Upper West Side: Nortco Development Locks $134M for Residential Project
Nortco Development, via Amsterdam 88 LLC, secured a $134 million construction loan from Bank Hapoalim for a 37-unit condo building at 200 West 88th Street. The project, totaling over 114,000 square feet, is currently under construction and expected to be completed in spring 2027.
Tishman Speyer Circles Soho Office Building for $120M
In what may signal a return to Manhattan acquisitions, Tishman Speyer is in talks to purchase 148 Lafayette Street — a 150,000-square-foot office building in Soho — for roughly $120 million. This would be Tishman’s first Manhattan office deal in years.
David Werner and Metro Loft Push Forward on Midtown East Conversion
David Werner Real Estate Investments and Metro Loft Management secured a $90 million loan from Northwind Group to convert 675 Third Avenue into 430 rental units. This builds on their Pfizer HQ conversions nearby, aiming to deliver 2,000+ new units across East 42nd Street.
NewYork-Presbyterian Hospital Closes $186.1M Refi
The Helmsley Medical Tower at 505 East 70th Street was refinanced through the Dormitory Authority of the State of New York. The 36-story tower includes 517 staff residences, medical clinics, and hotel rooms. The deal refunds older DASNY-issued bonds.
Platinum Properties Launches Commercial Division
Platinum Properties has introduced “Platinum Commercial,” led by Khashy Eyn and Steve Evans, to formalize and scale its commercial business. The boutique firm is targeting leasing and sales growth in response to market shifts.
Greenwich Village Portfolio Trades for $24.3M
Realya, an Israeli investment firm, acquired five adjacent properties on Avenue of the Americas from Walter & Samuels. The 25,517-square-foot portfolio includes roughly 40,000 square feet of buildable rights, highlighting ongoing investor demand for developable retail sites.
Robert A.M. Stern-Designed UWS Tower Breaks Ground
The 18-story condo project by Nortco Development at 200 West 88th Street will include 37 units, ground-floor retail, and enclosed parking. Featuring a prewar-style aesthetic, the Robert A.M. Stern-designed building is expected to complete in spring 2027.
Key Market Trends
Recent moves signal fresh confidence in Manhattan’s real estate outlook. Large-scale financing for luxury development and conversions is picking up. Institutional buyers may be re-entering the office sector, and boutique firms are expanding capabilities. Retail corridors like SoHo and the Village remain competitive for acquisitions with future development upside.