What MetroLoft does

MetroLoft is a New York City-based real estate development firm founded in 1990 by Nathan Berman that specializes in adaptive reuse—converting obsolete commercial office buildings into luxury residential properties. Over three decades the company has delivered more than 9,300 residences across 8.3 million+ square feet of conversions, with a current active pipeline of 4,000+ residences spanning more than 3 million square feet, including what will be NYC's two largest office-to-residential conversions: the former Pfizer headquarters at 219-235 East 42nd Street (1,600 rental units) and 111 Wall Street (1,580 units). Notable completed projects include SoMA/25 Water Street (1,320 units), 55 Broad Street (571 units, formerly Goldman Sachs headquarters), 180 Water Street (581 units), and the record-setting ultra-luxury 443 Greenwich Street in Tribeca (53 units).

Name

MetroLoft

Legal name

MetroLoft

Website

https://metroloft.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

MetroLoft is a NYC-based real estate developer founded in 1990 that converts obsolete commercial office buildings into luxury residential properties, with 9,300+ units delivered across 8.3M+ SF and 4,000+ additional units in its active pipeline.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain

Revenue model

1. Residential Property Sales: MetroLoft develops luxury condominiums and sells individual units to buyers. Projects like 443 Greenwich Street have achieved record-setting condominium sales prices in downtown Manhattan.
2. Residential Rental Income: MetroLoft retains ownership of many converted properties and generates recurring rental income from luxury apartments. Projects include 1,600+ unit rental conversions at former Pfizer headquarters.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

MetroLoft acquires obsolete, underutilized commercial office buildings in New York City and converts them into luxury residential properties through adaptive reuse. The company sells individual condominium units to buyers and retains ownership of many properties to operate them as luxury rental apartment buildings. Its portfolio spans completed projects totaling 9,300+ residences across 8.3+ million square feet, with an additional 4,000+ residences in active pipeline development.

Product overview

MetroLoft is a New York City-based real estate development company specializing in adaptive reuse—converting obsolete commercial office buildings into luxury residential properties. The company operates a portfolio of completed residential conversion projects spanning 9,300+ residences across 8.3+ million square feet, with an additional 4,000+ residences underway across pipeline projects. Their product offering consists of individual residential development projects (both completed and in development), each representing a distinct building conversion. Completed projects include luxury residential towers like 25 Water St (SoMA), 55 Broad St, 180 Water St, 443 Greenwich St, 20 Broad St, and various smaller conversions dating back to 1997. Pipeline projects include 675 Third Avenue, 111 Wall Street, 767 Third Avenue, 219-235 East 42nd Street (the former Pfizer headquarters), and 101 Greenwich St. The company also developed a proprietary patent-pending air delivery system for HVAC in high-rise conversions.

Differentiator

Problem solved

Functional benefit

Brands

• The Metro: Residential property at 17 John Street, a 15-story, 111-unit building in the Financial District, MetroLoft's pioneering project that helped establish demand for streamlined layouts and modern tenant amenities.
• The Crest
• SoMA

Products and services

• 25 Water Street (SoMA) A 32-story, 1,320-unit luxury residential tower spanning over 1.13 million square feet in the Financial District, representing one of the most ambitious office-to-residential conversions in U.S. history with 100,000 square feet of amenities.
• 55 Broad Street A 36-story, 571-unit luxury residential conversion of the former Goldman Sachs headquarters in the Financial District, featuring a patent-pending independent HVAC air delivery system and 25,000 square feet of amenities.
• 180 Water Street A 29-story, 580-unit luxury residential tower with 480,000 square feet and 10,000 square feet of retail, featuring a distinctive 40-foot-wide courtyard carved from its core reallocated to a rooftop addition.
• 443 Greenwich Street A 7-story, 53-unit ultra-luxury Tribeca residence within a restored 19th-century bookbindery, spanning 260,000 square feet with a 4,000-square-foot interior courtyard, featuring record-setting condominium sales.
• 20 Broad Street A 30-story, 533-unit luxury residential conversion originally part of the New York Stock Exchange complex (built 1956), with 500,000 square feet, 40,000 square feet of retail, and mid-century inspired design.
• 116 John Street A 35-story, 416-unit luxury residential tower with 350,000 square feet, 11-foot ceilings, and oversized windows, converted in 2012.
• 20 Exchange Place A 57-story, 767-unit Art Deco landmark conversion with 800,000 square feet, preserving original architectural details while transforming the commercial office tower.
• 67 Wall Street (The Crest Lofts) A 25-story, 331-unit luxury rental property with 300,000 square feet, originally built in 1921 as Munson Shipping headquarters, converted in 2006.
• 63 Wall Street (The Crest)

Quantifiable outcome

• Over 9,300 residences delivered across 8.3 million+ square feet
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered core and major.

