Bushburg buys FiDi office at steep discount for possible resi conversion

Joseph Hoffman’s Bushburg Properties has snapped up another deeply discounted FiDi office building. Bushburg bought the 1970s-era office building at 100 William Street for $70 million, The Real Deal has learned.  That’s less than half the $167 million price tag the seller, Canada’s Manulife insurance group, paid for the 21-story tower twelve years ago. At that time, the 400,000-square-foot building was home to the real estate operation of Manulife subsidiary John Hancock Financial and boasted a 95 percent occupancy rate. But today the building is about half empty, making it a strong candidate for a residential conversion. Bushburg is already […] This article originally appeared on The Real Deal. Click here to read the full story.