Quantum Pacific, Metro Loft land bridge loan for 845 Third Ave conversion

Idan Ofer and Nathan Berman are in the driver’s seat for the latest Midtown Manhattan office-to-residential conversion. The leaders of Quantum Pacific and Metro Loft Management, respectively, secured an $88 million bridge loan for the redevelopment of 845 Third Avenue, the Commercial Observer reported. Bank Hapoalim issued the debt to the partners. The loan will facilitate the conversion of the 350,000-square-foot property, which has been an office for more than six decades. Neither of the developers behind the project responded to requests for comment from the publication. It’s also unclear if Rudin, which owned the building, has any involvement with […] This article originally appeared on The Real Deal. Click here to read the full story.