Joseph Hoffman's Bushburg Properties is in contract to buy 60 Wall Street in Manhattan's Financial District for $400 million from Singapore's GIC sovereign wealth fund. The 1.6 million-square-foot tower last sold for over $1 billion in 2017, when GIC acquired a 95 percent stake from Paramount Group and Morgan Stanley for $1.04 billion.
Deutsche Bank vacated the building in 2021. The 46-story tower, built in the 1980s by J.P. Morgan Chase, originally served as a single-tenant headquarters.
Bushburg Properties specializes in office-to-residential conversions. The company has an opportunity to convert this former office asset into a residential tower. Gary Phillips and Will Silverman of Eastdil Secured Savills represented GIC in the sale. Bushburg Properties and GIC did not respond to requests for comment.