Slate Property Group and Avenue Realty Capital have scooped up 45 White Street, a seven-story cast-iron multifamily building in Tribeca, for about $32 million, locking down another converted loft-style rental in one of downtown's most fought-over corners. The purchase expands the partners' footprint in a neighborhood where family-sized apartments are still hard to come by, and where the mix of street-level commercial space and loft-style residences continues to be a winning formula.
Deal details
According to New York YIMBY, Slate and Avenue bought the roughly 33,500-square-foot property from Benchmark Real Estate Group and financed the deal through White Oak Real Estate Capital. YIMBY reports the partners paid about $32 million and notes that this is their second Tribeca acquisition in the past six months.
About the building
Public records list the property at approximately 33,500 square feet over seven floors, with 17 residential units and multiple commercial spaces, per PincusCo. Those records also show that the building was converted to residential use in the 2000s, although published accounts differ slightly on the original construction date, a familiar quirk with older loft buildings.
Interiors and amenities
The buyers' announcement highlighted residences with high ceilings, oversized windows, central air conditioning and high-end finishes, along with amenities that check the usual Tribeca boxes. On-site perks include a fitness center, a children's playroom and bicycle storage, plus about 2,000 square feet of commercial space at street level. New York YIMBY provided the listing details for the interiors and the amenity package.
Where this fits
The acquisition follows Slate and Avenue's purchase of 81 Franklin Street for about $30 million in fall 2025, part of a run of lower Manhattan conversion buys the firms have been chasing, according to a prior announcement. Slate Property Group said White Oak Real Estate Capital also financed that earlier Franklin Street deal.
Market context
Investors have been showing fresh interest in conversions and mid-sized multifamily properties in New York City, where overall transaction volume picked up through 2025 and conversion deals made up a notable slice of the action, according to a Cushman & Wakefield market brief. Cushman & Wakefield points to rising investor demand and a flight to quality that has helped support activity across Manhattan.
For neighbors and would-be tenants at 45 White, the immediate changes may be pretty low-key. New ownership typically means more leasing activity at the storefronts and some fresh capital going into interiors and common areas. Watch for permit filings and updated listings that will reveal whether Slate and Avenue keep the building as a straight rental play or decide to reposition parts of it.
