NYC office tower sold at 60% discount, reflecting commercial real estate meltdown.

Sharing is Caring!

See also  Is China's era of parabolic growth coming to an end? With a soaring debt burden, looming real estate meltdown, and declining population and fertility rates.

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.

See also  Real estate crashes in South Padre Island: 284 houses for sale at the same time.

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/

Views: 174

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.