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Invesco closes on $380M sale of NoMad apartment building to Global Holdings

By James Hagedorn

Invesco, through its entity Gateway Belvedere LLC, has sold 7 East 28th Street a luxury residential mixed-use tower, also known as the Instrata Nomad, to Global Holdings Management Group for $380.6 million.

The building has 404 residential units and one commercial unit with a total of 389,000 s/f of residential space and 18,000 s/f of commercial space.

Global Holdings Management Group used an entity called 10 East 29th Street Associates LLC to acquire the property, according to public records.

Invesco had purchased the building in 2012 for $300 million from Rose Associates, while the building was still branded as the Madison Belvedere.

Global Holdings Management Group also owns 30 East 29th Street, in the Rose Hill neighborhood where it has developed a new residential high rise with partner The Rockefeller Group called the Rose Hill which will open for occupancy this Summer.

Global Holdings Management Group’s New York portfolio also includes 15 Central Park West, 1250 Broadway and 99 Park Avenue.

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