300 East 42nd Street

300 East 42nd Street

Location:

New York

Location:

New York

Location:

New York

Area:

230,000 sq. ft.

Area:

230,000 sq. ft.

Area:

230,000 sq. ft.

Year:

2025

Year:

2025

Year:

2025

Type:

Residential

Type:

Residential

Type:

Residential

300 East 42nd Street

Project Overview

Project Overview

Project Overview

Location

300 East 42nd Street, Midtown East, New York, NY

Location

300 East 42nd Street, Midtown East, New York, NY

Location

300 East 42nd Street, Midtown East, New York, NY

Number of Units

Planned 135 residential units

Number of Units

Planned 135 residential units

Number of Units

Planned 135 residential units

Budget

$45,000,000

Budget

$45,000,000

Budget

$45,000,000

Asset Tyoe

Office-to-Residential Conversion

Asset Type

Office-to-Residential Conversion

Asset Tyoe

Office-to-Residential Conversion

Transaction Challenges:

The acquisition involved a complex repositioning strategy, converting a large Midtown East office building into multifamily residential use in a volatile market. Challenges included structuring financing that would accommodate a transitional asset, aligning with the city's evolving zoning and policy landscape, and allowing for future use of the 467-m tax abatement program. Timing was critical, as the borrower needed immediate capital to close the deal while retaining flexibility for an extended pre-development and permitting timeline.

Transaction Challenges:

The acquisition involved a complex repositioning strategy, converting a large Midtown East office building into multifamily residential use in a volatile market. Challenges included structuring financing that would accommodate a transitional asset, aligning with the city's evolving zoning and policy landscape, and allowing for future use of the 467-m tax abatement program. Timing was critical, as the borrower needed immediate capital to close the deal while retaining flexibility for an extended pre-development and permitting timeline.

Transaction Challenges:

The acquisition involved a complex repositioning strategy, converting a large Midtown East office building into multifamily residential use in a volatile market. Challenges included structuring financing that would accommodate a transitional asset, aligning with the city's evolving zoning and policy landscape, and allowing for future use of the 467-m tax abatement program. Timing was critical, as the borrower needed immediate capital to close the deal while retaining flexibility for an extended pre-development and permitting timeline.

ArrowREA Solution:

Arrow Real Estate Advisors secured $45 million in flexible acquisition financing. Arrow’s team structured the loan to provide the borrower with immediate capital and long-term optionality, enabling them to pursue the residential conversion with confidence. The financing preserved design and entitlement flexibility while supporting the client’s vision of contributing much-needed housing in Midtown East, marking another successful example of Arrow’s ability to navigate complex repositioning strategies.

ArrowREA Solution:

Arrow Real Estate Advisors secured $45 million in flexible acquisition financing. Arrow’s team structured the loan to provide the borrower with immediate capital and long-term optionality, enabling them to pursue the residential conversion with confidence. The financing preserved design and entitlement flexibility while supporting the client’s vision of contributing much-needed housing in Midtown East, marking another successful example of Arrow’s ability to navigate complex repositioning strategies.

ArrowREA Solution:

Arrow Real Estate Advisors secured $45 million in flexible acquisition financing. Arrow’s team structured the loan to provide the borrower with immediate capital and long-term optionality, enabling them to pursue the residential conversion with confidence. The financing preserved design and entitlement flexibility while supporting the client’s vision of contributing much-needed housing in Midtown East, marking another successful example of Arrow’s ability to navigate complex repositioning strategies.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.

We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.