Yankee legend Alex Rodriguez just might be your next landlord.
Retired third baseman Rodriquez just announced that he’s picked up a 21-unit rental tower in Manhattan’s East Village.
While this marks his first major real estate play in his adopted home town, he’s been dabbling in the Miami market for some time.
For the East Village purchase, A-Rod partnered with NYC real estate veteran Barbara Corcoran, who founded one of the city’s biggest brokerages and is now known for investing in business on ABC’s “Shark Tank.”
The celebrity duo plans to aggressively build up a portfolio of multifamily buildings across the city. They declined to share the address of their first joint buy, which has retail at its base, but say it is already generating “immediate returns.”
“Our first investment was a sweetheart deal, and we jumped at it,“ adds Corcoan, who got to know Rodriguez when he appeared on “Shark Tank.” “It took almost six months to negotiate, but Alex is incredible with this stuff. I thought he just hit balls, but he runs numbers.”
Future buys will focus on “undervalued neighborhoods, undermanaged buildings [and] misused land,” Rodriguez said in a statement.