These numbers are so large & offices cost so much to maintain & lease up I have no idea if they will ever make $ no matter how much discount they get.
It really is the worst asset class IMO, and I've held that opinion pre-pandemic.
It's just a prestige thing cuz most are dtown
— Tmac4real (@Tmac4real1) April 17, 2024
David Werner has struck a deal to pay more than $100 million for a FiDi office building, which could be another resi-conversion play.
The investor is in contract to buy the late 1960s-era 100 Wall Street for about $115 million from Barings, sources told The Real Deal.
Werner, who recently teamed up with office-to-resi conversion king Nathan Berman on the former Pfizer headquarters in Midtown, could convert the Wall Street tower into apartments. His plans were not immediately clear.
Representatives for Werner and Barings did not immediately respond to requests for comment. A Newmark team led by Adam Spies and Josh King negotiated the sale on behalf of Barings.
therealdeal.com/new-york/2024/04/16/david-werner-buying-100-wall-street-from-barings-for-115-million/