Norwalk Office Towers to Be Converted into 286 Loft Apartments in $120 Million Project

A partnership of Saber-Hightower LLC and Granoff Real Estate has acquired the vacant 101 and 201 Merritt 7 office towers in Norwalk’s Merritt 7 park for a $120 million conversion into multifamily housing. The two eight-story buildings, constructed in 1980 and 1982 and comprising 511,000 sq ft of floor area and more than 1,300 parking spaces, will be reconfigured into 286 loft-style apartments—42 studios, 167 one-bedrooms and 77 two-bedrooms—averaging 983 sq ft each, with 26 units meeting the city’s affordable-housing requirement.

Bank OZK is providing a $75.5 million senior construction loan, and the development will feature a resort-style amenity deck with a swimming pool, cabanas, dog runs, a putting green and a bocce court. The developers emphasized that no structural changes are planned, preserving the buildings’ 11-foot ceilings and wall-to-window glazing to control costs. The location offers direct highway access and proximity to the Merritt 7 Metro-North station on the Danbury Branch, linking residents to Stamford, Greenwich and Manhattan. The project follows the recent sale of the remaining four towers in the park for $58.5 million.