A-Rod Forms Partnership to Buy New York City Apartment Buildings
A-Rod Forms Partnership to Buy New York City Apartment Buildings
(Bloomberg) -- He’s won a World Series ring and is engaged to Jennifer Lopez. Now A-Rod is realizing his dream of becoming a landlord.
Alex Rodriguez, whose Major League Baseball career spanned more than two decades, is teaming up with two Manhattan real estate veterans in a joint venture that aims to buy apartment buildings in New York City, according to a statement by the firms Wednesday.
“I have always had the ambition of owning rental apartments in New York,” said Rodriguez, who retired in 2016 after a career with the Seattle Mariners, Texas Rangers and New York Yankees, where he won a World Series.
A-Rod Corp., the investment firm led by Rodriguez, is teaming up with Manhattan apartment company Stonehenge NYC and the Modlin Group. Stonehenge, an owner of 2,700 apartments, will originate and underwrite new investments and manage the venture’s properties. A-Rod Corp. will introduce potential investment opportunities to its network of institutional and high-net-worth investors. Modlin will advise on design and layout of the units.
To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net
To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine Maurus, Daniel Taub
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