• Collaborative Construction ManagementcoreImplementation/ SI/ Consulting PartnerLongstanding partnership with Collaborative Construction Management that has shaped many of MetroLoft's most successful projects. The trust and mutual respect between teams allows close engagement with the construction process from big-picture planning to on-site decisions. Continues at 219-235 East 42nd Street (former Pfizer headquarters) and other major conversions.
• InterVestcoreStrategic or Co-development PartnerPartner on 111 Wall Street conversion, a Class A office redevelopment repositioned as a 1,580-unit luxury residential tower. MetroLoft brought expertise in large-scale conversions while building on capital improvements already made.
• GFP Real EstatecoreStrategic or Co-development PartnerCollaborators on 25 Water Street (SoMA), one of the most ambitious office-to-residential conversions in U.S. history spanning over 1 million square feet.
• Compass Development Marketing GroupcoreChannel Partner/ Reseller/ DistributorDevelopment marketing partner for multiple MetroLoft projects including 25 Water Street (SoMA) and 55 Broad Street, handling sales positioning and leasing campaigns.
• Silverstein PropertiesmajorStrategic or Co-development PartnerPartner on 55 Broad Street conversion. Formerly home to Goldman Sachs, 55 Broad was transformed into 571 luxury apartments with conversion executed around active retail and office tenants.
• David WernermajorStrategic or Co-development PartnerMetroLoft and David Werner closed a record loan for office-to-resi conversion and partnered on multiple projects including 675 Third Avenue with $90M financing secured.
• Quantum PacificmajorStrategic or Co-development PartnerPartner with MetroLoft to convert 767 Third Avenue to residential use, a project delivering 337 residences in Midtown.
• CetraRuddycoreTechnology or IntegrationArchitecture and design firm for 25 Water Street (SoMA), responsible for thoughtful redesign of the facade to bring light and air into interiors while integrating original brick detailing.
• GenslercoreTechnology or IntegrationArchitecture firm for 675 Third Avenue project, bringing 464 residences to Midtown with development expected to begin in 2026.
• Fogarty FingercoreTechnology or IntegrationArchitecture firm for 767 Third Avenue office-to-residential conversion delivering 337 residences in Midtown.
• Douglas EllimancoreChannel Partner/ Reseller/ DistributorMajor real estate brokerage handling leasing for 180 Water Street project, a 29-story tower with 581 luxury apartments.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vanbarton Group: NYC-based commercial real estate firm with deep experience in office-to-residential conversions and adaptive reuse across Manhattan. Directly comparable as a category-specialist competitor pursuing similar building conversion opportunities.
• The Brodsky Organization: Family-owned NYC real estate developer with significant experience in adaptive reuse and multifamily development across Manhattan. Comparable in operating model (privately held, founder-led) and asset class focus.
• Taconic Partners: NYC-based commercial real estate investment and development firm active in office-to-residential conversions and adaptive reuse in Manhattan. Directly comparable in asset class and conversion strategy.
• GFP Real Estate: NYC-based commercial-to-residential conversion developer and JV partner of MetroLoft on the 25 Water Street (SoMA) project. Directly comparable as a Manhattan adaptive-reuse specialist operating in the same asset class and customer segment.
• Rabina Properties: NYC-based real estate developer with a track record in commercial-to-residential conversions and adaptive reuse projects. Comparable as a privately held, category-focused competitor in the same NYC market.
• Naftali Group: NYC-based residential real estate developer active in Manhattan luxury condominium and rental development, including adaptive reuse projects. Comparable in target customer (NYC luxury buyers/renters) and product type.

Broad incumbents

• Silverstein Properties: Major NYC commercial real estate developer and MetroLoft's JV partner on 55 Broad Street. Comparable as a large-scale NYC developer with overlapping capability in adaptive reuse and luxury residential, but operates a much broader commercial portfolio.
• The Related Companies: One of the largest NYC real estate developers, with broad residential, commercial, and affordable housing operations including large-scale Manhattan developments. Comparable in NYC luxury residential output but operates at significantly larger scale across asset classes.
• Tishman Speyer: Global real estate developer with major NYC presence spanning commercial office and residential development. Comparable as a large NYC developer with overlapping adaptive-reuse capability, but operates globally and across asset classes.
• Rudin: Long-standing NYC family-owned real estate developer with commercial and multifamily residential portfolio, including historic adaptive reuse projects. Comparable as a multi-generational NYC developer with overlapping adaptive-reuse expertise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/metroloft
• Instagraminstagram.com/metroloft_nyc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MetroLoft