David Werner to Buy Durst’s 675 Third Avenue for $100M

David Werner Real Estate Investments is set to acquire The Durst Organization’s 675 Third Avenue, potentially for another office-to-residential conversion.

Werner, who is already at work on a major office-to-resi conversion project at the former Pfizer headquarters, is in contract to buy the 32-story Midtown office building for more than $100 million, according to a source with knowledge of the deal.

Newmark (NMRK)’s Adam Spies, Adam Doneger, Douglas Harmon, Marcella Fasulo and Avery Silverstein brokered the deal. Spokespeople for Newmark and Durst declined to comment, while a spokesperson for Werner could not be reached for comment.

Werner is still debating his exact plans for 675 Third, according to The Real Deal, which first reported the news.

But Durst put the 342,000-square-foot building up for sale in November as a candidate for a residential conversion, as it is in “one of the most central locations” in the city, Commercial Observer reported at the time.

Metro Loft Management CEO Nathan Berman, Werner’s partner at the Pfizer conversion at 235 East 42nd Street, is also potentially joining the project at 675 Third, according to TRD.

It’s unclear what will happen to current tenants at the building between East 42nd and East 43rd streets — including financial management firm Elite Financial Solutions and law firm Binder & Schwartz — under Werner’s new ownership.

The news comes amid a string of planned conversions in Manhattan, such as 80 Pine Street, 77 Water Street, 767 Third Avenue and 750 Third Avenue.

Isabelle Durso can be reached at idurso@commercialobserver.com.