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ZG’s Bruckner Building Deal Lands $48M Loan
Cushman & Wakefield recently advised ZG Capital Partners in obtaining $44.8 million in acquisition financing for the Bruckner Building, a loft-style office building in the South Bronx’s Mott Haven neighborhood. The financing was provided by Ladder Capital.
ZG Capital, a partnership between Bobby Zar and James Tamborlane, officially purchased the Bruckner Building for $65 million, the first purchase of their new venture. The partnership plans to buy and reposition office, industrial and mixed-use buildings throughout Manhattan and the outer-boroughs.
“We think the Bruckner Building perfectly showcases our strategy and the type of assets we are looking to acquire,” said Tamborlane.
A Cushman & Wakefield team of Gideon Gil, Alex Lapidus, Maya Steinberger and Adam Doneger represented ZG. Cushman & Wakefield will also serve as property manager for the new ownership.
“The Mott Haven submarket of the South Bronx is experiencing a surge in commercial and residential demand,” said Gil.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
