Continuing its buying spree of late, Toll Brothers is in contract to buy a mixed-use building on 17th Street between Fifth and Sixth Avenues for $68.5 million. Six-story 55 West 17th Street currently houses a mix of offices and retail, but the developer could legally raze or convert it and erect a residential project of up to 92,000 square feet. Remember the United Cerebral Palsy headquarters on East 23rd Street, which Toll purchased last month for $150M? It can accommodate 200,000 square feet of residential development, so we're on double condo conversion alert. [The Real Deal; photo via Property Shark]
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