The Real Deal New York

Cayre buys out Burkle at Soho House in $67M deal

Midtown Equities takes full ownership of Meatpacking building
February 18, 2015 05:15PM

Ron Burkle sold his stake in the property housing Soho House for $67 million, allowing Joseph Cayre’s Midtown Equities to take full ownership of the Meatpacking District property.

Midtown Equities bought the 48,000-square-foot commercial condo at 29 Ninth Avenue, the New York Daily News reported. Burkle, a billionaire who runs investment firm Yucaipa Companies, jointly acquired the building with Midtown Equities in 2012 for $81 million. At the time, Burkle took a 60 percent stake.

Soho House, a chic members club frequented by the likes of David Beckham and Nicole Kidman, has a long-term lease at the six-story building, which boasts a rooftop pool. [NYDN]Mark Maurer