Nathan Berman’s Metro Loft Management and Israeli billionaire Idan Ofer’s Quantum Pacific purchased the 330,000-square-foot office building at 767 Third Avenue for $88 million from Sage Realty. The 40-story building, about half vacant, is set to be converted into residential use under the recently passed “City of Yes” legislation, which expanded conversion eligibility to buildings constructed before 1991. Berman highlighted the city’s 467-M tax incentive as a key factor in enabling such projects.
Nathan Berman’s Metro Loft Management
