His private company, Pontegadea, has officially confirmed these exciting developments, corroborating an earlier report from the highly-regarded real estate platform, The Real Deal. The purchase price for this remarkable property is estimated at a substantial $500 million.
Pontegadea has disclosed that ongoing negotiations are underway, with the potential completion of the deal expected within the coming weeks. Amancio Ortega, an influential figure in the global business arena, not only established Zara but also holds a significant stake in the fashion retail giant, Inditex. His substantial wealth places him among the world’s top 30 wealthiest entrepreneurs.
The luxurious residential skyscraper in question is prominently situated at 19 Dutch Street in the heart of Manhattan, boasting an impressive height of 234 meters (770 feet), as outlined on its official website.
This prospective acquisition aligns with Pontegadea’s recent strategic moves, including ventures in Scotland where they acquired one of the largest single-office buildings, and in Toronto, where they purchased the iconic Royal Bank Plaza. The Royal Bank Plaza is a landmark skyscraper and serves as the headquarters for the Royal Bank of Canada. This significant investment amounted to approximately 800 million euros ($797.92 million).
Amancio Ortega’s investment vehicle, Pontegadea, has consistently demonstrated its commitment to real estate investments, both on a global scale and within Spain’s energy infrastructure sector.