Brookfield Real Estate Financial Partners has provided a $272.5 million construction loan for a major office-to-residential conversion project at 160 Water Street in Manhattan’s Financial District. The 530,000-square-foot building will eventually debut as a 588-unit rental property.
Vanbarton Group is the developer leading the conversion project with Gensler retained as architect of record. Cushman & Wakefield arranged the loan on behalf of Vanbarton Group.
As part of the conversion, the 24-story building will receive an additional six floors. The curtain wall will be re-clad and outfitted with operable windows, spandrels, and mullions to complement the new façade.
Preliminary renderings of the building’s roof reveal a mix of private and communal outdoor spaces, light landscaping, and pergola-shaded seating. Additional amenities will include a bowling alley, a gym, and a spa, with more to be announced.
An anticipated completion date has not been announced.
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I’m not sure I really care for this expansion. The addition to the roof looks very out of context, at least with the windows they have been putting up. I guess we’ll have to see it when it’s all done.
Employer should be able to check on their employees at their home.
Residential conversions can be a big part of helping with the housing shortage. As people work from home, it makes sense to turn office buildings into homes. It’s also the greenest option rather than starting over.
Street view shows renovation has already begun as of June.
Plain disgusting
As a native from the Lower East Side ,, all these skyscrapers, and building are plain DISGUSTING ,, trying to move out the poor, and New York for the Rich ,, someday God will destroy that city, and all abuse will be over.