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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Over the past quarter century Nathan Berman has developed a savant-like mastery of a peculiar trade in New York City property development: converting out-of-fashion office buildings into residential towers. Berman, now 63, a child of Holocaust survivors, emigrated with his family from Ukraine when he was 14, and took a meandering path to real estate.… Read more »
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In the lobby of a downtown Manhattan tower, Nathan Berman pauses to admire the marble walls and terrazzo floors. A real estate developer, he has a taste for old-world detail, like the fur lining in his navy overcoat, accented with a polka-dot scarf. It’s rush hour in the heart of Wall Street, and Berman’s at… Read more »
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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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Construction is wrapping up at Metro Loft Developers’ 20 Broad Street office-to-residential conversion in the Financial District. The 1956 tower served as the New York Stock Exchange headquarters before the recent conversion and expansion into a residential rental building. CetraRuddy has led the renovation of the 29-story tower, which will offer 533 units ranging from… Read more »
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Downtown developers are transforming three former financial buildings into luxury condos that cater to the Wall Street crowd — quite literally — with vaults repurposed as swanky speakeasies, wine cellars and game rooms. Read the full story here.
READ MOREA little over a year after the former headquarters of the New York Stock Exchange were cleared for a luxury conversion, leasing is now underway on the 29-story building’s 533 rentals. The conversion was undertaken by MetroLoft Developers, which roped in CetraRuddy to reimagine the interiors of this large Financial District building. Read the full story… Read more »
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The recently completed office-to-residential conversion of 180 Water Street has officially leased 95% of its residential units. Located in the Financial District, the Metro Loft-developed property only has 25 vacant apartments remaining. 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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A luxury condo and magnet for celebrity buyers in Tribeca has upped the prices of its few remaining units—even as price cuts dominate the rest of New York City’s luxury market. Read the full story here.
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There are few places outside the annual Met Gala that could bring together as diverse a crowd of A-list names as 443 Greenwich, a brick book bindery and New York City landmark converted in 2014 into luxury homes. Read the full story here.
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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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A former downtown office building recently converted to a luxury residential rental by a venture of Vanbarton Group and Metro Loft Management is being sold to the latter for $450 million. Read the full story here.
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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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