IPA Capital Markets Arranges $720 Million Loan for Office-to-Residential Conversion of Former Pfizer Headquarters

IPA Capital Markets Arranges $720 Million Loan for Office-to-Residential Conversion of Former Pfizer Headquarters

NEW YORK--(BUSINESS WIRE)--May 19, 2025-

Madison Realty Capital Originates $720 Million Loan for Office-to-Residential Conversion of Former Pfizer Headquarters - Marcus & Millichap (NYSE:MMI)

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- Madison Realty Capital, a vertically integrated real estate private equity firm focused on real estate private credit, today announced that it has originated a $720 million loan to a joint-venture between Metro Loft Developers and David Werner Real Estate Investments for the development and conversion of the former Pfizer headquarters consisting of two adjacent and connected office buildings. Located at…

IPA Capital Markets Arranges $720M Loan for Office-to-Residential Conversion of Former Pfizer Headquarters

IPA Capital Markets, a division of Marcus & Millichap, specializing in capital markets services for major private and institutional clients, announced the closing of a $720 million loan to a joint venture between Metro Loft Developers and David Werner Real Estate Investments for the development and conversion of the former Pfizer headquarters consisting of two […] The post IPA Capital Markets Arranges $720M Loan for Office-to-Residential Convers…

Metro Loft, DWREI Receive $720M in Financing for Manhattan Office-to-Residential Conversion Project

NEW YORK CITY — A joint venture between Metro Loft Management and David Werner Real Estate Investments (DWREI) has received $720 million in financing for an office-to-residential conversion project in Manhattan. The project will convert the 10-story, 290,000-square-foot office building at 219 E. 42nd St., which formerly served as the global headquarters for pharmaceutical giant Pfizer Inc., into a multifamily complex. When combined with the adja…

Yorktown Approves Rezoning for Former Blue Book Network Headquarters

The Yorktown Town Board approved a rezoning request on May 13 to replace the former headquarters of the Blue Book Network with 55-plus housing. AMS Acquisitions of New York City envisions transforming the currently vacant office complex at 800 E. Main St. into a park-like setting featuring 180 rental apartments. The project will revitalize the property, generating increased property tax revenue for both the Town and the local school district wit…

Historic $720M Deal Transforms Pfizer NYC HQ into 1,600 Luxury Apartments in Landmark Conversion

Former Pfizer HQ secures record financing for 1,602-unit luxury conversion in Midtown Manhattan. 25% affordable units planned. See how this transforms NYC real estate.