Vanbarton Group acquiring Vogue building in NYC for $320m

The Vanbarton Group is under contract to pay $320 million for 990 Sixth Avenue, also know as the Vogue. The 25-story tower was built in 1987 and has 320 units covering 400,000 square feet. The new owner has the option of converting the apartments into condominiums or renovating the property to bring in higher rents. The mixed use building has approximately 65,000 square feet of office space on its lower floors, a 120 space parking garage and 12,000 square feet of retail space on the ground floor.