Photo by Steve Adams |Banker & Tradesman Staff

A new development team will attempt to complete an office-to-housing conversion in Boston’s South End that was placed on the market by the existing owner.

CIM Group had proposed a 91-unit housing conversion for the warehouse-turned-office building at 95 Berkeley St. before placing the property on the market last fall through CBRE.

95 Berkeley OTC LLC intends to convert the upper floors of the building into 92 residential units, according to a notification letter from attorney Matthew Eckel of Fletcher Tilton PC submitted to the Boston Planning Department.

The corporate entity is registered to Morris Moinian, a New York hotel developer.

The project would qualify for the city of Boston’s tax abatement programming encouraging office to residential conversions.

The property has not yet changed hands, according to Suffolk County Registry of Deeds records. But the existing $44 million mortgage, issued in 2018, has been extended twice in the past year, most recently through Aug. 25.

Los Angeles-based CIM Group had planned to seek public subsidies to complete its financing for the housing conversion, because traditional financing sources would be too costly. The firm bought the property in 2016 for $43 million.

The office to residential conversion program has received 16 applications to convert 620,000 square feet of space in 21 buildings into 780 housing units, including 142 income-restricted units, according to the city. But only around 100 of those units have so far secured financing and begun construction.