The ongoing investigation into the July 2026 structural failure at the former Pfizer headquarters in Midtown Manhattan, where missing or inadequate steel reinforcements caused multiple columns to buckle during an office-to-residential conversion, remains the primary driver behind the strong trader preference against criminal charges by year-end. City agencies including the Department of Buildings and Department of Investigation have pursued forensic reviews alongside law enforcement, uncovering additional column deficiencies in August, yet no charges have been announced despite documented prior safety violations at the site. Such probes into construction negligence typically require extended analysis to establish intent or criminal liability, and with only a few months left before the deadline, the timeline makes resolution improbable. This skin-in-the-game pricing aligns with historical patterns where civil or administrative actions precede any potential criminal steps in similar building incidents.