17 John Street

Battery Park City, Financial District, Interviews, People

nathan berman

He’s been called the King of FiDi with over 2200 apartments under his management. The founder and principal of Metro Loft Management, Nathan Berman specializes in transforming landmark office buildings into luxury rentals. He recently acquired the leasehold for 20 Broad Street, the former New York Stock Exchange building, and plans to convert it to white-glove rental apartments. Other properties include 20 Exchange Place, a 1931 Art Deco office building that used to be the City Bank-Farmers Trust Building, and the former Munson Shipping Company headquarters at 67 Wall Street. Both buildings were converted into luxury rental apartments with condominium finishes and features.

Over the years, Berman has developed a profitable formula that’s yielded some of the most architecturally distinguished rental buildings in lower Manhattan. Ahead, Berman explains his focus on the rental market, as well as his first foray into the world of condos with the uber-luxe 443 Greenwich Street.

READ THE FULL INTERVIEW HERE… 

Financial District, Hotels, New Developments

17John Cotel, 17 John Street, crowdsourced hotel, Prodigy Network

Back in June, we took a look at the winning designs for Prodigy Network’s 17John ‘Cotel’ (collaborative + hotel = cotel), the city’s first crowdsourced hotel and the world’s first collaborative hotel. Now, the real estate crowdfunding startup has closed on the 15-story rental building at 17 John Street for $85.3 million, $25 million of which came from crowdfunded equity. Additional financing came from Deutsche Bank and another institutional investor. The property will be transformed into a 23-story, 191-unit extended-stay hotel, designed for the next generation of business traveler.

More on the first-of-its-kind project in NYC

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