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New York & Tri-State  + Downtown New York  + Apartments  | 

Leasing Commences at 1,320-Unit Office-to-Residential Conversion

GFP Real Estate, Metro Loft and Rockwood Capital have launched leasing for SoMA, a luxury rental tower that’s reportedly the nation ’s largest completed office-to-residential conversion to date. Located at 25 Water St. and standing 32 stories tall, the property is bringing 1,320 apartments to Lower Manhattan, along with approximately 100,000 square feet of lifestyle amenities.

“Converting office spaces into residential buildings has become a crucial strategy for reimagining New York City’s real estate landscape, with neighborhoods like the Financial District transforming into highly sought-after residential areas,” said Brian Steinwurtzel, co-CEO and principal of GFP. “We’ve brought together an exceptional team to turn SoMA into a premier residential destination.

“Additionally, SoMA is pleased to participate in both the Office to Residential Accelerator and the 467-M programs, important initiatives from Mayor Adams’ office that will support in bringing a substantial and diverse supply of new housing to New Yorkers,” he continued.

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Inside The Story

GFP's Steinwurtzel

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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