Canadian biotech entrepreneur Carlo Bellini has made a significant investment in the NYC real estate market through his firm, 99c. The company recently acquired 180 Maiden Lane for $297 million from Clarion Partners and MHP Real Estate, after the previous owners opted for a short sale facilitated by Eastdil Secured due to a maturing loan and potential foreclosure.
The office tower, located near the South Street Seaport, spans over 1.2 million square feet and is currently occupied by tenants such as National Debt Relief, City Year, Splash, Cover Whale,and Royal Funding Group. This marks Bellini’s second major purchase in NYC real estate through 99c following their acquisition of175 Water Street two years ago.
In addition to his role as managing director at Bsquared Capital,Bellini continues to expand his commercial real estate portfolio while also maintaining interests in biomedicine and life sciences investments.This latest acquisition showcases Bellini’s expertise in making strategic investments within the competitive New York City market.
