential conversion, city officials announced Tuesday.
Firefighters responded to 235 East 42nd Street before 8 a.m. following reports of falling bricks and structural instability. The FDNY identified two support columns buckling and multiple upper floors sagging.
Evacuations and street closures follow warnings
The findings led to an immediate evacuation of construction workers at the site, which Metro Loft Management is redeveloping. Seven nearby buildings were also cleared as a precaution, and authorities blocked vehicle and pedestrian traffic on East 42nd Street between Second and Third avenues.
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Mayor Zohran Mamdani described the situation as extremely dangerous during a morning press conference. He advised New Yorkers to avoid the area entirely. FDNY Chief John Esposito stood beside him and reinforced the warning.
A Metro Loft spokesperson stated the company was working with the Department of Buildings to evaluate the damage. The statement emphasized that safety remains the primary concern. Neither the developer nor the project’s architect, Gensler, commented further.
Over 130 firefighters arrived at the scene, where investigators continue to determine what caused the structural failure.
A record-breaking project now on hold
The site was set to become New York City’s largest office-to-residential conversion, with plans for about 1,500 rental units. David Werner purchased the leasehold for 235 East 42nd Street five years ago for $407 million after Pfizer moved to Tishman Speyer’s Spiral tower. He later acquired Alexandria Real Estate Equities’ stake in the adjacent 10-story building at 219 East 42nd Street for $142 million.
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Financing for the project has been significant. In May, Werner and his partner secured a $700 million construction loan from Madison Realty Capital—the largest ever for such a conversion in the city. Northwind Group provided a $75 million loan for the property at 219 East 42nd Street and later supplied another $135 million for the site. The properties were expected to include luxury rentals, affordable housing through a tax abatement program, and 30,000 square feet of retail space.
The original completion date was late 2027. That schedule is now in doubt as investigators assess the building’s structural integrity. Last August, the site was briefly shut down after smoke was detected, though no fire was found.
The block remains closed, and city agencies are coordinating their response. The Department of Buildings has not indicated when the area might reopen or when work could restart.