Beloved Art Deco skyscraper 70 Pine Street is already headed for partial residential conversion, and we just found out that 1 Wall Street might not be far behind. Is every Financial District office building with a bit of history going condo? Maybe! Now Crain's is reporting that embattled developer Kent Swig is close to unloading 140 William Street, and the bet is on the empty seven-story building becoming the latest luxury convert.
The price is reportedly $11.5 million, which sounds cheap (and indeed, Swig was hoping to get over $14 million), but is actually a lot more on a per-square-foot level than other recent FiDi building trades. According to PropertyShark, 140 William Street was built in 1942, and last sold in 2007 for $23.9 million. We'll check back in after Philippe Starck sticks a concierge in the lobby and a bowling alley in the basement.
· Kent Swig in deal to sell 140 William St. [Crain's]