Canadian biotech entrepreneur Carlo Bellini has made a significant investment in the New York City real estate market through his firm, 99c. The company recently acquired 180 Maiden Lane in the Financial District for $297 million from Clarion Partners and MHP Real Estate. This purchase marks Bellini’s second major investment in NYC real estate, following his acquisition of 175 Water Street for $252 million two years ago.
The glass tower, spanning over 1.2 million square feet and currently occupied by tenants such as National Debt Relief and City Year, was previously purchased by Clarion Partners and MHP Real Estate for $470 million in 2015. However, facing a maturing loan and potential foreclosure earlier this year, they opted to sell it at a short sale facilitated by Eastdil Secured.
Bellini’s interests also extend beyond commercial real estate as he is also the managing director of Bsquared Capital with investments in biomedicine and life sciences industries. With this latest acquisition under their belt, it is clear that Bellini’s firm is expanding its presence within the NYC market while maintaining diverse investments across various sectors.
