The residential conversion of the former office building at 101 Greenwich Street<\/b> is ready to roll with $220 million of construction and redevelopment financing now locked in, Commercial Observer has learned.\u00a0<\/p>\n
Apollo <\/b>is the lender behind the floating-rate debt, sources said, while Newmark<\/a><\/b>\u2019s Jordan Roeschlaub<\/b>, Chris Kramer <\/b>and Holden Witkoff<\/b> negotiated the transaction.\u00a0<\/p>\n SEE ALSO: Debt Tied to Blackstone\u2019s Burbank Creative Office Sent to Special Servicing<\/a><\/p>\n Pincus Co. first reported in December that owners Quantum Pacific<\/a><\/b> and Metro Loft Management<\/a> <\/b>were planning a 600-unit residential conversion of the 26-story Downtown Manhattan office building<\/a>.<\/p>\n Idan Ofer<\/b>\u2019s Quantum Pacific acquired the property \u2014 also known as 2 Rector Street \u2014\u00a0 from BGO<\/b> in February 2025<\/a> with a conversion in mind, paying slightly north of $100 million, sources told CO at the time. The transaction marked the London-based firm\u2019s second investment in U.S. real estate, and Newmark\u2019s Adam Spies<\/b>, Adam Doneger <\/b>and Michael<\/b> Collins<\/b> negotiated the sale while\u00a0Skyline Properties<\/strong>\u2018\u00a0Robert Khodadadian<\/strong>,\u00a0Daniel Shirazi<\/strong>\u00a0and\u00a0Daniel Davidov <\/strong>sourced the transaction.\u00a0<\/p>\n Quantum Pacific\u2019s first Manhattan buy was 767 Third Avenue<\/b>, which is now also being converted to residential use alongside partner Metro Loft<\/a>.\u00a0\u00a0<\/p>\n Apollo didn\u2019t immediately return a request for comment. Newmark declined to comment.\u00a0<\/p>\n