Walter Sedovic Architects' masterful transformation of this 1849 mercantile building embraces the many municipal codes, zoning ordinances, green building guidelines and preservation standards that define today's restoration and development landscape--approaching them not as obstacles but as means to innovation.  One of the most remarkable and challenging elements of the design was the expansion of an additional story below, underpinning and integrating the original foundations. This project sets a standard of excellence among its Union Square peers.