55 Broad Street, NY

Office-to-residential conversion in the Financial District, New York, NY

55 Broad Street is a 421,000-square-foot conversion of a former office building into 517 rental apartments in Manhattan’s Financial District. Originally constructed as the headquarters for Goldman Sachs, the property was repositioned to meet growing residential demand in Lower Manhattan. Acquired in 2023 and delivered in 2024, the project was among the first to utilize the 467-m tax abatement program, supporting the adaptive reuse of office assets. The redevelopment reflects the continued evolution of Lower Manhattan into a vibrant mixed-use neighborhood.

• Value: $500 Million
• Developer: Silverstein Properties, Marty Burger, CEO and MetroLoft (Nathan Berman)
• Equity:Silverstein Properties, MetroLoft, and Ares Asset Management
• Debt: Banco Inbursa