Zara billionaire to pay $500M for FiDi rental – Robert Khodadadian

is in contract to buy a rental tower in the Financial District for nearly $500 million, a splashy debut in the multifamily market for the fast-fashion billionaire. The Spanish entrepreneur’s real estate group Pontegadea is buying 19 Dutch Street, a 64-story tower spanning about 330,000 square feet, from Carmel Partners, sources told The Real Deal. The deal works out to roughly $1 million per unit for the 500-apartment building. It’s the first major multifamily purchase

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, breaking, breaking news, carmel partners, Financial District, Multifamily Market The Real Deal New York Read More