Nathan Berman is already working on the city’s largest office-to-residential conversion, and now he’s planning on topping it. Berman’s Metro Loft Management has struck a deal to convert the former Pfizer headquarters in Midtown to roughly 1,500 rental apartments, sources told The Real Deal. That would surpass the 1,300 units Berman is working to convert… Read more »
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There’s been plenty of chatter around office-to-residential conversions in New York, but also questions about who is actually pulling it off. The Real Deal crunched the data to find all the properties scheduled for such overhauls. TRD‘s analysis of alteration permits filed between 2022-2023 revealed the five biggest office-to-residential projects. Here’s a look. Read the… Read more »
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Silverstein Properties and Metro Loft Management finally closed on their acquisition of 55 Broad Street from the Rudin family as the developers embark on one of the largest office-to-residential conversions in New York City history. Read the full story here.
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The three partners planning a 1,300-unit conversion of 25 Water Street closed the $536 million loan that’s been in the works for months. Michael Dell’s MSD Partners and Apollo Commercial Real Estate Finance provided the loan for the acquisition and redevelopment of the Financial District property, Newmark announced Thursday. Read the full story here.
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Rudin Management handed off a Financial District building after nearly 60 years, selling the 30-story office property to a pair of developers. Silverstein Properties and Metro Loft Management teamed up to buy 55 Broad Street for roughly $180 million, the Commercial Observer reported. The landlords have inked a contract, but the closing date remains unclear.… Read more »
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Nathan Berman’s Metro Loft Management – the firm responsible for converting a number of the Financial District’s office towers into residential buildings – has his sights set on AIG’s headquarters for its next big project. Read the full story here
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Price matters. That’s the takeaway from a look at the 10 priciest residential sales of 2017. Like years past, the list was dominated by new developments. But 2017’s most expensive deals also included several resales with major price chops. Take the Pierre’s triplex penthouse that finally sold for $44 million after asking $125 million, and… Read more »
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Nathan Berman is the managing principal of the Manhattan-based Metro Loft Management, which he founded in 1997. The developer — who’s been called the King of FiDi — has been a pioneer in Lower Manhattan since then, converting more than 3 million square feet of office space into residential rentals. Those properties have included high-profile buildings… Read more »
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Nathan Berman’s Metro Loft Management is paying $450 million to buy its partner Vanbarton Group out of the rental apartment tower 180 Water Street . Read the full story here.
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It’s become New York’s answer to the Chateau Marmont for some of the world’s biggest stars. An abandoned book bindery turned high-end condominium at 443 Greenwich Street in Tribeca is making headlines for the steady stream of A-list stars who have purchased units there. Some of the biggest celebs to have signed on so far… Read more »
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