Category: The Real Deal

GFP, Metro Loft close on $536M loan at 25 Water Street

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.


New York’s top 10 residential sales of 2017

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 »


The Closing: Nathan Berman

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 »