NEW YORK CITY—The 160 Water St. office building is reportedly under contract to be sold by Oestreicher Realty to Emmes Realty in a deal valued at more than $160 million.
In 2013, Emmes Realty acquired the adjoining 180 Water St. downtown tower from Alfons Melohn for $151 million, according to the New York Post.
The 160 Water St. building totals 480,000 square feet, making the reported purchase price north of $160 million worth around $333 per square foot. The impending sale to Emmes Realty is an off-market transaction.
The building is nearly fully occupied. Tenants include New York City Health & Hospitals Corp., and Beth Israel. Its only vacancy is a 20,000 square-foot, three- level retail space where a sports gym had been in operation. See story in the New York Post.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
