The Real Deal New York

Emmes set to pay $160M for Oestreicher’s 160 Water Street

Firm also owns the FiDi office building next door
March 19, 2014 08:05AM

Real estate investment firm Emmes Asset Management is in contract to buy a 480,000-square-foot office building at 160 Water Street for $160 million in an off-market deal.

Oestreicher Realty is slated to unload the 24-story Financial District property at $333 per square foot. Emmes also owns the office building next door, at 180 Water Street, which it acquired from Melohn Properties for $151 million last year, as The Real Deal reported.

New York City Health and Hospitals and Beth Israel Medical Center are among the tenants. The building, which formerly housed AIG, is fully occupied except for a 20,000-square-retail space that covers three floors. Cushman & Wakefield brokers Michael Stone, Lindsay Anapol and David Tricarico are marketing that space. [NYP]Mark Maurer