{"id":149711,"date":"2026-03-02T15:09:06","date_gmt":"2026-03-02T15:09:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/149711\/"},"modified":"2026-03-02T15:09:06","modified_gmt":"2026-03-02T15:09:06","slug":"gfp-receives-191-5m-in-financing-for-office-to-residential-conversion-project-in-lower-manhattan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/149711\/","title":{"rendered":"GFP Receives $191.5M in Financing for Office-to-Residential Conversion Project in Lower Manhattan"},"content":{"rendered":"<p>1<\/p>\n<p>NEW YORK CITY \u2014 GFP Real Estate has received $191.5 million in financing for the office-to-residential conversion of 40 Exchange Place, a historic 300,000-square-foot building in Lower Manhattan\u2019s Financial District. Upon completion, the 20-story converted building will include 382 affordable and market-rate apartments, as well as ground-floor retail space. In addition to the loan, the project will be backed by federal and state historic rehabilitation tax credits as well as a 35-year 457-m tax abatement, a New York City incentive designed to support office-to-residential conversions. Jordan Roeschlaub, Chris Kramer and Tim Polglase of Newmark arranged the financing through Derby Lane. A construction timeline was not announced.<\/p>\n","protected":false},"excerpt":{"rendered":"1 NEW YORK CITY \u2014 GFP Real Estate has received $191.5 million in financing for the office-to-residential conversion&hellip;\n","protected":false},"author":2,"featured_media":149712,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[75,84,83,9,24,63],"class_list":["post-149711","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/149711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=149711"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/149711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/149712"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=149711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=149711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=149711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}