David Werner Real Estate, Metro Loft Management and the Northwind Group are banding together for another office-to-residential conversion. Ran Eliasaf’s Northwind provided $90 million to David Werner and Metro Loft for a conversion of 675 Third Avenue in Midtown Manhattan, Bisnow reported. The financing covers the acquisition and predevelopment of the soon-to-be residential property. READ… Read more »
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Nathan Berman has found his next office conversion project on Third Avenue along with Israeli billionaire Idan Ofer — possibly the first of its type under the City of Yes. Berman’s Metro Loft Management partnered with Ofer’s Quantum Pacific on their $88 million purchase of the building at 767 Third Avenue from Sage Realty, The… Read more »
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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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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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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.
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