The Real Deal New York

Posts Tagged ‘crown acquisitions’

  • Clockwise from top left: Doug Harmon, Adam Spies, Marc Holliday, Barry Sternlicht, Steven Roth, Harry Macklowe and Stanley Chera

    Clockwise from top left: Doug Harmon, Adam Spies, Marc Holliday, Barry Sternlicht, Steven Roth, Harry Macklowe and Stanley Chera

    The ever-increasing throngs of brand-hungry shoppers traipsing through Manhattan has resulted in record retail deals this year. And it’s the usual suspects who are pouncing on the opportunity. [more]

  • 170-bway

    Stanley Chera and 170 Broadway in Lower Manhattan

    The Premier Group acquired a Marriott Residence Inn at 170 Broadway in Lower Manhattan from the Carlyle Group, Crown Acquisitions and Highgate Hotels for $150 million.

    The 18-story property near Maiden Lane was recently converted into a 228-room hotel from an office building. The hotel is slated to open in January. The Bahrain-based buyer also owns the Four Seasons Hotel that is now under construction at 30 Park Place. [more]

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  • Crown inks lease to operate 453 Broome

    November 05, 2014 10:06AM
    453 Broome Street and Haim Chera

    453 Broome Street and Haim Chera

    Crown Acquisitions signed a 49-year lease to operate the landmarked 453 Broome Street and paved the way for French fashion brand Zadig & Voltaire to move into the vacant ground floor retail space. [more]

  • The Dior store on 57th Street

    The Dior store on 57th Street

    Retail rents along 57th Street surged over the last six months as millionaires and billionaires closed on pricey condominium units at 432 Park Avenue and developers moved forward with other pricey towers. In addition, space on Broadway near the World Trade Center rose sharply, information from a new report from the trade group the Real Estate Board of New York shows. [more]

  • Chera-452-11-Lundgren

    From left: Stanley Chera, 452 Fulton Street, 11 Hoyt Street, Terry Lundgren (Headshot photo by Shutterstock)

    “All that volume of space and property in the Borough of Brooklyn, County of Kings, City and State of New York, which lies between the horizontal planes, the elevations of which are 24.96 feet and 43.87 feet…”

    So begins the description of an unusual, quietly-held and — insiders say — extremely valuable stake the Chera family’s Crown Acquisitions owns in the Macy’s garage at 11 Hoyt Street, between Fulton and Livingston streets. The parking facility sits across Hoyt from the Macy’s flagship Brooklyn department store at 422 Fulton Street. [more]

  • Chera-651-697-Roth

    From left: Stanley Chera, 651 Fifth Avenue, St. Regis at 2 East 55th Street, 697 Fifth Avenue and Steven Roth

    When Vornado Realty Trust and Crown Acquisitions, two of New York’s savviest retail investors, announced that they would pay a record price per square foot for a condominium along Fifth Avenue, it sounded like the epitome of the store-space wildcatting driven by deal-hungry buyers quickly becoming part of the industry’s narrative. [more]

  • St. Regis retail space and Stanley Chera

    St. Regis retail space and Stanley Chera

    Vornado Realty Trust and partner Crown Acquisitions put up $700 million to purchase the retail condo at the St. Regis Hotel in the heart of the city’s most coveted retail corridor. [more]

  • From left: Joe Sitt, 530 Fifth Avenue and Scott Rechler

    From left: Joe Sitt, 530 Fifth Avenue and Scott Rechler

    UPDATED, 5:45 a.m., June 20: Thor Equities just added some prime Fifth Avenue retail and office space to its portfolio. [more]

  • chera-450

    Stanley Chera and 450 Park Avenue (Photo credit: Honest Buildings)

    UPDATED, 1:14 p.m., May 21The Chera family’s Crown Acquisitions, along with the large Canadian investment firm Oxford Properties Group, are just days from closing the acquisition of the 33-story skyscraper located at 450 Park Avenue designed by Emery Roth & Sons.

    The purchase price, $545 million, puts almost half the value of the tower in the retail base, insiders told The Real Deal. [more]

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  • From left: Crown Acquisitions' Isaac Chera and a Planet Fitness

    From left: Crown Acquisitions’ Isaac Chera and a Planet Fitness

    Crown Acquisitions, the retail-focused firm that was a minority partner in the $250 million purchase of the Old Navy in Herald Square, is now setting its sights on the outer boroughs. [more]

  • old-navy

    From left: Stanley Chera, 144-150 West 34th Street and Barry Sternlicht

    Crown Acquisition Group and Starwood Capital Group officially closed on the purchase of a retail property at 150 West 34th Street for $255 million.

