FiDi Office Building Sells for Less Than Half Its 2013 Value

Bushburg Properties has acquired the 21-story office building at 100 William Street in Manhattan’s Financial District for $70 million, which is $96.5 million less than the building sold for in 2013.

Will Silverman, Gary Phillips, and Jeff Organisciak of Eastdil Secured brokered the sale.

Bushburg bought the 422,000-square-foot office building, which is currently less than 50 percent occupied, from Canadian insurance firm Manulife, which had acquired the building through its U.S. division John Hancock from Japanese developer Mitsui Fudosan America in December 2013 for $166.5 million, according to an announcement at the time from Manulife. Mitsui had bought the building from Lighthouse Real Estate Ventures for $180 million in 2007, according to public records.

100 William Street sits between Platt and John streets in Lower Manhattan. Built in 1972 with designs by architectural firm Emery Roth & Sons, the office building was “substantially renovated” in 2012, according to Manulife’s announcement. The building was 95 percent occupied at the time of the sale the following year.

The Real Deal was first to note the current sale. 

Bushburg is currently converting the nearby 1.2 million-square-foot, 40-story 80 Pine Street, which it bought from Rudin in 2024 for $160 million, into 713 apartments. Bushburg made the purchase with the help of $100 million in financing from Carlo Bellini’s 99c, as Commercial Observer reported at the time.    

Tenants at 100 William Street include a Pearson Professional Center and law firm Gorayeb & Associates. The building’s retail space hosts an outlet of American Beauty Salons, an Orangetheory Fitness, and a Starbucks. 

Bushburg did not immediately respond to requests for comment, Manulife could not be reached for comment, and Eastdil Secured declined to comment.

Larry Getlen can be reached at lgetlen@commercialobserver.com.