Carlo Bellini’s 99c Pays $297M to Buy Fidi Office Tower 

Canadian biotech entrepreneur Carlo Bellini’s real estate firm, 99c, has acquired 180 Maiden Lane in the Financial District for $297 million from Clarion Partners and MHP Real Estate. The 41-story office tower near the South Street Seaport was previously purchased by Clarion Partners and MHP for $470 million in 2015. Facing a maturing loan and potential foreclosure, the firms opted for a short sale earlier this year, facilitated by Eastdil Secured. 

The glass tower spans 1.2 million square feet and is currently 68 percent occupied. Tenants include National Debt Relief, City Year, Splash, Cover Whale, and Royal Funding Group. This acquisition marks Bellini’s second significant investment in NYC real estate through 99c, following the firm’s $252 million purchase of 175 Water Street two years ago. Bellini, also managing director of Bsquared Capital, has been expanding his commercial real estate portfolio while maintaining interests in biomedicine and life sciences investments.