A year-end deal for billionaire grocery magnate and newbie real estate investor Ron Burkle’s Scoop building has closed for $96.44 million, according to public records filed with the city yesterday.
The deal represents a $30 million mark up over what the California-based tycoon paid for the five-story, 61,000-square-foot building at 428 West 14th Street one year previously. Sources told The Real Deal that Burkle, who has an ownership interest in tenant Scoop, made the deal more attractive to Thor by modifying the terms of the retailer’s lease. Scoop extended its lease in one portion of the building and shortened it in another, the source said. [more]