FiDi Tower at 100 Pearl Street to Change Hands for $850M

German investor Commerz Real has entered into contract to purchase 100 Pearl Street for $850 million, or about $900 per square foot. Sellers GFP Real Estate and Northwind Group recently completed a $250 million modernization of the 987,886-square-foot building formerly known as 7 Hanover Square. As part of the project a private entrance was constructed to create a building-within-a-building for the lower and middle portion of the building going by the address 50 Water Street, and now occupied by NYC Health + Hospitals under a 24-year lease; while the Securities and Exchange Commission occupies a big block space within the 100 Pearl Street component under a 20-year lease.