The Real Deal New York

Posts Tagged ‘cim group’

  • 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]

  • Jared Kushner and 200 Lafayette Street

    Jared Kushner and 200 Lafayette Street

    A joint venture between Kushner Companies and Los Angeles-based private equity firm CIM Group is set to put a Soho office and retail property at 200 Lafayette Street back on the market, 18 months after it purchased the property, The Real Deal has learned. [more]

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  • From left: Adam Spies, 5 Hanover Square, Doug Harmon

    From left: Adam Spies, 5 Hanover Square, Doug Harmon

    Savanna is selling the office building at 5 Hanover Square to CIM Group, a private equity firm based in Los Angeles, for around $105 million – twice the amount the real estate investment firm paid just three years ago, Crain’s reported. [more]

  • 432parkinterior2

    An interior rendering of 432 Park Avenue (courtesy: dbox)

    Not content to simply break the record for the tallest residential tower in New York City, the developers of 432 Park Avenue are seeking to further capitalize on the project’s height. Macklowe Properties and California-based CIM Group, which are jointly developing the luxury condominiums, want to slice the top-floor penthouse into two units atop the 1,396-foot-tall building, according to plans filed with the New York Attorney General’s office. [more]

  • Harry Macklowe, Elizabeth Murray and 737 Park Avenue

    Since Macklowe Properties and CIM Group purchased 737 Park Avenue from the Katz family two years ago, and began converting the rent-stabilized apartment building to condominiums, they have tangled with several tenants in court. But now, the developers claim that the seller’s apparent lack of disclosure is to blame for the litigation and the corresponding construction delays. [more]

  • From left: the injured construction worker, 432 Park Avenue last week (second image courtesy NY YIMBY) and Harry Macklowe

    Work has resumed at 432 Park Avenue, the site of Harry Macklowe and CIM Group’s planned condominium tower, despite a partial stop work order that remains in effect following Friday’s construction accident, the Department of Buildings confirmed today. [more]

  • From left: the injured construction worker, 432 Park Avenue last week (second image courtesy NY YIMBY)

    Falling debris injured a construction worker today at 432 Park Avenue, the site of the skyscraper under development by Macklowe Properties and CIM Group, The Real Deal has learned. [more]

  • 11 Madison Avenue

    The owners of 11 Madison Avenue have decided not to sell the Midtown South office building, and are concentrating on renewing major tenant Credit Suisse’s lease instead, Crain’s reported. The Sapir Organization and CIM Group had been looking to sell the 2.2-million-square-foot tower for $1.5 billion, which could have been one of the city’s largest office sales to date.

    Though Sapir and CIM had apparently generated lucrative offers for the property, between East 24th and East 25th streets, the owners said they would generate higher profits by renewing a lease with Credit Suisse, which occupies more than three-quarters of the building. The lease expires in 2017. [more]

  • 225 Fifth Avenue

    CIM Group has bought a large retail space at 225 Fifth Avenue for $80 million, Crain’s reported. The real estate investment firm bought the 40,000-square-foot space, located on the northwest corner of Madison Square Park between West 26th and West 27th streets, from Extell Development, which in recent years had converted the property into luxury condominiums. The space, which sold for $2,000 a square foot, is currently leased to a Chase bank and a 24 Hour Fitness Gym. Adam Spies and Doug Harmon of Eastdil Secured arranged the sale…. [more]

  • Live cams track progress at 432 Park

    December 07, 2012 11:00AM

    From left: Harry Macklowe, a 432 Park rendering and a video screenshot of this morning’s 432 Park feed

    Despite the veil of secrecy surrounding 432 Park Avenue — set to be the city’s tallest residential property — the building has three skycams peering over the construction site and giving viewers a peek at the progress. The stream is available at and shows feeds from cameras positioned on Park Avenue, 56th Street and 57th Street, as the New York Observer reported. [more]

  • Sapir CEO Alex Sapir (top), CBRE’s Darcy Stacom (bottom) and 11 Madison Park

    The 2.3 million-square-foot office tower at 11 Madison Park is set to hit the market seeking a sales price of $1.5 billion, the Wall Street Journal reported. CIM Group and the Sapir Organization have tapped a CBRE Group team led by the firm’s vice chairwoman, Darcy Stacom.

    Sapir bought the building in 2003 for $675 million; in 2010 CIM Group purchased a 49 percent stake in the property for $469 million. The building is about 80 percent occupied by Credit Suisse, which pays a below-market rental rate of $19 per square-foot. That lease expires in 2017. [more]

  • HFZ's Ziel Feldman and 303 East 51st Street

    Construction is once again an issue at the Turtle Bay site where a crane collapsed and killed seven people in 2008. According to the New York Post, Ziel Feldman’s HFZ Capital Group, which is developing the site in conjunction with CIM Group, is seeking a way to remove the balconies already built on the 18-story shell at 303 East 51st Street. [more]

  • From left: 440 Park Avenue and Harry Macklowe, head of Macklowe Properties

    The New York City Department of Buildings has issued a permit for the construction of a new, 84-story residential building, slated to be the city’s tallest, at the 432 Park Avenue site where CIM Group and Macklowe Properties plan to build condominiums, the DOB confirmed today. The permit, for a 1,400-foot-tall residential tower at the site of the former Drake Hotel, was issued earlier this month. [more]