Bulldog Real Estate Buys 88 University Place for $46M

CIM Group sold 88 University Place, a Greenwich Village office building formerly co-owned by Arch Companies, to Bulldog Real Estate Partners and Acram Group for $46 million. The deal was recorded as Bulldog’s first acquisition.

The property is a 100,000-square-foot, 11-story building that is about 65% occupied. The new owners plan to upgrade the asset by adding pre-built suites aimed at AI and tech tenants. Bulldog and Acram secured $42 million in financing from BridgeInvest.

The sale followed default and foreclosure after Arch’s 2022 $71 million refinancing from CIM, which was followed by foreclosure within a year.