Inside NYC’s $800,000,000 Office-to-Residential Conversion | SoMA at 25 Water Street скачать в хорошем качестве

Inside NYC’s $800,000,000 Office-to-Residential Conversion | SoMA at 25 Water Street

Welcome to another episode of The Skyline Report, created by DCRE TV! . Today, we’re diving deep into one of Manhattan’s most ambitious adaptive reuse stories: the $787 million transformation of 25 Water Street into SoMA, the largest office-to-residential conversion in U.S. history. . The Asset: Originally known as 4 New York Plaza, this 22-story, 1.1 million SF office tower (built in 1969) is now a 32-story residential community featuring: 🏘️ ~1,300 residential units 💸 330 affordable apartments (40–90% AMI) 🌇 100,000+ SF of indoor/outdoor amenities including: Bowling lanes 🎳 Pickleball courts 🏓 Yoga studios 🧘 Game lounges 🕹️ Rooftop terraces 🌆 . The Capital Stack: Acquisition Price: $251 million (2022) Financing: $536 million in conversion financing Estimated Total Cost: ~$787–800 million . Key Participants: Developers: Metro Loft Management, GFP Real Estate Equity Partner: Rockwood Capital Architect: CetraRuddy Architecture General Contractor: Pavarini McGovern Structural Engineer: GMS Consulting Engineers Capital Providers: Bank OZK, Related Fund Management . Why It Matters: SoMA isn’t just a conversion — it’s a blueprint for urban evolution. As NYC grapples with office vacancies and housing shortages, 25 Water shows what’s possible when vision meets capital. From a windowless fortress to a community-first vertical neighborhood, SoMA is helping redefine downtown living in the Financial District. . If you made it this far in the post, don’t forget to: 🔴 Tap the SUBSCRIBE button 👉 Hit the LIKE 💬 Drop a COMMENT to join the conversation . 📲 DCRE TV Linktree: https://linktr.ee/DCRE_TV . 💵 Cash App: https://cash.me/$diversitycre . 🎥 Shout Outs: @Bisnow @ConnectCRE @TheRealDeal @CommercialObserver @GlobeStcom @UrbanLandInstitute @CouncilOfUrbanRealEstate @RealEstateExecutiveCouncil @NAIOP @NAREIM @PREA . 🎬 Creator: Nylz Reyez 📸 Videographer: Quan Kareem . #DCRETV #SkylineReport #25WaterStreet #SoMA #OfficeToResidential #AdaptiveReuse #NYCRE #RealEstateDevelopment #MetroLoft #GFPRealEstate #RockwoodCapital #CetraRuddy #BankOZK #RelatedFundManagement #CRE #FinancialDistrict #MultifamilyNYC #DCRE #BlackInCRE #RealEstateMedia #NYCSkyline #DCRETV