Retired NY Yankees slugger Alex Rodriguez, affectionately known to fans as “A-Rod,” has bought a 21-unit rental building in the East Village, an iconic Manhattan neighborhood in New York City. And that’s just the start of A-Rod’s NYC real estate ambitions, according to The New York Post, which first broke the news.

The former baseballer and fiancé of musician Jennifer Lopez has been dabbling in real estate since he purchased a duplex back in 2003.

Since then, Rodriguez’s firm, A-Rod Corp, has managed up to 13,000 apartment units across 10 states.

A part of the latest venture, Rodriguez partnered with real estate icon Barbara Corcoran, namesake of Realogy‘s Corcoran brand, to build up a portfolio of rental buildings in NYC.

In other words, NYC renters could soon be signing with A-Rod.

In an interview with CNBC last year, Rodriguez said that he first became interested in real estate after moving around a lot as a kid.

“Our first investment was a sweetheart deal, and we jumped at it,” Corcoran, who like Rodriguez is an investor on Shark Tank, told the New York Post. “It took almost six months to negotiate, but Alex is incredible with this stuff. I thought he just hit balls, but he runs numbers.”

As of now, not many details are available on how the apartment units will look like or how much they will cost. But with the help of Corcoran, Rodriguez is planning to take on New York real estate after doing it in Miami for years. The idea is to focus on  “undervalued neighborhoods, undermanaged buildings [and] misused land.”

Corcoran, who technically left real estate after selling her brokerage for $66 million in 2001, has also hired a group of football players who recently graduated from Columbia to find apartment leads in Manhattan and Brooklyn neighborhoods such as Greenpoint, Red Hook, Mott Haven, Inwood, and Morningside Heights.

“Rodriguez is a businessman through and through,” Corcoran said. “He’s got a big ego. I thought I had an ego, but I look like a mini-me next to him in the ego department. So I let him decide whether it’s a good building, even though before I show it to him I already know it’s great. I let him decide it’s his decision.”

Email Veronika Bondarenko

How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The Connect Expo: Explore the Latest Business ToolsCHECK IT OUT×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription