The Real Deal New York

Panthers’ Vincent Viola pays $35M for Brooklyn Law building

2 Pierrepont the latest law school building to be sold

September 21, 2015 01:22PM
By E.B. Solomont


From left: Vincent Viola and 2 Pierrepont Street in Brooklyn Heights

Maybe it’s a better investment than a hockey team in South Florida?

Panthers owner Vincent Viola has scooped up a 12-story rental building from Brooklyn Law School in Brooklyn Heights for $35 million, The Real Deal has learned.

Viola, founder of Virtu Financial, closed on the 39-unit building at 2 Pierrepont Street on Sept. 10 after entering into contract in August, new property records show.

The building spans more than 40,000 square feet and houses 39 student and faculty apartments.

The law school, which paid $2.2 million for the property 30 years ago, put the building on the market earlier this summer. It has unloaded several buildings in recent years.

Last year, Jared Kushner’s Kushner Companies paid Brooklyn Law School $36.5 million for six multi-family properties at 89 Hicks Street, 18 Sidney Place, 144 Willow Street, 100 Pierrepont Street, 27 Monroe Place and 38 Monroe.

Cushman & Wakefield’s Stephen Palmese marketed the portfolio on behalf of the school.

Viola and his wife, Teresa Viola, president of invitation maker Maida Vale Designs, also own a 40-foot-wide townhouse at 12 East 69th Street. They paid $20 million for the mansion in 2005. They listed it for $114 million in 2013, later lowering the price to $98 million, before taking it off the market.