Vanbarton Group said Tuesday it had acquired 6 E. 43rd St. in Midtown Manhattan. The firm secured a $300-million loan from Brookfield to finance both the acquisition and redevelopment of the property, previously known as the Emigrant Savings Bank Building. The financing will support the purchase and the conversion of the existing office building into a 400,000-square-foot residential tower designed by Gensler.
The project will deliver 441 residential apartments, including 111 affordable units through the 467-m program. Construction is set to begin immediately.
“6 E. 43rd St. represents a significant opportunity to bring new housing to Midtown at a time when supply remains extremely limited,” said Vanbarton principal Joey Chilelli. “We are focused on delivering residences that combine high-quality design with amenities that enhance the daily lives of the residents.”
He added, “Brookfield has been an integral lending partner on our office-to-residential conversions and value-add multifamily platforms for more than a decade, and we are excited to add another transformative project to our long history of working together.”
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