NYC Developer to Buy Bank Building for Conversion to Housing

Developer Vanbarton Group agreed to buy a midtown Manhattan building that houses Emigrant Bank offices, with the intent to convert it to housing, according to people familiar with the deal.

Vanbarton is under contract to buy 6 E. 43rd St. from Milstein Properties for about $140 million, said the people, who asked not to be named citing private information.

A spokesperson for Vanbarton declined to comment. A spokesperson for Milstein didn’t immediately respond to a request for comment. Eastdil Secured is handling the transaction. A representative for the firm declined to comment.

Developers have been scooping up older office buildings ...