Vanbarton Group Finalizes $103M Acquisition of 1011 First Avenue
By Mark Hallum July 21, 2025 5:16 pm
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As the scriptures say, “let not the buyer [of 1011 First Avenue] rejoice nor the seller mourn; for wrath is against all their multitude.”
Which is all a very biblical way of saying that the Vanbarton Group has finalized its purchase of the Catholic Archdiocese of New York’s former Midtown East headquarters for $103 million, according to property records.
The deal has been in the works since media reports circulated in October 2024 that Vanbarton was eyeing the office building for a residential conversion for about $100 million. In May, they filed specific building plans.
Vanbarton and the archdiocese did not immediately respond to requests for comment.
The real estate group is planning 420 units of housing over 26 stories, along with 7,399 square feet of ground-floor retail, according to the plans filed with the New York City Department of Buildings.
The archdiocese signed a lease for 142,308 square feet of office space at the Feil Organization’s 488 Madison Avenue in January 2024, and began reducing its occupancy at 1011 First Avenue, also known as the Terence Cardinal Cooke Building, over the course of the last decade.
CetraRuddy Architecture has been retained to create the designs for the conversion of the property between East 55th and East 56th streets.
Mark Hallum can be reached at mhallum@commercialobserver.com.
