Quantum Pacific, Metro Loft’s $105M FiDi purchase, $218M conversion loan hit public records

Quantum Pacific Group and Metro Loft Management through the entity 101 Greenwich Property Owner LLC paid $105 million to BGO and Multi-Employer Property Trust through the entity 2 Rector Street (NY), LLC for the office building (O4) at 101 Greenwich Street in Financial District, Manhattan. The expected use is conversion to residential apartments.

On the lot, there is one active major alteration construction project, M01337247, for a 614-unit, 375,254 square-foot residential (R-2) building. The project was submitted by Metro Loft Management and filed by Robert Travis with plans filed December 23, 2025 and it has not been permitted yet.
The deal closed on January 20, 2026 and was recorded on January 27, 2026. The property has 400,294 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $262 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.)

At the same time, the buyers obtained a $218 million acquisition and construction loan from Apollo Global Management.
The signatory for BGO and Multi-Employer Property Trust was Melanie Domres . The signatory for Quantum Pacific Group and Metro Loft Management was Nathan Berman . The contract date was January 23, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has records that the buyer Quantum Pacific Group purchased three properties in three transactions for a total of $167.9 million and has no record it sold any properties over the past 24 months.
The seller BGO had not purchased any other properties and sold five properties in four transactions for a total of $230.8 million over the same time period. The 400,294-square-foot property generated revenue of $19.3 million or $48 per square foot, according to the most recent income and expense figures.
Commercial Observer reported on December 29, 2025 that Quantum Pacific and Metro Loft paid $100 million to BentallGreenOak for 101 Greenwich Street, Manhattan, NY.

Commercial Observer reported on January 21, 2026 that Quantum Pacific and Metro Loft Management borrowed $220 million from Apollo Global Management for 101 Greenwich Street,Manhattan, NY. The borrower-side brokers were Jordan Roeschlaub, Chris Kramer, and Holden Witkoff of Newmark.

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.

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 received $3,750 in ECB penalties and $4,350 in OATH penalties 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 5th highest sale turnover among other neighborhoods in the city with $2.1 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 majority, or 62 percent of the 1.4 million square feet of built space are office buildings, with elevator buildings next occupying 33 percent of the space.

The buyer

The PincusCo database currently indicates that Metro Loft Management owned at least 10 commercial properties with 1,895 residential units in New York City with 4,529,129 square feet and a city-determined market value of $1.1 billion. (Market value is typically about 50% of actual value.) The portfolio has $330.7 million in debt, with top three lenders as Athene Holding, Bank Hapoalim, and Valley National Bank respectively. Within the portfolio, the bulk, or 87 percent of the 4,529,129 square feet of built space are office properties, with elevator properties next occupying 13 percent of the space. They are all located in Manhattan.
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.

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