Monday, June 3, 2019

Moneyball: Is A-Rod your new landlord?

Alex Rodriguez's post-baseball résumé also includes NYC real-estate investor.

A-Rod, whose career included an unprecedented 211-game suspension for performance-enhancing drugs, is the new owner of "a 21-unit rental tower" in the East Village, the Post reported.

No word on the address of the building. (If you happen to know, then please hit us up in the tip line.)

Per the Post:

For the East Village purchase, A-Rod partnered with NYC real estate veteran Barbara Corcoran, who founded one of the city’s biggest brokerages and is now known for investing in business on ABC’s “Shark Tank.”

Through their company A-Rod Corp. — and funded by their personal fortunes — the celebrity duo plan to aggressively build up a portfolio of multifamily buildings across the city. They declined to share the address of their first joint buy, which has retail at its base, but say it is already generating “immediate returns.”

“Our first investment was a sweetheart deal, and we jumped at it,“ adds Corcoan, who got to know Rodriguez when he appeared on “Shark Tank.” “It took almost six months to negotiate, but Alex is incredible with this stuff. I thought he just hit balls, but he runs numbers.”

While this is his first NYC purchase, the former Yankee has a large real-estate investment portfolio that dates to 2003.


Anonymous said...

Ah, yes, those two huge egos are like loose icebergs; I wonder if they'll crash into each other.

They may as well have said "Hi, we're here to mess up your building/neighborhood - you may like it the way it is, but we can squeeze MUCH more money out of it, so too bad for you!"

To put it another way: MORE DEMOGRAPHIC CLEANSING is coming our way, brought to us by snobs who have obscene amounts of money and very little concern for the actual people living here.

Is A-Rod the new Kushner/Toledano? We shall see!

Anonymous said...

word is the building they purchased currently belongs to the Kush.