Ponte Gadea Group, the U.S. investment arm for Spanish billionaire Amancio Ortega, has acquired a 56,000-square-foot office and retail building at 414 West 14th Street for $94 million, according to public records filed with the city today...
With a reported net worth of some $57 billion, Ortega is the world’s third richest man, per Forbes magazine’s most recent ranking, and is the head of Inditex fashion group, which owns the retail chain Zara. Ponte Gadea has developed properties in other cosmopolitan cities including Miami, where it was a partner on the development of the Epic Residences & Hotel at 200 Biscayne Boulevard.
Commercial brokerage Studley brokered the deal on 14th Street. A representative for the company was not immediately available for comment. Both Carlyle and Ponte Gadea declined comment. Sitt Asset could not be reached.World’s 3rd richest man snaps up Meatpacking offices for $94M
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