Billionaire Ofer’s firm buys NYC apartment building in Gramercy

GLOBAL Holdings Management Group, the real estate firm led by billionaire Eyal Ofer, bought a 57-unit apartment building just steps from Manhattan’s Gramercy Park.

The purchase price for 51 Irving Place was US$30.7 million, according to deed documents filed with New York City.

Manhattan apartment landlords have been pushing rents to records, emboldened by high demand and a shortage of listings. Last week, Ofer’s firm started leasing Anagram Columbus Circle, a luxury tower under construction near the southwest corner of Central Park, where rents for four-bedroom apartments start at US$26,150.

The Irving Place building “provided a unique opportunity to grow our multifamily portfolio, perfectly situated in one of New York’s most desirable neighbourhoods with incredible parks and amenities,” Ofer, Global Holdings’ chairman, said in a statement on Monday (Jun 26). “With the right investment, this will become a key part of our growing Anagram luxury residential offering.”

Ofer has a net worth of US$20.8 billion, according to the Bloomberg billionaires Index.

Anagram Columbus Circle is the firm’s second property under the Anagram brand, following the renovation of an existing rental building on East 29th Street in the Nomad neighbourhood.

Global Holdings also has been involved in building luxury condo projects in Manhattan, including 15 Central Park West, 18 Gramercy Park South and the Greenwich Lane. BLOOMBERG