Big Mortgage Loan Goes to Downtown Resi Property

The former office building at 70 Pine St. has been converted into 612 residential apartments and a hotel.

NEW YORK CITY—A joint venture between DTH Capital and Rose Associates—which goes by the name of EBNB 70 Pine Owner—has secured a $375 million mortgage and mezzanine loan for 70 Pine St., in Lower Manhattan.

The owners acquired the 67-story, former office building in 2011 and converted the one-million-square-foot landmark property into 612 residential apartments and a hotel with additional restaurant and retail components. The asset has several prior names, including the American International Building, 60 Wall Tower and, originally, the Cities Service Building. It sits at the corner of Pearl Street and runs to Cedar Street.