Nightingale, Wafra file second rehab plan at 111 Wall Street since $175M purchase

Nightingale Group and Wafra, on July 6, filed a permit application for a $1.6 million rehabilitation of multiple floors of a building at 111 Wall Street in the Financial District.

The plans call for a rehab of floors 2 through 12 and 14 through 24 of the 255-foot tall, 24-story, building.

The project is described in the filings as: mechanical work to include demolition as shown on plans. The initial cost as reported in the DOB filing for the work described in this permit application is $1,629,031.

It is the second renovation filed by the development team since their purchase of the building earlier this year. Last month, on June 3, Nightingale filed plans for a $4,887,094 rehab of the same floors. Those plans have yet to be permitted.

The development tandem plans to pour as much $150 million into renovating the building, including a new lobby and tenant lounge.

The property was acquired for $175.0 million on January 15, 2020 from Zurich Insurance. The transaction consisted of 1 parcel, including the tax class office building tower type with 20 or more stories. SL Green Realty provided a $100 million acquisition loan to help facilitate the purchase.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

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