Cooper Square Realty is managing the Machinery Exchange, a Downtown luxury loft building. The company's new development group worked with the developer in the planning and pre-opening phases. The seven-story, 14-unit condominium at Baxter and Hester Sts. was built as a stable for the New York City Police Department in the 19th Century and then converted to a warehouse for machine and tool vendors. The new development group, under the leadership of Cooper Square vice president Marc Kotler, specializes in assisting developers of new residential buildings and conversions by providing consulting services during the planning phases, preparing the property for occupancy and then serving as property manager. To date it has been involved with more than a dozen Downtown properties.