As cities wrestle with ways to repurpose empty office buildings for residential use, the 525,000-square-foot, 588-unit Pearl House is a useful case study. It is one of the largest office-to-residential conversion in New York, created, remarkably, without zoning or financing incentives. The remake of 160 Water Street, a 1970s office tower situated in the Financial District, faced many challenges that forced creative design, financing, engineering, and marketing solutions. A phased leasing strategy involving a series of occupancy permits helped the developer generate cash flow and access additional funding tied to reaching leasing metrics while the balance of the building remained under construction. The creation of three new interior voids running the height of the existing building removed unplannable floor area. But a redeployed floor area at the top of the tower in a new overbuild section made up for the lost space. That addition also allowed for more–valuable penthouse units and both indoor and outdoor amenity spaces. Sustainability, too, features prominently in Pearl House.The clever design, engineering, and amenities, including a bowling alley and billiard room, have transformed an underused commercial property into a vibrant vertical neighborhood that has helped activate the Seaport and Financial District as a 24×7 area.