This 100,000 square foot loft building in New York’s historic Soho district is widely recognized as one of the most creative and successful projects of its kind. Allied purchased the mortgage from the FDIC in partnership with the ten existing residential artist tenants. Following a two year rezoning to residential and retail use, Allied gut renovated the building and constructed 4 additional floors while the building remained occupied. A total of 31 condominium units were created with high-end finishes and fixtures that set a new standard of luxury for downtown residential conversions. The project is 100% completed and sold out, while apartment resales continue to achieve among the highest prices per square foot in the market today. The 30,000 square feet of retail space was leased to the New York Public Library and Polo Ralph Lauren.