The Pittsfield Building has been through a lot since 2000, when Miami Beach, Fla.-based Morgan Reed Group paid $15 million for the property, then an office tower. Morgan Reed chopped up the building, selling nine floors for $23 million in 2008 to local developer Alter Group, which converted the space into student housing. Since then, the building has suffered from a lack of investment, a series of lawsuits and multiple failed deals.