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Woolworth Building Could Change Hands for $500 Million

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The Woolworth Building has a way of surfacing every so often, dropping a bombshell, and disappearing for another few years. Last year?after a major reno to give it more of an air of exclusivity?the owners were thinking about turning the top floors into a hotel or rental apartments. Now, as it turns out, they might just sell the place. For $500 million.

The Post hears there are multiple offers for the property?two for the entire building, and others for just the top of the tower. Plans to convert that portion of the building into two condos have already been approved once, so we wouldn't be surprised if a new owner revived that idea (hint, hint). Either way, the $500M offers are a nice bump in value for the Cass Gilbert-designed building, which last sold for $137.5 million in 1998.
· Woolworth Building could fetch $500 million [NYP]
· Woolworth Building coverage [Curbed]