Nightingale Group and Wafra Capital Partners have entered into a contract to acquire the leasehold interest of 111 Wall Street from Zurich Insurance Group. The partnership is seeking roughly $445 million in acquisition and development financing for the $570 million project, according to CO who first reported the sale.
- Worth Noting: The 24-story office building spans 1.1 million SF, and occupies a full city block in the Financial District. The building is fully leased to Citigroup, but the investment bank will be vacating its space in December. Nightingale and Wafra will subsequently undertake a sweeping “Class A renovation” of the property.