Metro Loft Completes $345M Recap of 180 Water Street With 60 Guilders, Sentry Realty
Deutsche Bank also provided a $280 million CMBS refi for the property
By Cathy Cunningham July 31, 2025 2:20 pm
reprints
There’s definitely something in the Water.
Nathan Berman’s Metro Loft has officially wrapped its $345 million recapitalization of 180 Water Street, Commercial Observer has learned.
The recap of the luxury rental building — valued at roughly $345 million — includes the sale of a 49 percent stake in the property to 60 Guilders and Sentry Realty, and a $280 million commercial mortgage-backed securities (CMBS) loan from Deutsche Bank, sources said.
Newmark’s Adam Spies, Adam Doneger and Michael Collins arranged the recap, while Newmark’s Jordan Roeschlaub, Nick Scribani and Chris Kramer negotiated the debt.
Commercial Observer was first to report that a recap was underway in May, and that Kevin Chisholm’s 69 Guilders and Sentry Realty — led by Alen Mamrout and Joe Mamrout — were coming into the deal as new equity partners.
The 460,0000-square-foot building between Fletcher and John streets was originally built as an office tower in 1971 and purchased by Vanbarton Group in 2013. Metro Loft came into the deal in 2014, acquiring an “around 10 percent” stake in the property. The two firms converted the building to residential use in 2017 then Metro Loft acquired the building in full, paying its partner $450 million.
Today, the luxury building — also known as Aqua House— features a rooftop pool with panoramic views over the Brooklyn Bridge and the East River, as well as a yoga studio and a gaming area.
Deutsche Bank was also the property’s previous lender, providing a $265 million CMBS loan on the property that Metro Loft failed to pay off at maturity last November, prompting special servicer CW Capital Asset Management to file a pre-foreclosure action against the borrower, PincusCo reported at the time. With the recap now complete, that motion is put to bed.
60 Guilders, Newmark and Deutsche Bank declined to comment. Nathan Berman and Sentry Realty didn’t immediately return requests for comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com.
