Northwind Group Provides $219M Loan for Office-to-Residential Conversion at 100 Wall Street
Northwind Group has provided a $219 million construction loan to convert part of the 463,000-square-foot office tower at 100 Wall Street in Lower Manhattan into residential rental apartments. The joint venture between BLDG and David Werner Real Estate Investments acquired the building in July 2024 and has already relocated tenants from lower floors to upper ones as part of predevelopment efforts. The conversion will transform floors two through eleven into 168 luxury residences, while maintaining office space on floors fifteen through twenty-nine. The project includes full-service amenities such as a pool, fitness center, theatre, and rooftop deck. Triton Construction is serving as the construction manager, with Gensler Architecture providing design services. Northwind Group's loan will retire existing debt and fund development costs. This marks Northwind’s eighth office-to-residential conversion project in New York City, reflecting a broader strategy to finance adaptive reuse projects in supply-constrained markets.
Topics: construction loan joint venture real estate development residential conversion