The Real Deal New York

Steven Wu breaks record with $21.5M buy on Staten Island

Office property transaction among the biggest in the borough's history

May 27, 2015 09:01AM

From left: One Edgewater

From left: One Edgewater Plaza in Staten Island and a rendering of the Staten Island Ferris Wheel

Developer Steven Wu has bought a 268,000-square-foot office building on Staten Island for a record-breaking $21.5 million.

The sale is one of the most expensive in the borough’s history, DNAinfo reported. Wu is also developing Queens Pointe as well as several other projects across New York City.

Wu bought One Edgewater Plaza, the website reported, where a New York Police Department precinct, Community Board 1 and the Board of Elections are currently located. Cassandra Properties brokered the transaction, according to the website.

Wu is planning to keep the property as an office building.

“We feel secure that our investment in the borough is sound,” Wu said in a statement cited by DNA.

The Staten Island waterfront is buzzing with change. Ground broke on the nearby Empire Outlets last month and the area will be home to the world’s largest ferris wheel. [DNAinfo] — Claire Moses