The Real Deal New York

Related’s Stephen Ross just picked up a condo in his firm’s luxury Tribeca development

Chairman joins long list of developers who bought at their own projects
By Konrad Putzier | December 06, 2018 12:25PM

Stephen Ross and 70 Vestry

Related Companies’ chairman Stephen Ross bought a $6.9 million condominium on the fifth floor of his firm’s Tribeca development, property records show.

The deal comes on the heels of a series of high-profile sales at 70 Vestry Street. In October, a unit Gisele Bundchen and Tom Brady had reportedly been looking at sold for $25.5 million.  Film producer Jack Heller picked up a $18.8 million apartment. And last year, the firm found buyers for its $50 million and $65 million penthouses.

The Robert A.M. Stern-designed building includes 47 units, an 82-foot swimming pool and a swash court. Related, which is marketing the condos in partnership with Corcoran Sunshine Marketing Group, bought the site from Ponte Equities in 2014 for $115 million.

Ross, who wasn’t immediately available for comment, joins a long list of developers who have bought units at their own projects, including William Zeckendorf, Ian Schrager and Michael Stern.