NBA legend David Robinson teams with Four Winds on $50M LES buy

Buildings on Ridge Street hold roughly 60 resi units as well as retail space

TRD New York /
Apr.April 21, 2015 04:20 PM

UPDATED, April 22, 12:54 p.m.: David Robinson is holding court on the Lower East Side.

The NBA Hall of Famer and founder of real estate investment firm Admiral Capital Group teamed up with Four Winds Real Estate to buy three Lower East Side residential buildings for roughly $50 million from Judah Klausner and Richard Freedman, The Real Deal has learned.

The properties include a 30-unit building at 110 Ridge Street known as the Coda, as well as the 20-unit 106 Ridge Street and 10-unit 118 Ridge Street. Together, the contiguous properties contain four retail units.

The New York Observer first reported the sale, but the buyers were not revealed at the time.

“Ridge Street provides Admiral with a unique opportunity to acquire three attractive properties in one of Manhattan’s most desirable neighborhoods” said Dan Bassichis, managing partner and co-founder of Admiral. “We have closely monitored the robust New York City multifamily market and are excited to close on our first New York property with Four Winds.”

Four Winds, led by Joshua Landau and David Schneiderman, also owns Gotham Court at 152 Ludlow Street and 149-151 Essex Street on the Lower East Side, which it acquired for $19.1 million in 2013. “The Lower East Side is poised to continue its transformation into the cultural epicenter of New York City,” Schneiderman said of the Ridge Street deal.

Robinson was a San Antonio Spurs lifer and was inducted into the Hall of Fame in 2009. His nickname was “The Admiral” due to his service in the U.S. Navy.

This is Admiral Capital Group’s first New York buy. Its other acquisitions, often in partnership with USAA Real Estate Company, are scattered across California, Texas, Nevada and Georgia.

Eastern Consolidated’s Deborah Gutoff and Ronda Rogovin brokered the transaction. Miron Properties’ Jeff Schleider, who handles leasing for the buildings, was also involved in the deal.


Related Articles

arrow_forward_ios
Ian Schraeger’s Public Hotel at 215 Chrystie Street (Getty, Google Maps, Dolly Lenz)

Penthouse at Ian Schrager’s Public Hotel asks double 2017 sale price

Penthouse at Ian Schrager’s Public Hotel asks double 2017 sale price
265 East Houston (Google Maps)

Tech entrepreneur’s dismembered body found in LES condo

Tech entrepreneur’s dismembered body found in LES condo
60 Norfolk Street and 1607 Surf Avenue (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Clockwise from the bottom: Judge Arthur Engoron, JDS Development’s Michael Stern, L&M’s Ron Moelis, Josh Siegel of Starrett with a rendering of Two Bridges (Credit: Twitter and Curbed NY)

Judge deals another blow to Two Bridges towers

Judge deals another blow to Two Bridges towers
One Manhattan Square’s adult treehouse (Credit: Extell)

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square
Essex Crossing

Inside the brand new Essex Crossing complex

Inside the brand new Essex Crossing complex
261 Broome Street (Credit: iStock and Google Maps)

Tenant’s lawsuit: “Roaches swarmed my bagel!”

Tenant’s lawsuit: “Roaches swarmed my bagel!”
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...