FiDi Residential Tower Trades for $487.5M

The Pontegadea Group, a real estate investing firm controlled by Spain’s Ortega family, which owns fashion retailers Zara and Anthropologie, has purchased the mixed-use rental building at 19 Dutch Street, which has an alternate address of 114 Fulton Street. The 49-story, 440,553-square foot tower that opened in 2019 hosts 483 residential units and 2-units totaling 5,531 square feet of retail space according to the New York City Department of Finance. The sale by developer Carmel Partners attracted a price of $487.5 million, or $1,005,155 per unit.