6 East 43rd Street Case Study
Manhattan's Largest Office-to-Residential Conversion
400,000 SF
2025
Overview
The $135M sale of 6 East 43rd Street to the Vanbarton Group ranks among the most significant office-to-residential conversions in recent Manhattan history. Skyline Properties identified Vanbarton as the right buyer for the 27-story, 400,000 SF Midtown tower and built the deal around New York's 467-m tax abatement program. The plan turns an obsolete office building into 441 rental apartments, 111 of them affordable, financed by a $300M Brookfield construction loan.
The Challenge
The owner, Emigrant Savings Bank (Milstein Properties), needed to exit a large, obsolete Class B office building in a weak office market. Office tenants weren't showing up, and keeping the building competitive would have taken significant capital.
Our Solution
Skyline Properties saw the conversion play and brought the seller Vanbarton Group, a developer experienced in office-to-residential conversions. We structured the transaction to use the 467-m tax abatement program, which gives significant property-tax relief in exchange for creating affordable units.
The Result
The deal closed at $135 million, and Brookfield provided $300 million in construction financing. The building will become 441 rental apartments, including 111 affordable units. Both sides came out ahead: the seller exited at fair value, and the buyer secured a well-located conversion with favorable tax treatment.
Key Takeaways
- Largest office-to-residential conversion in recent Manhattan history
- The 467-m abatement delivers significant property-tax savings
- Off-market sourcing put a buyer in place before any public marketing
- Institutional construction financing from Brookfield made the conversion executable
Press Coverage
4 articles · 2 outletsFrequently Asked Questions
Who brokered the sale of 6 East 43rd Street?
Robert Khodadadian, Founder, President & CEO of Skyline Properties, brokered the $135M sale of 6 East 43rd Street to the Vanbarton Group in 2025.
How much did 6 East 43rd Street sell for?
The building sold for $135 million in 2025. Commercial Observer ran the closing under the headline "Vanbarton Closes $135M on 6 East 43rd Street."
What is happening to 6 East 43rd Street?
The 27-story, 400,000 SF Midtown office tower is being converted into 441 rental apartments, including 111 affordable units, financed by a $300M Brookfield construction loan under New York's 467-m tax abatement program.
Who bought and sold 6 East 43rd Street?
The Vanbarton Group acquired the property from Emigrant Savings Bank (Milstein Properties) in a 2025 off-market transaction sourced by Skyline Properties.
Deal Metrics
Transaction Parties
Buyer
Vanbarton Group
Seller
Emigrant Savings Bank (Milstein Properties)
Financing
$300M construction loan from Brookfield
Neighborhood
Midtown ManhattanView On
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More press on 6 East 43rd Street
8 press features covering the $135M transaction at 6 East 43rd Street.
The Exclusive Listing Myth: Why Manhattan’s biggest deals don’t need gatekeepers
This isn’t about running a “cattle call” or blasting every investor on earth with an offering memorandum that is the opposite of what sophisticated sellers need. It is about reach without noise, access without chaos, and discretion without restriction. It is about making sure that when the market speaks, everyone who should hear the question actually hears it.
Vanbarton Closes $135M on 6 East 43rd Street
27-story Midtown tower acquired by Vanbarton Group for conversion to 441 rental apartments. Brookfield provided $300M loan. 111 affordable units included. Vanbarton Group has closed on the acquisition of 6 East 43rd Street for $135 million with Brookfield providing $300M construction loan.
Vanbarton Group Pays $135M to Emigrant Bank for Office-to-Resi Conversion
Vanbarton Group finalizes $135M acquisition of 6 East 43rd Street from Emigrant Savings Bank, securing $300M construction loan from Brookfield for 441-unit residential conversion.
Vanbarton Office to Resi Midtown Conversion Brookfield
Vanbarton closes $135M 6 East 43rd Street acquisition with Brookfield $300M construction loan.
Vanbarton Group Closes on the Next Office to Resi Conversion, 6 East 43rd Street
Vanbarton Group closes on $135M acquisition of 6 East 43rd Street for office-to-residential conversion with $300M Brookfield financing.
Vanbarton 6 East 43rd Street Conversion $135M
Vanbarton acquires 6 East 43rd Street for $135M office-to-residential conversion.
Vanbarton Group Buying 6 East 43rd Street for Conversion
Vanbarton Group has agreed to buy 6 East 43rd Street from Emigrant Savings Bank for $135M for residential conversion.
Vanbarton Buys 6 East 43rd Street for Resi Conversion
Vanbarton Group acquires 6 East 43rd Street from Emigrant Savings Bank for $135 million residential conversion.
Price, buyer, seller, $/SF, source citations
