Midtown office tower that traded in online auction headed for resi redo

The Midtown office tower that turned heads with its rock-bottom sale on the online auction site Ten-X is poised for a second act. McKinney, Texas-based Thakkar Developers, owners of the 925,000-square-foot building at 135 West 50th Street, is planning to convert much of the property into apartments, co-founder Sam Thakkar told The Real Deal. “We’re working to finish up the diagrams and those things required to convert that building to residential,” Thakkar said, adding that early architectural studies show the existing footprint can accommodate between 550 and 700 apartments. The project would mark a dramatic pivot for the 23-story building, […] This article originally appeared on The Real Deal. Click here to read the full story.