{"id":9697,"date":"2025-10-20T18:14:31","date_gmt":"2025-10-20T18:14:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/9697\/"},"modified":"2025-10-20T18:14:31","modified_gmt":"2025-10-20T18:14:31","slug":"csc-pays-45m-for-lower-manhattan-office-assets-for-possible-conversion-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/9697\/","title":{"rendered":"CSC Pays $45M for Lower Manhattan Office Assets for Possible Conversion \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/csc-real-estate\/\" title=\"CSC Real Estate\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">CSC Real Estate<\/a> has acquired two adjacent Lower Manhattan office assets for a potential office-to-residential conversion.<\/p>\n<p>The developer purchased a 178,000-square-foot assemblage at 75 Maiden Lane and 13 Gold Street for a combined $45.2 million from A.M. Property Holding, property records show. CSC paid $40.2 million for 75 Maiden and $5 million for 13 Gold, sources told Commercial Observer.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/?p=549830\" rel=\"nofollow noopener\" target=\"_blank\">J.P. Morgan is Making an Impact on Minnesota Housing<\/a><\/p>\n<p><a href=\"https:\/\/commercialobserver.com\/company\/genesis-credit\/\" title=\"Genesis Credit\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Genesis Credit<\/a> provided a $28.85 million acquisition and pre-development financing for both sites.<\/p>\n<p>Colliers arranged the investment sale and financing with a New York capital markets group including Zach Redding, Dylan Kane and Jared King, sources said.<\/p>\n<p>A spokesperson for CSC said the firm is considering all options for the site including a possible conversion to multifamily or keeping the office components and considers the deal a \u201cbasis play.\u201d\u00a0<\/p>\n<p>CSC is tackling an office-to-resi project at 300 East 42nd Street, which it <a href=\"https:\/\/commercialobserver.com\/2025\/04\/david-werner-csc-real-estate-smeke-300-east-42nd-street\/\" rel=\"nofollow noopener\" target=\"_blank\">acquired<\/a> this past spring from David Werner for $52 million.\u00a0<\/p>\n<p>A.M. Property landed a $46.5 million seven-year loan with a five-year extension option\u00a0for 75 Maiden Lane in early 2015, CO <a href=\"https:\/\/commercialobserver.com\/2015\/03\/75-maiden-lane-takes-nycb-loan\/\" rel=\"nofollow noopener\" target=\"_blank\">reported<\/a> at the time. The 12-story office building previously housed the headquarters of Basis Investment Group before the commercial real estate investment firm <a href=\"https:\/\/commercialobserver.com\/2023\/06\/basis-investment-group-lease-180-maiden-lane\/\" rel=\"nofollow noopener\" target=\"_blank\">relocated<\/a> to 180 Maiden Lane in 2023, CO previously reported.\u00a0<\/p>\n<p>A.M. Property and Genesis did not immediately return requests for comment. Colliers declined to comment.<\/p>\n<p>Andrew Coen can be reached at <a href=\"https:\/\/commercialobserver.com\/2025\/10\/lower-manhattan-office-fidi-resi-conversion\/mailto:acoen@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">acoen@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"CSC Real Estate has acquired two adjacent Lower Manhattan office assets for a potential office-to-residential conversion. The developer&hellip;\n","protected":false},"author":2,"featured_media":9698,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[8101,8102,75,84,83,9,24,63,8103],"class_list":["post-9697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-dylan-kane","tag-jared-king","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc","tag-zach-redding"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/9697","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=9697"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/9697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/9698"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=9697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=9697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=9697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}