Silverstein, Metro Loft Put 55 Broad Street on the Market, Seeking $500M-Plus

In the market for a luxury residential building in Lower Manhattan? You’re in luck. 

Silverstein Properties and Metro Loft Management have put their 344,000-square-foot multifamily building at 55 Broad Street in Manhattan’s Financial District up for sale, Commercial Observer has learned. 

Newmark’s Adam Spies, Doug Harmon, Adam Doneger, Marcella Fasulo and Avery Silverstein are marketing the property, according to a source familiar with the deal, and a sales price above $500 million is being targeted. 

The 30-story building, on Broad Street between Exchange Place and Beaver Street, includes 571 units — 143 of which are affordable — and 8,340 square feet of retail space. Its residential component is roughly 76 percent occupied, according to an offering memorandum viewed by CO. Its 25,000-square-foot amenities space includes a gym, a sports simulator and a rooftop pool.

Designed by Emery Roth & Sons in 1967, the building once served as Goldman Sachs’ headquarters. Silverstein and Metro Loft acquired the then-office building from the Rudin family in July 2022, paying $172.5 million. Rudin and Ares Real Estate retained stakes in the property following the sale. The building’s new owners then undertook one of the largest office-to-residential conversions in New York City at the time. 

“We can confirm that 55 Broad Street is for sale – that was our plan from the beginning,” a Silverstein spokesperson said. “The conversion has been a tremendous success: The building and all of its amenities are complete, and it is already over 75 percent leased. It’s a wonderful building in a terrific location, and we are very proud of the job our team did.”

Metro Loft didn’t immediately return a request for comment. 

Cathy Cunningham can be reached at ccunningham@commercialobserver.com.