{"id":84160,"date":"2025-12-30T00:37:08","date_gmt":"2025-12-30T00:37:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/84160\/"},"modified":"2025-12-30T00:37:08","modified_gmt":"2025-12-30T00:37:08","slug":"quantum-pacific-metro-loft-plan-600-unit-conversion-at-101-greenwich-street-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/84160\/","title":{"rendered":"Quantum Pacific, Metro Loft Plan 600-Unit Conversion at 101 Greenwich Street \u2013 Commercial Observer"},"content":{"rendered":"<p>Idan Ofer\u2019s <a href=\"https:\/\/commercialobserver.com\/company\/quantum-pacific\/\" title=\"Quantum Pacific\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Quantum Pacific<\/a> Group and Nathan Berman\u2019s <a href=\"https:\/\/commercialobserver.com\/company\/metro-loft\/\" title=\"Metro Loft\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Metro Loft<\/a> are planning a major office-to-residential conversion in Manhattan\u2019s Financial District.<\/p>\n<p>The joint venture acquired the 26-story office tower at 101 Greenwich Street in February and recently filed plans with the New York City Department of Buildings to convert the stone-clad structure into 614 units of housing. PincusCo <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/www.pincusco.com\/metro-loft-quantum-file-dob-plans-for-614-units-in-fidi-conversion\/\">first reported the story<\/a>.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2025\/12\/lexin-capital-conversion-229-west-28th-street\/\" rel=\"nofollow noopener\" target=\"_blank\">Lexin Capital Files Plans to Convert 229 West 28th Street Into 270 Apartments<\/a><\/p>\n<p>Ofer and Berman\u2019s firms purchased the property from BentallGreenOak for at least $100 million, <a href=\"https:\/\/commercialobserver.com\/2025\/02\/quantum-pacific-bgo-newmark-metro-loft\/\" rel=\"nofollow noopener\" target=\"_blank\">Commercial Observer reported <\/a>in February.<\/p>\n<p>The U.K.-based Quantum Pacific could not be reached for comment, while Metro Loft did not immediately respond to a request for comment.<\/p>\n<p>The Financial District has become central to the popular <a href=\"https:\/\/commercialobserver.com\/2025\/10\/new-york-office-to-residential-conversions-report\/\" rel=\"nofollow noopener\" target=\"_blank\">office-to-residential conversion trend in Manhattan<\/a>, due to its evolution into a 24\/7 environment, its zoning that allows for residential use, and an oversupply of lower-quality office properties.<\/p>\n<p>A lot of the activity in the neighborhood is also because of outgoing Mayor Eric Adams\u2019s housing initiatives throughout Manhattan, specifically his <a href=\"https:\/\/commercialobserver.com\/2024\/12\/new-york-city-council-pass-city-of-yes\/\" rel=\"nofollow noopener\" target=\"_blank\">City of Yes legislation<\/a>, which was passed in late 2024 and is expected to clear the way for around 80,000 new housing units over the next 15 years.<\/p>\n<p>Other major conversions in the Financial District include SoMA, also known as 25 Water Street, a project between GFP Real Estate and Metro Loft <a href=\"https:\/\/commercialobserver.com\/2025\/12\/apollo-gic-25-water-street-office-to-resi-conversion\/\" rel=\"nofollow noopener\" target=\"_blank\">that will create 1,320 apartments<\/a>; One Wall Street, which will create 566 luxury condos; and 55 Broad Street, a plan that will generate 571 rental units.<\/p>\n<p>Mark Hallum can be reached at <a href=\"https:\/\/commercialobserver.com\/2025\/12\/quantum-pacific-metro-loft-600-unit-conversion-101-greenwich-street\/mailto:mhallum@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Idan Ofer\u2019s Quantum Pacific Group and Nathan Berman\u2019s Metro Loft are planning a major office-to-residential conversion in Manhattan\u2019s&hellip;\n","protected":false},"author":2,"featured_media":84161,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[41167,13797,2184,28549,41168,9,11,10],"class_list":["post-84160","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-101-greenwich-street","tag-conversion","tag-development","tag-idan-ofer","tag-nathan-berman-channel","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/84160","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=84160"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/84160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/84161"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=84160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=84160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=84160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}