Apollo Provides $220M Construction and Redevelopment Loan for 101 Greenwich Street
By Cathy Cunningham January 21, 2026 6:30 pm
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The residential conversion of the former office building at 101 Greenwich Street is ready to roll with $220 million of construction and redevelopment financing now locked in, Commercial Observer has learned.
Apollo is the lender behind the floating-rate debt, sources said, while Newmark’s Jordan Roeschlaub, Chris Kramer and Holden Witkoff negotiated the transaction.
Pincus Co. first reported in December that owners Quantum Pacific and Metro Loft Management were planning a 600-unit residential conversion of the 26-story Downtown Manhattan office building.
Idan Ofer’s Quantum Pacific acquired the property — also known as 2 Rector Street — from BGO in February 2025 with a conversion in mind, paying slightly north of $100 million, sources told CO at the time. The transaction marked the London-based firm’s second investment in U.S. real estate, and Newmark’s Adam Spies, Adam Doneger and Michael Collins negotiated the sale while Skyline Properties‘ Robert Khodadadian, Daniel Shirazi and Daniel Davidov sourced the transaction.
Quantum Pacific’s first Manhattan buy was 767 Third Avenue, which is now also being converted to residential use alongside partner Metro Loft.
Apollo didn’t immediately return a request for comment. Newmark declined to comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com.
