LeBron James, Arnold Schwarzenegger are investors in Georgetown and Bill Ackman’s Far West Side office building

Celebrities join ownership at 787 11th Avenue

New York /
May.May 14, 2018 09:05 AM

From left: LeBron James, Arnold Schwarzenegger and 787 Eleventh Avenue

A group of celebrities including LeBron James and Arnold Schwarzenegger has invested in Georgetown Company and Bill Ackman’s Hell’s Kitchen office building.

Georgetown also brought in music mogul Jimmy Iovine and Boston Red Sox chairman Tom Werner as investors on 787 Eleventh Avenue, the New York Post reported. The value of the investments was not disclosed.

Adam Flatto’s Georgetown Company and Ackman’s Pershing Square Capital Management bought the 464,000-square-foot former Ford Motor Co. building in 2015 for $255.5 million.

Pershing Square is relocating its offices to the Far West Side building, where it inked a lease for 67,000 square feet in 2016. Ackman, an avid tennis player, is building a tennis court on the building’s roof. [NYP]Rich Bockmann


Related Articles

arrow_forward_ios
From left: Milos Raonic, Venus Williams, Serena Williams and Novak Djokovic (Credit: Getty Images)
Luxury real estate anyone? US Open stars and their palatial pads
Luxury real estate anyone? US Open stars and their palatial pads
Lena Dunham and 60 Broadway (Credit: Getty Images)
Lena Dunham’s “massive real estate mistake”
Lena Dunham’s “massive real estate mistake”
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
Mayor Bill de Blasio (Getty, iStock)
NYC to revive $17B in public construction projects
NYC to revive $17B in public construction projects
Houston House at 298 East 2nd Street and Matt Lee (Houston House, LinkedIn)
Developer Matt Lee to auction off East Village condo
Developer Matt Lee to auction off East Village condo
arrow_forward_ios

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

Loading...