David Warner, Metro Loft Land Financing from Northwind on second Midtown Resi Conversion, 32-story, Class A office at 675 Third Ave

4/10/2025

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Connect CRE

• Subcategory: Capital Markets: Debt, Office: CBD

• Tag: Closing | Conversion | New Construction

• Additional Filters-Subcategory: Capital Markets: Debt-Senior Loan, MF: Highrise

• Additional Filters-Tags: Conversion: Office-to-Residential

• Company: Newmark Group (Nasdaq: NMRK), Northwind Group, David Werner Real Estate Investments, Metro Loft Management

Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, originated a $90-million senior first-mortgage loan for the acquisition and pre-development of 675 Third Ave., a 32-story, Class A office building in Midtown Manhattan slated for conversion into approximately 430 multifamily rental units. The acquisition and conversion of 675 Third, formerly owned by the Durst Organization, are led by a joint venture between David Werner Real Estate Investments and Nathan Berman’s Metro Loft Management.