Frequent Partners, Nightingale Properties and Wafra Capital Partners (WCP) is seeking a redevelopment loan to finance the renovation and modernization of 111 Wall Street, a 25-story waterfront office building in the Financial District.

The partners plan to transform the old Citibank building into “the workplace of the future” with the latest contactless technology, a white-gloved tenant amenity program that includes 40,000 sq. Ft. Of basement, ground floor floor and roof space.

Designed by Studio Architecture, the redevelopment will include a 125-seat conference center, event space, bicycle and scooter charging room, dining options, cafe, fitness center and spa.

There will also be multi-story outdoor and green space and 1.1 million square feet of customizable Class A office space.

Tenants ‘office floors and equipment will be programmed taking into account social distancing standards and a 111 wall app will be available on tenants’ smartphones.

Sources say Nightingale and WCP have signed a firm contract to acquire the rental position in the building which they hope to ultimately convert to a fee simple position upon completion of the nearly $ 1 billion redevelopment.

A knight Frank of Newmark team led by Dustin Stolly and Jordan Roeschlaub buys the debt for the partnership.

The support team includes Senior Managing Director Nick Scribani, Don Pavlov and Dominick Calisto. A rental team from Jones Lang LaSalle led by Clark Finney, Frank Doyle, Benjamin Bass and Andrew Coe handles the rental of the project.

Nightingale and WCP acquired the leasehold interest in 111 Wall Street in January 2020 following the departure of Citigroup, which had been the sole tenant for the past 20 years.

At the time of the lease acquisition, the ground lease had a term of 19 years before a reset of fair market value.

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