The Real Deal New York

Posts Tagged ‘cim group’

  • From left: 49 East 34th Street and Richard Ressler

    From left: 49 East 34th Street and CIM Group co-founder Richard Ressler

    The state’s attorney general’s office is closing a 36-story, illegal hotel owned by an affiliate of 432 Park co-developer CIM Group.

    The property at 49 East 34th Street was supposed to be a condominium, but its owners — who received millions in tax breaks for the creation of affordable units — turned it into a hotel instead, charging $239 per night for a studio and $359 per night for a two-bedroom unit, according to the New York Times. [more]

  • From left: Ben Shaoul and 140 West Street

    Ben Shaoul’s Magnum Real Estate and partner CIM Group secured a $390 million loan they will use to convert the Verizon building to 166 luxury residential units.

    New York-based iStar Financial and Stamford-based H/2 Capital provided the three-year, Libor-based loan, which will be used to convert the upper 22 floors of 140 West Street to condos. Verizon will continue to operate offices in the lower 10 floors of the building, which has been rebranded as 100 Barclay Street, the New York Observer reported. [more]

  • From left: the Trump Soho Hotel and Donald Trump

    From left: the Trump Soho Hotel and Donald Trump

    Owners of the Trump Soho are mulling ditching the property’s condominium component and operating it solely as a hotel.

    Los Angeles-based CIM Group took control of the building late last year after foreclosing on the original developers, Sapir Organization and Bayrock Group, according to Bloomberg. CIM will no longer market the condos that are still unsold, according to the website, and will turn those units into full-time hotel rooms. [more]

  • From left: Donald Trump and the Trump Soho

    From left: Donald Trump and the Trump Soho

    CIM Group, a real estate investor, has won a foreclosure auction that allows it to take control of New York’s Trump Soho hotel and condominium. [more]

  • The rise of 432 Park: INTERACTIVE

    October 28, 2014 10:00AM
    432 Park Avenue

    A rendering of 432 Park Avenue. (Credit: Streeteasy)

    A 17-year-old daredevil snapped photos from atop it. Its penthouse asked $95 million — and sold successfully. Developer Harry Macklowe even compared it to the Mona Lisa. There’s been no shortage of attention for 432 Park Avenue, the 1,396-foot building which recently became the tallest residential building in the Western Hemisphere. The Real Deal collected some of the top tweets, photos, videos and stories that have surfaced about the megatower in recent months. For more, click here.

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  • The view from the top of 432 Park: VIDEO

    October 14, 2014 05:50PM
    432 Park Avenue

    432 Park Avenue

    So you may never know what it feels like to live atop the tallest building in the Western Hemisphere, but a video is the second best thing, right? Click here for a better view from Harry Macklowe’s 432 Park, the 96-story megatower making headlines and breaking records.

  • Remaking 11 Madison

    September 18, 2014 10:30AM
    From left: Tamir Sapir, 11 Madison Park and Richard Ressler

    From left: Tamir Sapir, 11 Madison Park and Richard Ressler

    From the September issue: Once known as the Metropolitan Life North Building, 11 Madison Park has had its share of ups and downs over the years. [more]

  • Lender to put Trump Soho Hotel up for sale

    September 16, 2014 03:05PM
    From left: the Trump Soho Hotel and Donald Trump

    From left: the Trump Soho Hotel and Donald Trump

    The Trump Soho is reportedly being sold.

    CIM Group, one of the lenders to the upscale condominium-hotel, is foreclosing on the property and plans to auction it off, the Wall Street Journal reported. CIM Group holds a junior loan on the property and has taken control of the building through a foreclosure process. CIM Group hired commercial brokerage Eastdil Secured to market the property. [more]

  • From left: One Madison, Rockfeld's Steven Feldman and a rendering of the building

    From left: One Madison, Rockfeld’s Steven Feldman and a rendering of the building

    A family-run real estate firm is in contract to pay more than $20 million to purchase the 6,700-square-foot retail condo in the One Madison residential tower at the edge of Flatiron’s main shopping corridor, The Real Deal has learned. [more]

  • Jared Kushner and 2 Rector Street

    Jared Kushner and 2 Rector Street

    Barely a year after paying $140 million for a Lower Manhattan office tower at 2 Rector Street, Kushner Companies and CIM Group were recently entertaining offers for up to $200 million for the property, The Real Deal has learned. [more]

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  • 432-park-final

    432 Park Avenue and Harry Macklowe

    Macklowe Properties, along with an unidentified foreign equity partner, is buying the retail space at the super-luxury 432 Park Avenue condominium tower for approximately $450 million from CIM Group, several industry sources told The Real Deal.

