New York – September 17, 2026 -- Northwind Group has originated a $219 million first mortgage construction loan for 100 Wall Street, a 29-story, 463,000-square-foot office building in Manhattan's Financial District, retiring existing debt and funding conversion of floors 2 through 11 into 168 residential rental apartments.
Conversion targets base floors while upper office space stays nearly full
Floors 15 through 29 will remain office space and are already more than 95% leased and cash-flowing, according to Northwind Group. The joint venture behind the project, formed by Lloyd Goldman's BLDG Management and David Werner Real Estate Investments, acquired the building in July 2024 and relocated office tenants from lower floors to the top of the tower to clear space for residential conversion.
Loan structure scales up from initial pre-development financing
Northwind Group expanded an earlier $95 million pre-development loan into the full $219 million construction facility, originated through its discretionary debt fund platform. Ran Eliasaf, Founder and Managing Partner of Northwind Group, said the transaction marks the firm's eighth office-to-residential conversion financed in New York City. Northwind was represented by John Vavas of Polsinelli Group in the deal.
Building design features support dual residential-office use
100 Wall Street's freestanding structure provides four-sided natural light and air exposure to the planned units, while existing separate elevator banks allow distinct access points for residential and office tenants. Planned amenities for the 168 apartments include a pool, fitness center, sports simulator, theatre and rooftop deck with an outdoor kitchen.
Project team includes Triton Construction and Gensler
Triton Construction, which recently completed The Orchard, a 70-story residential tower in Long Island City with BLDG, will serve as construction manager on 100 Wall Street. Gensler Architecture, Design & Planning has been engaged as executive architect for the conversion.
David Werner, President of DWREI, credited Northwind's Ran Eliasaf and Michael Ainbinder for the deal's execution, while BLDG Executive Vice President and COO Justin Kleinman said the financing allows the joint venture to add 168 luxury residences while retaining a Class A office component.