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CIM Group Divests Greenwich Village Boutique Offices for $46M
Newmark arranged the sale and financing of 88 University Pl., a 100,000-square-foot Beaux-Arts office building with ground-floor retail located in Greenwich Village. A joint venture between newly formed Bulldog Real Estate Partners and Acram Group acquired the asset from CIM Group for $46 million. The acquisition marks Bulldog’s first since its founding in 2025 by partners Rob Goldman and Sam Goldsmith.
Co-head of U.S. Capital Markets Adam Spies, executive vice chairman Adam Doneger and managing director Michael Collins at Newmark represented the seller and procured the buyers. Newmark co-president, Global Debt & Structured Finance Jordan Roeschlaub, vice chairman Nick Scribani, senior managing director Max Ralby and associate Ryan Bub arranged $42.5 million in acquisition and business plan financing on behalf of the JV. BridgeInvest provided the loan.
“We identified a unique opportunity to acquire a well-located asset in one of Manhattan’s most supply-constrained submarkets at a basis that supports a comprehensive repositioning,” said Goldsmith. “This acquisition marks an important milestone for Bulldog and we look forward to delivering a thoughtfully reimagined workplace that meets the evolving needs of today’s tenants.”
Photo courtesy of JLL.
- ◦Sale/Acquisition
