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Large New York Office-to-Residential Conversion Lands $536 Million Loan

Plan Involves Converting 25 Water St. Into 1,300-Unit Apartment Building
Owners of 25 Water St. in lower Manhattan have landed a $536 million loan to redevelop the office building into a 1,300-unit rental building, depicted in a rendering. (CetraRuddy)
Owners of 25 Water St. in lower Manhattan have landed a $536 million loan to redevelop the office building into a 1,300-unit rental building, depicted in a rendering. (CetraRuddy)
CoStar News
December 22, 2022 | 10:18 P.M.

A New York project to develop a 1,300-unit apartment building, one of the largest office-to-residential conversions in the United States, has landed a $535.8 million loan.

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