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 »
READ MORE
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 »
READ MORE
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.
READ MORE
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 »
READ MORE
As the Manhattan sales market continues to slow, developers in the area are seeing a growth in the luxury rental space, and are following through by building rental properties that have condo-level amenities and activities that go beyond a wine and cheese hour. 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 »
READ MORE
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.
READ MORE
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 »
READ MORE
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.
READ MORE
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.
READ MORE
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 »
READ MORE
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.
READ MORE
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.
READ MORE
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.
READ MORE
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 »
READ MORE