416-Unit FiDi Multifamily Building Trades for $248M

Metro L

Metro Loft Management has sold the 416-unit mixed-use property located at 116 John Street in an off-market deal. The Financial district building sold to Silverstein Properties for $248 million, or $596,154 per unit, marking the developer’s first acquisition of a New York City residential property. The former office tower was converted by the seller into a mix of office, retail, and apartment-style hotel units, of which the units on floors 2 through 14 are currently leased to apartment-hotel hospitality company Sonder.

Source:    https://rew-online.com/silverstein-buys-116-john-street-from-metro-loft-for-250m/