NEW YORK CITY-Brooklyn-based developer Leviev Boymelgreen completed the purchase of the 35-story 20 Pine St. here with help from a $150-million mortgage loan from Barclays Capital Real Estate Inc., a subsidiary of Barclays Bank. The financial district site will be converted to a mixed-used development with luxury condominiums and ground-floor retail and commercial space. The law firm of Herrick, Feinstein, which represented Boymelgreen, tells that in the next few months, “there will be a separate construction loan for the conversion.”

Last year, Boymelgreen in a joint venture with Africa Israel Investments, purchased the JP Morgan complex at 15 Broad St. and the adjacent 23 Wall St. for $110 million. It was also earmarked for residential conversion. And Boymelgreen is not just busy in the New York area. For information about a Miami project, go to Meridian Center Offices Go Condo at $290 Per SF .

The developer acquired the 700,000-sf office built in 1928 from the Resnick and Reuben families. It served as the headquarters of Morgan Guaranty Trust and has been occupied by longtime tenant JP Morgan Chase. “Shaya Boymelgreen has been doing remarkable deals in Manhattan. These exciting transactions are truly changing the landscape of New York City,” remarks Richard Weidman of Herrick, Feinstein. The pair have worked together previously on developments here and in Miami and Las Vegas. Dick Weidman, Sheldon Chanales, Jeffrey Kaufman, Maureen O’Connor and associates Joseph Murphy, Efram Friedman and Anna Stoessinger of Herrick’s real estate department represented Leviev Boymelgreen.

Though no price has been set for the conversion process, which is expected to take approximately 15 to 18 months, $135 million has been set to transform 15 Broad St. The JV hired noted architect and designer Philippe Starck to transform the 42-story property into a luxury residence called Downtown. It will feature 326 residential condominiums that are expected to list from approximately $335,000 to $3.5 million and will house a combination of studio, one-, two- and three-bedroom units. Amenities include a lap pool, squash court, basketball court, yoga and Pilates studio and weight training room, steam room as well as a business center and children’s playroom. There will also be a screening area and the only private bowling alley in Manhattan.

The Brooklyn-based Boymelgreen was founded more than a decade ago by Shaya Boymelgreen. He teamed with Lev Leviev and Africa Israel Investments to form AI & Boymelgreen. Today, the firm controls an estimated $1.5-billion portfolio. Africa Israel Investments Ltd. is an international holding and investment company that is active, among others, in the spheres of residential and business construction, construction and management of shopping malls and building of infrastructure.

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