David Werner is set to purchase 675 Third Avenue, a 32-story office building from the Durst Organization, for over $100 million. The 340,000-square-foot property, located at Third Avenue and 42nd Street, is being considered for office-to-residential conversion, though its two-thirds occupancy with “sticky” leases may pose challenges. Werner, already working on a large conversion at the former Pfizer headquarters, has discussed the project with Metro Loft Management. The sale aligns with the City of Yes initiative, which facilitates conversions of buildings constructed before 1991. The Dursts originally built 675 Third Avenue in 1966.
675 Third Avenue
