Celebrities are dropping checks for big time investments

Celebrities Arnold Schwarzenegger and LeBron James have invested in a $255.5 million office building.

Rendering of 787 Eleventh Avenue by Rafael Viñoly. © Neoscape

(New York, NY) — Celebrities Arnold Schwarzenegger and LeBron James have invested in Hell’s Kitchen. According to sources, the two icons are putting money into 787 11th Ave., an office building that is home to Pershing Square Capital Management, and Georgetown Company.

Adam Flatto, owner of Georgetown, and Bill Ackman, owner of Perishing Square Capital Management, purchased the building back in 2015 for $255.5 million. The building, being renovated with the help of architect Rafael Viñoly, is said to have a tennis court on the roof for Ackman. Talk about a sweet set up!

This isn’t the first we are seeing of Georgetown, which is also responsible for the development of Barry Diller’s Frank Gehry, designed IAC building. The company has also received investments from Jimmy Lovine and Tom Werner, two big names in the music and sports industry. Though the value of the investments have not been released, the future is looking bright for these companies.

According to the Business Insider , celebrities from all industries have been big-time investors. Such as Will Smith’s investment in the startup BioBeats and the clothing company Vastrm, Jay Z’s investment in JetSmarter, and Tyra Bank’s investment in The Muse.

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