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Developers Close on $535M Loan to Redevelop 25 Water Street in Financial District, Manhattan

Rendering of completely repurposed 25 Water Street, New York City, from office to residential, courtesy of CetraRuddy.
Rendering of completely repurposed 25 Water Street, New York City, from office to residential, courtesy of CetraRuddy.
Source: New York Yimby

Newmark has arranged a $535.8 million loan to support a 22-story office-to-residential conversion project at 25 Water Street in Manhattan’s Financial District. The joint venture behind the project includes GFP Real Estate, Metro Loft Management, and Rockwood Capital.

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