New York's Former NYSE Home Secures $192M Loan for Residential Conversion
ByAinvest
Wednesday, Feb 4, 2026 4:15 pm ET1min read
NMRK--
GFP Real Estate has secured a $192 million construction loan to convert the former NYSE headquarters at 40 Exchange Place in Manhattan into a residential building with 382 apartments, including market-rate and affordable housing. The project will also feature ground-floor retail space and tenant amenities. The loan was provided by Derby Lane, an alternative investment manager, and arranged by a Newmark Group team. The redevelopment will be supported by federal and state historic rehabilitation tax credits and a 35-year tax abatement.
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