A Stanley Kubrick movie about the year in New York City development might be called “How Developers Learned to Stop Worrying and Love Conversions.” In TRD Data’s tally of the biggest project filings of 2024, office-to-residential conversions took four of the top five spots. The trend, fueled by an office glut and housing shortage, may… Read more »
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Metro Loft Management and David Werner Real Estate Investments have acquired full control of the ground lease for the Grand Central office building at 235 East 42nd Street for $18 million, in a deal that places the building’s value at $45 million, according to city records. The final ownership stake for the Midtown building —… Read more »
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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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Construction has reached its peak on 25 Water Street, a significant project in Manhattan’s Financial District. The endeavor involves converting a 22-story office building into a 32-story residential complex, marking a remarkable transformation. The project, undertaken by CetraRuddy architects and spearheaded by GFP Real Estate, Metro Loft Management, and Rockwood Capital, includes adding ten stories… 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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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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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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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 MOREPlans to convert the former New York Stock Exchange building at 20 Broad Street into apartments is moving forward after the city’s Department of Buildings gave the developer the all clear last week, Curbed has learned through a tip via BuildZoom. Read the full story here.
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Nathan Berman had to pause when asked how many buildings he owns in the Financial District. Read the full story here.
READ MORENathan Berman’s Metro Loft Management nabbed $270 million in financing for a planned office-to-resi conversion of the former New York Stock Exchange building at 20 Broad Street. Read the full story here.
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At the tippy-top of the design-driven residential market these days, it helps to go the extra mile. The push for better quality of details, finishes, amenities and services often makes a million-dollar difference, says developer Nathan Berman, founder of MetroLoft Development and a leader in the downtown Manhattan’s hottest markets. Read the full story here.
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