CIM Group sells former WeWork building after foreclosure

by The Real Deal

CIM Group has sold a Greenwich Village office building once co-owned by Adam Neumann to a New York-based group. Sam Goldsmith and Rob Goldman’s Bulldog Real Estate Partners teamed up with Acram Group to acquire 88 University Place for $46 million, records show. The sale was Bulldog’s first acquisition, Goldsmith said. The new owners plan to upgrade the 100,000 square foot, 11-story office building, including adding pre-built suites to attract AI and tech tenants. The building is about 65 percent occupied, according to Goldsmith. Bulldog and Acram secured $42 million in financing from BridgeInvest. Crain’s first reported on the deal. […] This article originally appeared on The Real Deal. Click here to read the full story.