NEW YORK CITY-One of the last remaining office towers in John Street is becoming a rental building. A high-rise office building at 116 John Street situated at the corner of Pearl Street will be converted into 418 rental apartments.
Metro Loft Management bought the property through a business agreement with Hacienda Intercontinental Realty. The company has plans to reconstruct the 35-story, 350,000-square-foot property in phases. The property is nearly 40% leased. Avinash K. Malhotra Architects will handle the $100-million renovation.For the full story, go to New York Times.
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