BHI Provides A $169.5 Million Construction Loan to Quantum Pacific Realty to Convert 767 Third Avenue from a 282K GSF Office Building Into a Mixed-Use Asset Featuring 337 Residential Units in Midtown East

NEW YORK, JUNE 1, 2026 – BHI, the U.S Branch of Bank Hapoalim, B.M. and a full-service commercial bank, today announced that it has provided Quantum Pacific Realty and partner MetroLoft with a $169.5 million construction loan to convert 767 Third Avenue from a 282k GSF office building into a mixed-use asset in Midtown East, including 337 residential units supplemented by 68k RSF of commercial space and multiple floors of high quality amenities.

The amenity program includes an attended lobby with 24-hour doorman, extensive fitness and wellness programming (fitness center, sports simulator, spa, meditation and treatment rooms), co-working and lounge spaces, wraparound terrace, rooftop lounge / cabana bar, landscaped roof deck, bicycle storage, and tenant storage.

The Borrowing entity, 767 Third Property Owner LLC, is a joint venture between affiliates of Quantum Pacific Realty and MetroLoft.  Quantum Pacific Realty, the real estate arm of the Quantum Pacific Group – whose associated companies hold diversified global assets across shipping, energy, technology, and sports – has assembled a growing Manhattan portfolio that includes 845 Third Avenue and 101 Greenwich Street.  MetroLoft, founded in 1997 by Nathan Berman, is a Manhattan-based developer specializing in office-to-residential conversions. The firm has completed multiple large-scale adaptive reuse projects, including 443 Greenwich Street, 20 Exchange Place, and 63 Wall Street, and is currently working on the largest office-to-residential conversion in the country, at the former Pfizer headquarters, which will consist of 1,600 units and over 125,000 square feet of amenity space.

The Sponsors are repeat clients of BHI, having tapped a $55 million bridge loan with the bank in December 2024 to finance the acquisition of the asset and, more recently, Quantum Pacific and MetroLoft also secured an $88 million senior term loan from BHI for pre-development financing for a similar office-to-resi conversion at nearby 845 Third Avenue.

“At BHI, our lending philosophy has always centered on backing experienced sponsors, investing in long-term relationships, and supporting projects that contribute meaningful value to the communities they serve,” said Gil Karni, Chief Executive Officer, BHI. “We are especially proud to continue building alongside repeat sponsors who share our long-term commitment to creating assets that will shape how future generations live, work, and experience New York City.”

“Manhattan continues to stand at the center of global real estate investment and development activity, and at BHI, we view supporting transformational projects in the city as core to our long-term vision for strategic lending,” said Ilana Druyan, Senior Vice President - Team Leader and Head of International Origination – CRE, at BHI. “Developments like this underscore the importance of pairing experienced sponsors with thoughtful financial solutions that can help move ambitious projects from vision to reality while contributing to the continued evolution of New York’s housing landscape.” 

BHI, the U.S Branch of Bank Hapoalim, B.M., Israel's leading financial institution, provides commercial banking solutions to middle market clients in sectors including commercial real estate; general, domestic and Israeli C&I; private equity and specialty finance; renewable energy; healthcare; corporate banking; and technology and data centers.  In addition to its New York headquarters, the bank operates U.S. Representative Offices in Woodcliff Lake, New Jersey; Miami, Florida; and Los Angeles, California. For more information, visit www.bhiusa.com. 

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