An existing 15-story building located at 17 John Street, in Manhattan’s evolving Financial District. The venue is situated a block away from the new World Trade Center and directly next to Fulton Center, the third largest transit hub in New York City.
The building was acquired by a joint venture consisting of Shorewood, Prodigy Network, and Metro Loft in August 2014. The total project cost is estimated at $170 million. To date Shorewood secured $76 million of senior and subordinate debt for the acquisition and pre-development of the project.
Upon completion the building will have 18 stories, totaling 140,000 square feet. The base of the building will be gut renovated and 3 stories will be added to the top. The completed property will combine 50,000 square feet of collaborative workspace with 106 furnished residences that will be leased on a short term basis. The project is being designed by the globally recognized design boutique, Meyer Davis, which specializes in residential, hospitality, retail, and workplace environments around the world.