{"id":181572,"date":"2026-04-01T00:05:00","date_gmt":"2026-04-01T00:05:00","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/181572\/"},"modified":"2026-04-01T00:05:00","modified_gmt":"2026-04-01T00:05:00","slug":"maritime-building-conversion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/181572\/","title":{"rendered":"Maritime Building Conversion"},"content":{"rendered":"<p>            <a href=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/04\/Untitled-4-11.jpeg\" data-caption=\"\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"365\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/04\/Untitled-4-11.jpeg\" alt=\"80 Broad Street\" title=\"80 Broad Street\"\/><\/a><\/p>\n<p><a href=\"https:\/\/www.bsdre.com\/our-team\/raymond-chalme\" target=\"_blank\" rel=\"noopener nofollow\">Raymond Chalm\u00e9 and Daniel Blanco\u2019s Broad Street Development (BSD)<\/a>, in partnership with <a href=\"https:\/\/pccpllc.com\/\" target=\"_blank\" rel=\"noopener nofollow\">PCCP<\/a> and One Investment Management, have completed the recapitalization and secured a $175-million construction loan, clearing the path for the adaptive conversion of the Maritime Building at <a href=\"https:\/\/www.loopnet.com\/Listing\/80-86-Broad-St-New-York-NY\/34872474\/\" target=\"_blank\" rel=\"noopener nofollow\">80 Broad St.<\/a> in Manhattan\u2019s Financial District. The joint venture will convert the 400,000-square-foot office tower into 326 rental apartments, utilizing New York City\u2019s 467-m office-to-residential tax incentive program.<\/p>\n<p>Newmark\u2019s co-head, U.S. Capital Markets Adam Spies and executive vice chairman Adam Doneger advised the JV. Newmark co-president, Global Debt &amp; Structured Finance Jordan Roeschlaub, vice chairman Nick Scribani, director Holden Witkoff and associate Niv Shahmoon secured the financing through Derby Lane Partners.<\/p>\n<p>BSD has owned the Maritime Exchange Building since 2014 and has spent the past two years planning and advancing the conversion. \u201cThis recapitalization marks a major milestone and the formal launch of a residential redevelopment that will transform a historic Downtown office tower into a modern residential community,\u201d said Chalm\u00e9. \u201cWe believed in the potential of this amazing property and the neighborhood.\u201d<\/p>\n<p><a class=\"gofollow\" data-track=\"MjQ1LDYsNjA=\" href=\"http:\/\/umadvisory.org\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/UMA-digi-ad-leaderboard.jpg\" title=\"UMAdvisory\" border=\"0px\"\/><\/a>        <\/p>\n","protected":false},"excerpt":{"rendered":"Raymond Chalm\u00e9 and Daniel Blanco\u2019s Broad Street Development (BSD), in partnership with PCCP and One Investment Management, have&hellip;\n","protected":false},"author":2,"featured_media":181573,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[31647,2003,19036,2364,75,8392,84,83,17024,2008,9,24,31909,12,63,2344,73235,2185,20787],"class_list":["post-181572","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-construction-loan","tag-deal-boom","tag-joint-venture","tag-luxury","tag-manhattan","tag-manhattan-new-york","tag-manhattan-headlines","tag-manhattan-news","tag-mixed-use","tag-multifamily","tag-new-york","tag-new-york-city","tag-newmark","tag-news","tag-nyc","tag-office-space","tag-recapitalization","tag-redevelopment","tag-retail-space"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/181572","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=181572"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/181572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/181573"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=181572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=181572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=181572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}