The Real Deal New York

Posts Tagged ‘crown acquisitions’

  • 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]

  • 587 Fifth Avenue at center

    A partnership including retail-savvy Crown Acquisitions claims in a new lawsuit that its attempt to buy control of a modest commercial building on a dynamic stretch of Fifth Avenue stalled after the owner backed out of the deal in January.

    Midtown-based Crown, headed by Stanley Chera, and a company including investor Steven Feldman of One North Realty, are seeking to buy the ground lease that controls 587 Fifth Avenue, a 10-story office and retail building with 30 feet of mid-block frontage between 47th and 48th streets, according to a suit filed in New York State Supreme Court yesterday. [more]

  • Adam Spies and 1466 Broadway

    Invesco has purchased the vast majority stake in the retail condominium at 1466 Broadway for $195.8 million, city records show. Crown Acquisitions and Highgate Holdings will continue to hold minority stakes of the Times Square property, with Crown continuing to operate a part of the retail space, The Real Deal has learned. As Crain’s reported last week, Walton Street Capital sold its majority stake to Invesco for upwards of $100 million. Crown Acquisitions was part of an investment group that purchased the property, and then sold the upper portion of the building to Highgate Holdings…. [more]

  • From left: Ralph Tawil, 120 Prince Street and and 103 Prince Street

    The Chera family’s Crown Acquisitions has partnered with Centurion Realty and Imperium Capital to purchase a mixed-use building at 120 Prince Street for $20 million, Ralph Tawil, president of Centurion, told The Real Deal. The same three Midtown firms joined forces in November 2011 to pay $70.85 million for the Apple store building at 103 Prince Street, at Greene Street, in a deal that also included a property in Queens. [more]

  • From left: Haim Chera and 1466 Broadway

    Walton Street Capital sold to Invesco its majority stake in the 50,000-square-foot retail condominium at 1466 Broadway in Times Square for upwards of $100 million, Crain’s reported. As a result of the deal, Invesco will now be among the three owners of the space, which is valued at $200 million. Crown Acquisitions and Highgate Holdings are the space’s other stakeholders. Adam Spies and Doug Harmon helped arrange the deal. [more]

  • Daniel Mawicke, President and CEO of Richemont, and the St. Regis Hotel

    The deal for a prime retail condominium inside the St. Regis New York hotel has closed for a massive $380 million, according to public records — $5 million more than had been initially reported.

    Swiss luxury-goods company Richemont North America, which deals in jewelry, premium watches and accessories, bought the 24,800-square-foot condo from a partnership led by Crown Acquisitions, Goldman Properties and the Feil Organization in a deal that closed October 11, records show. [more]

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  • Tallying who won at 666 Fifth Avenue

    August 08, 2012 11:00AM

    From the August issue: When Kushner Companies paid a record $1.8 billion for the aluminum-clad office building 666 Fifth Avenue in 2007, located between 52nd and 53rd streets, the market was still booming.

    But less than two years later, Lehman Brothers had collapsed, and that 10-digit price tag seemed to be an outrageous reminder of a bygone era. Yet company CEO Jared Kushner continued to believe that the retail portion alone could be worth $1 billion. [more]

  • alternate<br /></a>text
    From left: Michael Fascitelli, CEO of Vornado Realty Trust, and Sherri White, senior vice president at Vornado, at the Marquee Nightclub at the Cosmopolitan of Las Vegas hotel

    It’s become a cliche to say much of the deal making at the annual International Council of Shopping Centers’ retail bash RECon in Las Vegas takes place at the parties surrounding the convention, even if it’s true. To get a closer look, The Real Deal visited a handful of those gabfests. Click here to see the photos and more.

  • Stanley Chera (top), Aristotle Onassis and the Olympic Tower

    The Cheras’ Crown Acquisitions has acquired a 49.9 percent stake in a four-building Fifth Avenue portfolio that includes the Olympic Tower, the Wall Street Journal reported, although it could not confirm the terms of the deal. The transaction is expected to have valued the 51-story Olympic Tower, at 641 Fifth Avenue near 51st Street, a building at 10 East 52nd Street and two mansions north of the tower at $1 billion.

    Crown purchased the stake from an affiliate of the Alexander S. Onassis Public Benefit Foundation. The foundation was created in his son’s honor by Aristotle Onassis, whose Victory Development first erected the tower in 1975. [more]

  • Crown's Haim Chera and a rendering of the retail space at 530 Fifth Avenue

    The new owners of 530 Fifth Avenue are looking to bring prime Fifth Avenue rental rates to the traditionally overlooked stretch of the avenue below 49th Street. According to the Wall Street Journal, the partnership of Jamestown Properties, Rockwood Capital, Crown Acquisition and Murray Hill Properties that bought the property from Joseph Moinian and the Chetrit Group last September for a total of $420 million has a plan to charge $1,500 per square foot for the nearly 50,000-square-foot retail space. [more]

  • From left: Chase Wells, executive vice president at Northwest Atlantic, Steven Gillman, a partner at Northwest Atlantic, David Firestein, former president of Northwest Atlantic, and Jacqueline Klinger, also a partner

    Westchester tenant-advisory firm Northwest Atlantic Real Estate Services, best-known as the Manhattan representative for Starbucks Coffee and Whole Foods, merged with the Atlanta-based retail brokerage Shopping Center Group, company officials told The Real Deal.

    Northwest Atlantic, a 10-broker company The Real Deal ranked as the ninth most active retail brokerage in Manhattan by square feet leased, joins a firm with about 120 licensed professionals in 15 states. [more]

  • Knickerbocker hotel

    When the owners of the former Knickerbocker Hotel divided the structure into two floors of retail condominiums and 14 stories of hotel rooms, they had larger plans in mind. According to the Wall Street Journal the sold the remaining building for $109 million to Texas-based FelCor Lodging Trust, which plans to continue the property’s conversion from Class B office space to a 330-room luxury hotel. [more]