Bushburg Cos.

Who it is

Bushburg Cos. is the development firm of Yossi (Joseph) Hoffman. It got its start in Brooklyn's trendier neighborhoods, best known for converting a Bushwick factory into a mini-mall. Since 2024 it has become one of the most aggressive buyers of distressed Lower Manhattan office towers for apartment conversions. The Promote counts it among the Brooklyn-bred builders who now dominate the area. These are firms that keep costs tightly controlled so difficult projects pencil out, and they are stepping in where institutional capital has pulled back.

The deal that put Bushburg on the map was 80 Pine Street. In 2024 it paid Rudin $160M, about $133 a foot, for the FiDi tower, which had been languishing since anchor tenant AIG left. In mid-2025 Bushburg secured $320M from Bridge City and Deutsche Bank for a 700-unit FiDi conversion. By late 2026 The Promote was describing the 80 Pine job as a big success, with rents reported above $100 a foot. Coverage also links the firm to 100 William Street, bought from Manulife.

Now Bushburg is going bigger. In October 2026 The Promote reported that it was in contract to buy Extell's Two Bridges site at 259 Clinton Street, with closing expected within about a month. The large-scale plan ties the parcels together, so the buyer has to fund its share of public improvements, including subway station work, which brings the all-in bet to about $100M, per a source. The site can support roughly 600K sf of residential, and it is eligible for the Affordable New York tax break. Simon Dushinsky's arrival at the neighboring troubled Chetrit parcel reportedly reassured Bushburg on those shared costs. In November came 60 Wall Street, the 1.6M sf former Deutsche Bank Building, which Bushburg is in contract to buy from GIC and Rithm's Elecor. The reported price is just under $400M, roughly $250 a foot, and the plan is another conversion.