    Air rights would allow for the site, between Broadway and Seventh Avenue, to be redeveloped into a 300,000-square-foot hotel and retail tower, as The Real Deal previously reported. The buyers entered contract for the four-story, 80,000-square-foot property last month. The deal closed last week for roughly $850 per buildable square foot, the New York Post reported. [more]

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  • 170-broadway

    From left: Haim Chera and 170 Broadway

    The Gap has signed a lease for the base of the forthcoming Marriott Residence Inn at 170 Broadway in Lower Manhattan.

    The space includes 5,400 square feet on the lower level, 6,500 square feet on the ground floor and 7,000 square feet on the second floor. [more]

  • orva-terzi

    From left: 714 Lexington Avenue, Orva logo and Jack Terzi

    UPDATED, 4:08 p.m., Mar. 12: Footwear retailer Orva Shoes inked a 13-year lease for a full building in Midtown East.

    The 6,000-square-foot property at 714 Lexington Avenue, between East 57th and East 58th streets and near Bloomingdale’s, formerly housed British beauty chain the Body Shop. Asking rent was $1 million per year when the Body Shop leased space there. Crown Acquisitions, Aurora Capital and Alex Adjmi own the four-story building. JTRE’s Jack Terzi represented Orva Shoes in the deal, while the landlords were represented in-house. [more]

  • 587 Fifth Avenue at center

    587 Fifth Avenue (center)

    The ongoing legal battle for 587 Fifth Avenue is heating up again.

    Investors Asher Zamir and Elyass (Elliott) Eshaghian filed a new round of lawsuits against each other to determine who has control over decisions that affect the property. This follows the botched 2011 sale of 587 Fifth to an investment group led by Crown Acquisitions. [more]

  • Haim Chera of Crown Acquisitions and 170 Broadway

    Haim Chera of Crown Acquisitions and 170 Broadway

    Crown Acquisition, the Carlyle Group, Tribeca Associates and Highgate Holdings are in contract to sell a 20,000-square-foot retail condominium near the World Trade Center for close to $70 million, The Real Deal has learned. [more]

  • centurion-5-7-mercer-street

    5-7 Mercer Street and Ralph Tawil

    Centurion Realty has been buying up Soho properties in recent months, but this time around the Flushing, Queens-based firm is trimming its holdings in the coveted neighborhood. Led by Ralph Tawil, Centurion Realty sold a five-story, mixed-use building at 5-7 Mercer Street for $16.5 million, more than double the purchase price in 2007, according to property records filed today.

    Tawil bought the 21,000-square-foot walk-up property near Howard Street for $7 million. The site is fully leased, with nine rental units and a retail space housing the first New York City store of Irish fashion designer Orla Kiely.  [more]

  • From left: Haim Chera and 720 Lexington Avenue

    From left: Haim Chera and 720 Lexington Avenue

    A New York State judge has stalled landlord Crown Acquisitions’ move to evict Steve Madden from its flagship location at 720 Lexington Avenue, handing a victory to the shoe retailer in a spat over hundreds of thousands of dollars in back rent. [more]

  • 587 Fifth Avenue at center

    587 Fifth Avenue at center

    A New York state judge is scheduled to hear arguments from an investor in 587 Fifth Avenue — a 10-story office and retail building on a prime stretch of the shopping strip — who is trying to block developer Asher Zamir from selling the property’s leasehold to Crown Acquisitions.

    Elyass “Elliott” Eshaghian, president of Manhattan-based Evvan Importers, filed a derivative suit June 12 in New York State Supreme Court on behalf of investors in the property, alleging that Zamir made decisions about its future without his permission. [more]

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    From left: 650 Madison Avenue and Joe Sitt

    Does the $1.3 billion sale of 650 Madison Avenue, which entered contract last week, herald a commercial real estate bubble? Not quite, Thor Equities CEO Joseph Sitt told Bloomberg News. Its buyers, Crown Acquisitions and Highgate Holdings, see value in the property’s retail component, he said. See the video and more after the jump.

  • From left: Stanley Chera, 490 Fulton Street and the interior of a student unit

    Harrison Street Real Estate Capital, a Chicago-based real estate investment management firm, has bought dozens of Long Island University Brooklyn graduate apartments for $62.7 million, according to records filed with the city today. [more]


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