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athan Berman and InterVest Capital Partners are pushing forward with plans to transform 111 Wall Street, a 1.2 million-square-foot office tower in the Financial District, into residential units. The project involves converting the building into approximately 1,300 apartments, with construction slated to begin mid-2025 and rentals expected to debut the following year. Gensler will oversee the conversion process.

    Berman's Metro Loft Management and InterVest have secured an agreement for the conversion, which was confirmed by Berman in an email. He hinted at potentially utilizing the city's office-conversion tax incentive program but did not provide specifics about 111 Wall Street. Oaktree Capital Management, a partner in the project, has agreed to redirect funds originally allocated for office renovations towards the residential conversion.

    This development comes as part of a larger trend, with Berman actively converting several large office buildings into rental apartments throughout Manhattan. Other notable projects include the former Pfizer headquarters and 25 Water Street, both expected to deliver over 1,300 units each.