Cadre’s Marcos Alvarado buys Pierhouse pad

Starwood alum joined Kushner-backed startup in July

The Pierhouse and Marcos Alvarado
The Pierhouse and Marcos Alvarado

Now that former Starwood Capital Group [TRDataCustom] executive Marcos Alvaredo works for real estate finance startup Cadre, he is technically a techie. And techies live in Brooklyn, so it’s only fitting that he dished out $3.7 million for a Dumbo pad.

The 2,524-square-foot unit at Toll Brothers City Living’s 106-unit Pierhouse project at 90 Furman Street has three bedrooms and two baths.

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Alvarado went into contract for the pad in 2014, when he was still working as a managing director at Starwood Capital Group. The deal closed earlier this month. Starwood is a partner in the project, which makes this another case of a developer buying from his own supply.

Alvarado joined Cadre, the online real estate investment marketplace backed by the Kushners, George Soros and Alibaba’s Jack Ma, in July as its head of acquisitions.

Alvarado will share the building with Stribling & Associates president Elizabeth Ann Stribling-Kivlan, who bought a $2.9 million condominium at the Pierhouse last year.