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Zara’s Billionaire Owner to Buy Luxury New York Apartment Building for $500 Million

  • Spain’s Ortega reaches accord to buy 19 Dutch building
  • Inditex owner manages investments via Pontegadea holding firm
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Amancio Ortega, the billionaire founder of the Zara clothing chain, has agreed to buy New York’s 19 Dutch apartment building.

Ortega’s holding firm Pontegadea has reached an accord to acquire the 64-floor luxury apartment complex for about $500 million, according to details published by trade publication The Real Deal and confirmed by a spokesperson for Ortega. The building was sold by Carmel Partners.