Arrow Real Estate Advisors arranged a $320-million construction loan on behalf of Bushburg Properties for the conversion of 80 Pine St., a 41-story office tower in Manhattan’s Financial District. The financing will support the transformation of the building’s lower floors into 713 residential units, totaling approximately 1.2 million square feet.

The loan was provided by BridgeCity Capital and Deutsche Bank. The Arrow team of founder and managing partner Morris Betesh, SVP Alex Bailkin and senior associate Matt O’Hanlon negotiated the financing.

Originally constructed in 1960 and occupying a full city block, 80 Pine has recently undergone nearly $100 million in renovations. Bushburg acquired the building in September 2024 to reposition it as a mixed-use community hub, blending residential, office and retail uses in a historically commercial corridor.

“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.”