Metro Loft, Quantum Pacific Plan 337 Units for 767 Third Avenue Conversion
By Isabelle Durso August 4, 2025 4:59 pm
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Nathan Berman’s Metro Loft Management and Idan Ofer’s Quantum Pacific have released more details for their major office-to-residential conversion project in Midtown East.
Robert Travis, director of development and construction at Metro Loft, filed plans last week to convert the current 40-story, 286,212-square-foot office building at 767 Third Avenue into a 337-unit residential building with 45,820 square feet of commercial space, according to a filing with the New York City Department of Buildings.
The plans call for nine to 11 apartments on each floor — beginning on the eighth floor — and office and commercial space on the lower floors, the filing shows. The project would also include a rooftop terrace, a laundry room and bike parking.
If the project is approved, the first apartments at the building on the corner of East 48th Street and Third Avenue would be slated to open during the second quarter of 2027, according to a source.
A spokesperson for Fogarty Finger, the architect on the project, did not immediately respond to a request for comment, while a spokesperson for Quantum could not be reached for comment.
New details for the project come after Quantum bought the Midtown East office building — which is currently home to United Nations University, private equity firm Goode Partners and law firm Greenberg, Trager & Herbst — from Sage for $88 million in November. Quantum partnered with Metro Loft on the conversion in January.
The London-based Quantum fronted the money for the $88 million acquisition, while Metro Loft secured a $55 million loan from Israel-based Bank Hapoalim for the building, CO reported in January.
News of the project comes during a busy time for office-to-residential conversions in Manhattan.
In addition to 767 Third Avenue, Metro Loft is working on conversions at 675 Third Avenue, 219 East 42nd Street, and the former Pfizer headquarters at 235 East 42nd Street.
Other conversion projects include Apollo Global Management, SL Green Realty and RXR’s transformation of the 38-story office tower at 5 Times Square into a mixed-use development with as many as 1,250 housing units, and the Feil Organization’s plan to convert 140 West 57th Street into 47 apartments.
Isabelle Durso can be reached at idurso@commercialobserver.com.
