A real estate crowdfunding firm, Prodigy Network, is in the process of buying two buildings in the F.M. Ring portfolio for $100 million, just months after the properties previously traded hands for $76 million. The firm is in contract to buy 331 Park Avenue South for $51 million and 114 East 25th Street for $49 million. Founder Rodrigo Nino said that the property on 25th Street will have shared workspace combined with short-term rental apartments, while the Park Avenue South building will have 100 apartments and 20,000 square feet of workspace. Prodigy hopes to raise $20 million to fund the redevelopment at Park Avenue South. [TRD]
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