Apollo And JP Morgan Provide $475 Million Loan For Office-to-Residential Conversion By RXR And One Investment Management

The asset involved is an office-to-residential conversion located at 61 Broadway in the Financial District, Manhattan. This property features a total of 796 units. The loan amount for this transaction is $475,000,000, which comprises construction financing and tax equity.

Summary of transaction details:

• Property Type: Office-to-Residential Conversion
• Transaction Amount: $475,000,000
• Units: 796
• Lender: Apollo & JP Morgan
• Landlord: RXR & One Investment Management
• Brokers: Andrew Scandalios, Drew Isaacson, David Giancola & Jennifer Zelko - JLL
• Date: 2/27/2026
• Address: 61 Broadway
• Market: Financial District, Manhattan
• Loan Type: Construction financing and tax equity

The key individuals involved in the transaction include Andrew Scandalios, Drew Isaacson, David Giancola, and Jennifer Zelko, all representing JLL in this deal. They played a significant role in facilitating the loan arrangement between the lenders and the landlords.