Moinian Group signs $200M rehab construction loan for conversion in FiDi

Moinian Group through the entity Battery Commercial Associates LLC as borrower signed a rehab construction loan with lender Deutsche Bank valued at $200 million for conversion of space in an office condominium at 17 Battery Place in Financial District, Manhattan, where Moinian recently filed plans to convert more space to residential use.
The deal closed on December 4, 2025 and was recorded on February 6, 2026. The prior lender was Deutsche Bank which held debt that had an original loan amount of $134.2 million.The property has 383,478 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $521 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Moinian Group was Joseph Moinian. The signatory for Deutsche Bank was R. Chris Jones and Christopher Harris . This is for a conversion to residential of upper floors, M01266003, filed in October 2025. A large portion of the building is already residential.

The property

The office condo in Financial District has 383,478 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 383,478 square feet. The city-designated market value for the property in 2022 is $67.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

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 4th highest sale turnover among other neighborhoods in the city with $2.2 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 owner of the one commercial property that spans that spans 335,746 square feet on the block.The identified owner is Rose Associates.
There are no active new building construction projects on this tax block.

All properties are elevator.

The borrower

The PincusCo database currently indicates that Moinian Group owned at least 16 commercial properties with 1,287 residential units in New York City with 1,958,978 square feet and a city-determined market value of $625.6 million. (Market value is typically about 50% of actual value.) The portfolio has $1.9 billion in debt, with top three lenders as Deutsche Bank, Bank of China, and AIG respectively. Within the portfolio, the bulk, or 47 percent of the 1,958,978 square feet of built space are office properties, with elevator properties next occupying 45 percent of the space. The bulk, or 81 percent of the built space, is in Manhattan, with Brooklyn next at 19 percent of the space.

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