    While Macklowe, led by chairman Harry Macklowe, is widely described as the co-developer with CIM Group of 432 Park, his ownership stake has always been unclear. [more]

  • From left: the Halcyon at 51st Street, Steven Spektor (HFZ Capital Group), James Davidson (SLCE Architects), Ziel Feldman (HFZ Capital Group), Enrique Jimenez (SLCE Architects), John Simonlacaj (HFZ Capital Group), Luigi Russo (SLCE Architects), MacKenzie Landers Thorn (HFZ Capital Group) and Feldman

    From left: 305 E. 51st Street, HFZ’s Steven Spektor, SLCE Architects’ James Davidson, HFZ’s Ziel Feldman, SLCE’s Enrique Jimenez, John Simonlacaj of HFZ, SLCE’s Luigi Russo, HFZ’s MacKenzie Landers Thorn and Feldman

    Halcyon, a residential tower under development at 305 East 51st Street, has reached its final height of 33 stories. [more]

  • 432 Park Avenue's 92nd-floor penthouse

    Click to enlarge. (DBOX for CIM Group & Macklowe Properties)

    The floor plan of the $79.5 million penthouse at Macklowe Properties and CIM Group’s 432 Park Avenue, which will take up the entire 92nd floor of the building, has been revealed.

    The six-bedroom unit is situated in a circular pattern, with a living room, dining room, master and second bedroom in each of the home’s four corners. A private service corridor and elevator landing are located in the center, with the kitchen, baths, powder rooms and additional bedrooms in a circle around the edges. [more]

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  • Elliman to add sales firepower to 432 Park

    February 12, 2014 03:10PM
    From left: Susan de Franca, a rendering of 432 Park Avenue (Credit: DBOX for CIM Group & Macklowe Properties) and Harry Macklowe

    From left: Susan de Franca, a rendering of 432 Park Avenue (Credit: DBOX for CIM Group & Macklowe Properties) and Harry Macklowe

    Macklowe Properties and CIM Group have officially brought Douglas Elliman Development Marketing on board to help with sales and marketing efforts at 432 Park Avenue. Elliman has been serving as a consultant on the luxury condominium project right from the outset, but will now be its co-exclusive sales agent, a spokesperson for 432 Park told The Real Deal exclusively. [more]

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  • 69365_macklowe_737.jpg

    Harry Macklowe and 737 Park Avenue

    Developer Harry Macklowe is dragging Arlene Katz, a tenant at 737 Park Avenue, into court to force her to allow contractors to upgrade her apartment. Katz is a member of the family that previously owned the luxury condo conversion building.

    The developer, in a suit filed Jan. 14 in Manhattan Supreme Court, claims that Katz, a tenant in a 19th-floor apartment, has refused to let the landlord replace windows and risers, despite a pledge to put her up at a hotel and protect her against a rent hike. [more]

  • lands-end

    CIM’s Shaul Kuba and 265-275 Cherry Street

    The CIM Group has acquired Lands End II, a Lower East Side subsidized apartment complex, from Pembroke Real Estate and Area Property Partners for $279 million.

    Area and Pembroke jointly bought the site at 265-275 Cherry Street in 2008 for $170.8 million. Earlier this month, Lands End II residents secured affordable rental rates for 40 years, as previously reported. [more]

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  • From left: Jared Kushner and 200 Lafayette Street

    From left: Jared Kushner and 200 Lafayette Street

    JCPenney’s office building at 200 Lafayette Street, owned by a joint venture between Jared Kushner and Los Angeles-based private equity firm CIM Group, will be purchased by real estate investment trust General Growth Properties for just over $150 million in cash. [more]

  • Sony moving to Sapir’s 11 Madison Ave.

    September 17, 2013 09:30AM
    From left: 11 Madison Avenue, Sony CEO Kaz Hirai and 550 Madison Avenue

    From left: 11 Madison Avenue, Sony CEO Kaz Hirai and 550 Madison Avenue

    Electronics giant Sony, fresh off the sale of its $1.1 billion headquarters at 550 Madison Avenue to the Chetrit Group, is moving to the Sapir Organization’s 11 Madison Avenue.

    Sony will take 500,000 square feet at the very top of the 2.3 million-square-foot, 30-story tower between East 24th Street and 25th Street that overlooks Madison Square Park, sources told the New York Post. While no lease has been inked, Sony does have a term sheet, the sources added. [more]

  • From left: Yitzchak Tessler and NMP Attorney John Stewart

    From left: Yitzchak Tessler and NMP Attorney John Stewart

    Yitzchak Tessler is joining forces with NMP Group to salvage 172 Madison Avenue from what, up until now, looked like foreclosure.

    Tessler has agreed to pay off debt and fees owed to CIM Group, then partner with NMP in a deal worth at least $55 million to develop the site. [more]

  • halcyon

    Halcyon at 205 East 51st Street

    Developers HFZ Capital Group and CIM Group are offering a peek inside the 32-story, 123-unit Midtown East condominium tower known as Halcyon. [more]


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