PGIM Refis Manhattan Office-to-Storage Conversion With $57M Loan

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A $57 million refinancing loan has been secured by a joint venture between Mequity Companies and Flatiron Equities Real Estate for converting an office building at 152 West 36th Street in Manhattan into storage units. The project involves transforming a Class C office building into approximately 1,500 storage units.

A joint venture between Mequity Companies and Flatiron Equities Real Estate has sealed a $57 million loan to refinance an office-to-storage conversion project in Midtown Manhattan, Commercial Observer has learned. PGIM supplied the loan for the sponsorship’s transformation of 152 West 36th Street from a 51,853 square-foot Class C office building into a roughly 1,500-unit […]