Spanish billionaire Isak Andic’s real estate firm, Punta NA, bought a retail condo at 512 Broadway in Soho for $26.9 million, about half of what seller Invesco paid 14 years ago. The 19,000-square-foot space is leased to Cotton On, with nine years remaining. The deal, with a 5.9% cap rate, reflects strong demand but a steep loss for Invesco, which paid $55 million in 2010. Andic, founder of Mango, has transformed Punta NA into a major real estate investment firm with a reported €1.2 billion portfolio as of 2022.
Spanish billionaire Isak Andic’s
