**BridgeCity, Deutsche Bank Provide $320M for 80 Pine Street Residential Conversion**
Arrow Real Estate Advisors has secured a $320 million construction loan on behalf of Bushburg Properties for the redevelopment of 80 Pine Street, a 41-story tower located in Manhattan’s Financial District. The funding will support the conversion of the building’s lower floors into 713 residential units, encompassing approximately 1.2 million square feet of space.
The financing was jointly provided by BridgeCity Capital and Deutsche Bank. The Arrow Real Estate team responsible for arranging the loan included founder and managing partner Morris Betesh, senior vice president Alex Bailkin, and senior associate Matt O’Hanlon.
Originally built in 1960, 80 Pine Street occupies an entire city block. Following nearly $100 million in recent renovations, the property was acquired by Bushburg in September 2024 with plans to reposition it as a mixed-use development. The project will integrate residential, office, and retail components, redefining the traditionally commercial corridor into a dynamic urban hub.
“We are pleased to have arranged the construction financing for this transformative office-to-residential conversion,” said Betesh. “Bushburg’s creative redevelopment of 80 Pine reflects the strong demand for residential repositionings enabled by the 467-m tax incentive program.”
The project reflects a broader trend of adaptive reuse in lower Manhattan, addressing the growing desire for residential space in the city’s business districts.
