Israeli billionaire provides $53M cash infusion for NoMad resi tower

Eyal Ofer’s Global Holdings is the preferred-equity investor at 30 East 29th Street

TRD New York /
Oct.October 01, 2018 02:45 PM

Renderings of 30 East 29th Street and Ofer Global’s Eyal Ofer (Credit: CityRealty and Ofer Global)

The Rockefeller Group and Mitsubishi Estate Company landed a $52.5 million preferred-equity investment from real estate and shipping mogul Eyal Ofer for their planned NoMad condominium tower.

The developers plan to build a 46-story, 600-foot-tall, 123-unit tower at 30 East 29th Street that will span 170,000 square feet. Rockefeller bought the five adjacent parcels between Madison and Park Avenues for $98.7 million in 2017 and Mitsubishi took a 75 percent stake in the project, according to the city’s Department of Finance.

Ofer’s Global Holdings owns the nearby office building 1250 Broadway, which it acquired for $565 million in 2016. In May, the company made a $100 million preferred-equity investment in Rubenstein Partners and Heritage Equity Partners’ retail and office project 25 Kent Avenue in Williamsburg.

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