Time really flies. It feels like it was just yesterday when Loki (Tom Hiddleston) threw Tony Stark (Robert Downey Jr.) outside the building that will become the Avengers Tower later and then got a beating from the Hulk (Bruce Banner) in the same premises. Oh, the good old days. And Thunderbolts* have sure brought them back to us. The early reviews already gave us a glimpse of it, though.
However, the building we all so adored was acquired by Valentina (Julia Louis-Dreyfus) and now turned into the Watchtower. The place wasn't cheap, as we hear her telling those who are about to become the New Avengers. Little does she know, that tower is going to become their headquarters; Val just got played (and that is just satisfactory).
Now that the New Avengers own her, the Watchtower will be their base of operations, just like the Avengers Tower was to the original six. We already got a glimpse of it when Bucky and Yelena returned from somewhere; Bob's resting, and Red Guardian is trying to be funky in there. And just after that... We won't spoil it, don't worry.
How is the Watchtower different from the comics?

While the Avengers Tower, turned the Watchtower, was a home to the New Avengers, it serves as headquarters to Sentry (played by Lewis Pullman in the MCU).
However, it disappeared after Sentry was convinced by his arch-enemy, General, to erase himself from the memory of people as a part of the act. That's something we have already seen happening with Peter Parker (Tom Holland) in Spider-Man: No Way Home (2021).
The Avengers Tower was then built by Tony Stark, who inadvertently chose the same location as the Watchtower. After the New Avengers recruited Sentry, and as soon as he destroyed his mental block, the Watchtower reappeared.
There were black crossing fins and a golden orb on top of them standing on a building before the Avengers Tower and now both the buildings stand together. Though Hulk destroyed them both in one storyline. Our green monster just turns a city into a heap of rubble wherever he goes; glad we have a Professor Hulk now.
When did we last see the Avengers Tower?

There's just a glimpse of it in Spider-Man: Far From Home when he glides through the tower's atrium, and that's all. Though it appears in Hawkeye (2022), that's sort of a flashback from the battle of New York happening in The Avengers when it was still the Stark Tower.
In the same series, Kate Bishop (Hailee Steinfeld) has a conversation with Clint Barton (Jeremy Renner) where we again hear a mention of it when the former asks about the building. He says,
"Tony sold that. A few years ago."
Which is sad "on so many levels," as Kate puts it.
Now that the New Avengers are in town, it is likely we will see the building again in the future MCU movies. That begins with Avengers: Doomsday, where our new team of heroes is confirmed to appear in it.
Though we hope we get to see them in another proper sequel to Thunderbolts* after Avengers: Secret Wars have concluded the Multiverse Saga.
Also Read: Void vs. Sentry - Key differences explained as MCU confirms the Thunderbolts* in Avengers: Doomsday
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