The Real Deal New York

Posts Tagged ‘crown acquisitions’

  • 650 Madison Avenue on the Upper East Side

    650 Madison Avenue on the Upper East Side

    Crate & Barrel is closing its flagship, 62,000-square-foot location at 650 Madison Avenue, about five years before its lease was set to expire. [more]

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  • From left: Doug Harmon, Adam Spies, the Old Navy building at and Steve Roth

    From left: Doug Harmon, Adam Spies, the Old Navy building at 144-150 West 34th Street and Steve Roth

    Vornado Realty Trust just closed on the $355 million acquisition of the Old Navy building in Herald Square, The Real Deal has learned, just over a year after a partnership between Starwood Capital Group and Crown Acquisitions bought it for $252 million. [more]

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  • 641 Fifth Avenue in Midtown (inset: Haim Chera of Crown Acquisitions)

    641 Fifth Avenue in Midtown (inset: Haim Chera of Crown Acquisitions)

    The Chera family’s Crown Acquisitions and Oxford Properties Group now own the entire office and retail base of the Olympic Tower, after paying $652 million for the remaining 50 percent that was owned by Onassis Foundation-related entities. [more]

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  • icsc

    Clockwise from top left: Ariel Schuster, Robert Bonicoro, Gary Trock, Belinda Schwartz, Mitchell Rechler, Amira Yunis

    More than 36,000 dealmakers flocked to the International Council of Shopping Centers’ annual global retail trade convention RECon Las Vegas this week, marking the highest attendance figures seen since 2008.

    Attendance at ICSC hit a high in 2007, with more than 50,000 people showing up. The low was 2010, when less than 29,000 people made the trek, according to figures from the organizers. Click here for a story, slideshow and more.

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  • From left: Tess Jacoby of RKF, Haim Chera of Crown Acquisitions, Joshua Strauss of RKF and Stanley Chera of Crown Acquisitions at the Las Vegas Convention Center on Monday

    From left: Tess Jacoby of RKF, Haim Chera of Crown Acquisitions, Joshua Strauss of RKF and Stanley Chera of Crown Acquisitions at the Las Vegas Convention Center

    About 2,000 New York’s real estate professionals hit Las Vegas for the International Council of Shopping Centers’ 2015 RECon, held at the Las Vegas Convention Center. Photos and more from these parties after the jump.

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  • Stanley Chera

    Stanley Chera and 490 Fulton Street in Downtown Brooklyn

    Forever 21 has signed a 40,000-square-foot lease at 490 Fulton Street in Downtown Brooklyn, with the retailer returning to the neighborhood it left in 2007.

    The clothing store will open its F21 Red store concept at the five-story building by the end of the year. Other tenants at the property, controlled by the Chera family’s Crown Acquisitions, include Planet Fitness, Express and Raymour & Flanigan Furniture. [more]

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  • From left: Swatch Group CEO Nick Hayeck and the St. Regis retail condominium at 2 East 55th Street

    From left: Swatch Group CEO Nick Hayeck and the St. Regis retail condominium at 2 East 55th Street

    The Swatch Group is looking to open up an upscale shop on Fifth Avenue. [more]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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