Metro Loft Develops Luxury Manhattan Adaptive Reuse
- Sep 06, 2018
By Gail Kalinoski
Leasing has begun at Twenty Broad Street, a 533-unit, luxury adaptive reuse in Manhattan’s Financial District, developed by Metro Loft with designs by CetraRuddy. The 29-story building is located next to the landmark New York Stock Exchange and was originally built as an extension of the exchange in 1956.
Mitchell Wasser, director of marketing and leasing at Metro Loft, noted there has been an uptick in both residential and hospitality development in the Financial District.
“Twenty Broad Street presents a rare opportunity for the renter-by-choice to lease a well-designed residence with condo-style amenities and finishes in what is widely considered to be one of the most desirable neighborhoods in New York City,” Wasser said in a prepared statement.
Bold New York is handling the exclusive leasing and marketing for Twenty Broad Street, a project that has studio, studio plus home office, one-bedroom plus home office and two-bedroom plus home office floor plans. Rents will begin at $2,455 monthly for a studio.
“It couldn’t be a better time to bring a product of this caliber to market in the Financial District. These homes are truly a cut above the rest with unique and truly spacious layouts for every lifestyle meeting the strong demand for a luxury rental building with elevated design and amenities as this neighborhood continues to grow,” Sarah Patton, managing director of development at Bold New York, said in a statement.
- a 24-hour doorman, Liv Unlimited concierge and valet services
- Sky Lounge and Rooftop Terrace with outdoor movie theater, lawn and grills
- Technogym fitness center with private yoga studio
- children’s playroom
- Library, game room and additional lounge
- Keyless entry
- Bike storage
The lobby has Art Deco design touches with marble, brass panels, custom bookshelves and banquette seating. The units have stripped oak flooring, nearly 10-foot ceiling with picture windows and city views, custom lighting, Italian cabinetry, Quartz countertops and backsplashes, state-of-the-art appliances including Bosch washers and dryers. Seventy-five of the units have private outdoor space.
There are 13 model apartments each designed by Ash NYC to appeal to a variety of renters.
Project financing details
Metro Loft Management, the vertically-integrated real estate development and management company founded in 1997 by Nathan Berman, has redeveloped several downtown New York City buildings including 443 Greenwich St., 180 Water St., 20 Exchange Place and 63 Wall St. This project dates back to October 2015 when Berman acquired the leasehold for 20 Broad St. from Vornado Realty Trust. In February 2016, the firm received $125 million in acquisition and pre-development financing and $45 million in preferred equity to convert the office building into a mixed-use Class A multifamily and retail building.
In May, The Alliance for Downtown New York cited Twenty Broad Street as one of several downtown development projects that inspired the group to recommend extensive design upgrades to the Stock Exchange District to create an identity and sense of place and improve pedestrian experiences and essential deliveries.