NEW YORK, NY – Real estate firm 99c LLC has acquired a 31-story, 684,500-square-foot office tower in Manhattan's Seaport neighborhood for $252 million. The firm purchased the asset from privately-owned real estate investment and advisory firm Vanbarton Group.
Located at 175 Water St., the acquired asset is fully vacant and offers various repositioning opportunities. The property was renovated in 2014 and it currently features flexible 24,000-square-foot floorplates, 12-foot ceiling heights, expansive windows and two rooftop terraces. The tower is located near numerous subway lines, PATH trains, bus lines and the New York Waterway East River Ferry.
"99c is tremendously excited to deliver a comprehensive re-use plan in a prominent FiDi location," states 99c LLC co-founder Carlo Bellini. "The fabric of the Fox Fowle-designed building is visible from the Brooklyn waterfront and a prominent part of Fidi's skyline. When considering the challenges some commercial buildings are facing post-pandemic, we at 99c are looking for unique and sustainable ways to reinvent such spaces."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
