Financing has been arranged for NYC's largest office-to-apartment conversion, the adaptive reuse of a 22-story, 1,1M SF tower at 25 Water Street in the Financial District in Lower Manhattan.

GFP Real Estate, Metro Loft Management and Rockwood Capital have secured $536M in acquisition and redeveloping financing for the project, which will create nearly 1,300 apartments ranging from studios to four-bedroom units.

Newmark arranged the financing for the project, which was provided by MSD and Apollo.

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New York
Multifamily
Office
Development
Northeast