Metro Loft, Quantum file DOB plans for 614 units in FiDi conversion

Metro Loft Management, which partnered with Quantum Pacific Group to purchase 101 Greenwich Street in the Financial District, submitted a major alteration application for the conversion of the commercial (COM) building from office to residential with 614 unit. The plan was filed with the New York City Department of Buildings on December 23, 2025 under job number M01337247. It calls for a renovation of the 26-story building. The project is described in the filing as: application filed to convert the existing building to residential. Robert Travis, senior managing director at Metro Loft Management, filed the plans. The architect is Montroy DeMarco Architecture.

Billionaire Idan Ofer’s Quantum Pacific Group recorded a memorandum of contract in February 2025, to buy the property from BGO, but as of publication no sale documents have been recorded with the city’s property records. As part of the DOB submission, Metro Loft uploaded a required form affirming it was an owner of the the property, through the entity 101 Greenwich Property Owner LLC.

Quantum Pacific Group also partnered with Metro Loft Management to buy the office building 767 Third Avenue in Midtown East for $88 million,

101 Greenwich Street

The property

The office building in Financial District has 400,294 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 118 feet and is 142 feet deep with a total lot size of 17,626 square feet. The lot is irregular. The zoning is C5-5 which allows for up to 15 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $79.2 million.

Prior sales, articles and revenue

This property was sold by BentallGreenOak|Multi-Employer Property Trust for 0.0 to Quantum Pacific Group on January 28, 2025.

The 400,294-square-foot property generated revenue of $17.6 million or $44 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received $3,750 in ECB penalties and $6,350 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Financial District, The majority, or 74 percent of the 79.9 million square feet of commercial built space are office buildings, with elevator buildings next occupying 15 percent of the space. In sales, Financial District has the 5th highest sale turnover among other neighborhoods in the city with $1.9 billion in sales volume in the last two years. For development, Financial District is the 3rd most active neighborhood among other neighborhoods. It had 18.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 23 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the five commercial properties representing 1,037,834 square feet of the 1,402,317 square feet. The largest owner is Bilgili Holding, followed by Quantum Pacific Group and then Yucaipa Companies. On the tax block, there were two new building construction projects totaling 608,621 square feet. The largest is a 273-unit, 358,388 square-foot residential (R-2) building submitted by Bizzi & Partners and filed by Steven Dellasalla with plans filed June 5, 2012 and permitted August 8, 2017. The second largest is a 250,233 square-foot business (B) building submitted by Tishman Speyer and filed by Richard Gladstone with plans filed August 29, 2014 and permitted December 13, 2017.

The owner

The PincusCo database currently indicates that Quantum Pacific Group owned at least three commercial properties in New York City with 1,007,958 square feet and a city-determined market value of $261.8 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are office properties. They are all located in Manhattan.

The surrounding

Within a 400-foot radius of 101 Greenwich Street, PincusCo identified 13 commercial real estate items of interests occurred over the past 24 months. Of those 13 items, one was in new building development. It was a new building permit issued on May 1, 2025 for a 340,376-square-foot residential (R-2) building with 388 residential units at 111 Washington Street. Of those 13 items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on October 22, 2025 for the $1.4 million renovation of 8,917-square-foot 53 building with four residential units at 103 Washington Street. Of those 13 items, two were sales above $5 million totaling $169.8 million. The most recent of the two was Hawkins Way Capital which bought the 142,236-square-foot, one-unit hotel (H2) on 99 Washington Street and one other property for $154.5 million from Jubao Xie, Ziyi Xie, and GF Hotels & Resorts on July 22, 2025. Of those 13 items, nine were loans above $5 million totaling $1 billion. The most recent of the nine was Grubb Properties in which borrowed $152.5 million from Maxim Capital Group secured by the zero-square-foot, 467-unit rental (D6) on 111 Washington Street on December 17, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.