Waterman Interests, LLC and HPS Investment Partners Announce Strategic Relationship for Redevelopment of 850 Third Avenue

NEW YORK--(BUSINESS WIRE)--Waterman Interests, LLC, a privately-held commercial real estate investment and operating company (Waterman), and HPS Investment Partners (HPS) have entered into a strategic relationship for the redevelopment of 850 Third Avenue, a 605,000 square foot, 21 floor office building in Manhattan. Built in 1961 and designed by Emery Roth Architects, 850 Third Avenue currently offers the largest block of available space in Midtown East -- more than 400,000 square feet -- and