Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC

Reuters

May 20

Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC

Marcus & Millichap Inc.'s IPA Capital Markets has successfully arranged a $720 million loan for the conversion of the former Pfizer headquarters in New York City, marking the largest financing ever secured for such a project in the city. The loan, facilitated for a joint venture between Metro Loft Developers and David Werner Real Estate Investments, is intended for the transformation of two connected office buildings into a state-of-the-art multifamily residential complex. Madison Realty Capital provided the financing, and construction is already underway at the Midtown East location, with completion expected by the fourth quarter of 2027. This project aims to set a new standard for office-to-residential conversions, addressing the demand for Class A multifamily housing in New York City.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519556813) on May 19, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www-web.itiger.com/news/2536532756"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2536532756\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2536532756?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-05-20 06:39","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2536532756","market":"nz","top_or_hot":-1,"title":"Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Marcus &amp; Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Marcus &amp; Millichap Inc.'s IPA Capital Markets has successfully arranged a $720 million loan for the conversion of the former Pfizer headquarters in New York City, marking the largest financing ever secured for such a project in the city. The loan, facilitated for a joint venture between Metro Loft Developers and David Werner Real Estate Investments, is intended for the transformation of two connected office buildings into a state-of-the-art multifamily residential complex. Madison Realty Capital provided the financing, and construction is already underway at the Midtown East location, with completion expected by the fourth quarter of 2027. This project aims to set a new standard for office-to-residential conversions, addressing the demand for Class A multifamily housing in New York City.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus &amp; Millichap Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519556813) on May 19, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-05-20 06:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Marcus &amp; Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Marcus &amp; Millichap Inc.'s IPA Capital Markets has successfully arranged a $720 million loan for the conversion of the former Pfizer headquarters in New York City, marking the largest financing ever secured for such a project in the city. The loan, facilitated for a joint venture between Metro Loft Developers and David Werner Real Estate Investments, is intended for the transformation of two connected office buildings into a state-of-the-art multifamily residential complex. Madison Realty Capital provided the financing, and construction is already underway at the Midtown East location, with completion expected by the fourth quarter of 2027. This project aims to set a new standard for office-to-residential conversions, addressing the demand for Class A multifamily housing in New York City.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus &amp; Millichap Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519556813) on May 19, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0034390439.USD","symbol_name":"FTGF ROYCE US SMALLER COMPANIES \"A\" (USD) D","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250519:nNDL9GsQyD:1","article_id":"2536532756","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2536532756","pubTimestamp":1747694354,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC. Disclaimer: This news brief was created by Public Technologies  using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief via Business Wire  on May 19, 2025, and is solely responsible for the information contained therein.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE0034390439.USD":"FTGF ROYCE US SMALLER COMPANIES \"A\" (USD) D","BK4079":"房地产服务","MMI":"Marcus & Millichap Inc","IE00B19Z6F94.USD":"Legg Mason Royce - US Smaller Companies A Acc USD"},"translate_title":"Marcus&Millichap Inc.获得7.2亿美元贷款，用于将纽约辉瑞前总部历史性地从办公室改建为住宅","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MMI":0.9},"content_text":"Marcus & Millichap Inc. Secures $720 Million Loan for Historic Office-to-Residential Conversion of Former Pfizer Headquarters in NYC\n    \n\n        Marcus & Millichap Inc.'s IPA Capital Markets has successfully arranged a $720 million loan for the conversion of the former Pfizer headquarters in New York City, marking the largest financing ever secured for such a project in the city. The loan, facilitated for a joint venture between Metro Loft Developers and David Werner Real Estate Investments, is intended for the transformation of two connected office buildings into a state-of-the-art multifamily residential complex. Madison Realty Capital provided the financing, and construction is already underway at the Midtown East location, with completion expected by the fourth quarter of 2027. This project aims to set a new standard for office-to-residential conversions, addressing the demand for Class A multifamily housing in New York City.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519556813) on May 19, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}