The owner of the 29-story office tower at 401 Broadway on the northwest corner at Walker Street plans to convert it to 90 condominium apartments.

Architect Shael Shapiro made a presentation last night to the Landmarks committee of Community Board 1 detailing the plans, which include a request for an approval of its restoration and maintenance plans for the Art Deco-style tower from the Landmarks Preservation Commission and a special permit to allow its zoning conversion.

The committee was impressed with the restoration and maintenance proposals, but expressed concerns about the placement of large ventilation tanks on the roof of the building's north-south "leg" at the western side of the "L-shaped" tower.

The building has a pitched copper roof atop its east-west wing that is very visible up and down Broadway. The ventilation tanks on the west wing would be very visible but lower than the attractive cooper roof, one of whose finials is missing but would be replaced in the restoration program, which would also remove the large painted sign with the building's address on the north facade, which is mostly windowless.

Mr. Shapiro told the committee that about 70 windows would be added to the east facade and that fire balconies on that facade would be converted to apartment terraces. He also said that the restoration will result in uniform fenestration.

Roger Byrom, co-chairman of the committee, exclaimed that the proposed ventilation tanks were "big" and "huge," adding that "in this day and age, there must be some way" to minimize their visual impact on the building, which is one of the tallest towers in the four TriBeCa Historic Districts.

The beige-brick building has a two-story limestone base and the third floor is faced with terra-cotta.

Mr. Shapiro said that the building's entrance and entrance marquee would be on Walker Street where it has a frontage of 150 feet as compared to only 50 feet on Broadway.

Mr. Shapiro told the committee that the apartments would range in size from about 2,000 to 3,000 square feet.

The committee passed a resolution approving the restoration and maintenance program and the application for a special permit but it maintained that "every effort must be taken" to remove or lower the cooling tanks. The first committee vote was a 3 to 3 tie, but Bruce Ehrmann, co-chairman of the committee, then changed his no vote to a yes vote.

The building is owned by Park Tower Management LTD of which Ray Tocci is a director.

Jardin Hill & Murdock was the original architectural firm for the 335-foot-high building which has buttress-like piers, ornamental spandrels and crenellated setbacks and protruding air-conditioners.

The building is currently about 70 percent occupied, but a spokesperson for the owner at the meeting indicated that the tenants were on short-term leases.

The building is convenient to public transportation and to the SoHo, TriBeCa, Little Italy and Chinatown districts.

The Landmarks Preservation Commission hearing on the building is scheduled for September 26 when it will consider plans to "alter the ground floor storefronts, create new window openings, and install rooftop HVAC equipment," and the issuance of a report to the City Planning Commission "relating to a Modification of Use pursuant to Section 74-711 of the Zoning Resolution."

The building has numberous setbacks on its east facade.