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Spotlight Content
Posted: December 23, 2025
2025 Year in Review: Morris Betesh, Arrow Real Estate Advisors
Founder & Managing Partner
Arrow Real Estate Advisors
What transaction, project, or key moment best reflected the direction of the New York CRE market this year?
The $320 million financing we arranged for Bushburg’s conversion of 80 Pine St. exemplified the direction of New York CRE this year. Arrow was among the first to recognize office-to-residential conversions as a viable means of adding product to the supply-constrained multifamily sector, and we’ve played a key role in educating lenders on their feasibility. Our understanding of the new 467-m incentive and ability to articulate the long-term value of these projects helped bring this transformative deal to life.
What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026?
Going into 2026, improving office fundamentals will create major opportunities in New York CRE. Return-to-office momentum has driven occupancy up, and demand is strengthening for well-located, high-quality, amenity-rich office buildings. With a significant share of older assets now headed for office-to-residential conversion, supply is tightening and the market is stabilizing. We expect increased strategic office acquisitions and asset repositioning as investor confidence grows.
What accomplishment, milestone, project or transaction stood out for you or your firm in 2025?
Our standout moment in 2025 was securing $350 million in financing for The Greenwich by Rafael Viñoly, an 88-story landmark residential tower. Partnering with Starwood, Arrow structured a creative recapitalization that reduced costs, strengthened the project’s foundation, and reinforced lender confidence, further underscoring the firm’s growing influence in complex, high-profile capital markets deals.
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