Real Estate
More Old Wall Street Offices Slated for Apartment Conversion
- Vanbarton agrees to buy 77 Water St. for roughly $95 million
- Developer may create up to 600 units at lower Manhattan tower
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Manhattan-based Vanbarton Group is under contract to buy 77 Water St. with plans to convert the lower Manhattan property to apartments, according to people familiar with the matter.
Vanbarton agreed to pay roughly $95 million for the 26-story tower and could create as many as 600 rental units, said one of the people, asking not to be named citing private discussions. The deal for the 1970s-era building, which is owned by investors including Sage, is expected to close before the end of the year, the people said.