The Real Deal New York

Posts Tagged ‘sapir organization’

  • Donald Trump and the Trump Soho at 246 Spring Street

    Donald Trump and the Trump Soho at 246 Spring Street

    Donald Trump may have been more involved in the 2008 death of a construction worker at the Sapir Organization’s Trump Soho hotel than he originally let on. [more]

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  • The site of the collapsed crane at 261 Madison Avenue

    The site of the collapsed crane at 261 Madison Avenue

    A crane at the corner of East 38th Street and Madison Avenue collapsed Sunday, dropping its load some 30 stories and leaving at least 10 people with injuries. [more]

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  • 11 Madison Avenue

    From left: Marc Holliday, 11 Madison Avenue in the Flatiron District and Alex Sapir

    SL Green Realty is set to acquire the Sapir Organization and CIM Group’s 11 Madison Avenue office tower for $2.6 billion in one of the largest real estate deals in the city’s history. [more]

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  • Sapir 11 Madison

    Alex Sapir and 11 Madison Avenue

    The Sapir Organization and CIM Group have placed their Art Deco office tower at 11 Madison Avenue on the market.

    The two entities own the 29-story, 2.2 million-square-foot building, located next to Madison Square Park, through a partnership. They previously put the property up for sale in 2012, eventually pulling it off the market when they could not get the $1.5 billion asking price. [more]

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  • From left: Jason Kalisman, the Mondrian Soho at 9 Crosby Street and Alex Sapir

    From left: Jason Kalisman, the Mondrian Soho at 9 Crosby Street and Alex Sapir

    The Mondrian Soho will officially transition to its new brand — NoMo SoHo — after a judge ruled today that Alex Sapir and Rotem Rosen’s ASRR Capital can push the former management company out. [more]

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  • Jason Kalisman Soho Alex Sapir

    From left: Jason Kalisman, the rooftop bar at the Mondrian SoHo and Alex Sapir

    While the guests at the Mondrian Soho hotel were sleeping, a coup of sorts went on on the ground floor. [more]

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  • 260 Madison

    260 Madison Avenue (inset: Marcus & Millichap’s J.D. Parker and Alex Sapir)

    Investment sales brokerage Marcus & Millichap inked a 10-year deal for its new headquarters in New York City, at the Sapir Organization’s 260 Madison Avenue, The Real Deal has learned. [more]

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  • From left: Alex Sapir and 110 Church Street in Manhattan

    From left: Alex Sapir and 110 Church Street in Manhattan

    The Sapir Organization is buying back the ground leases at 110 Church Street and 53 Park Place in Tribeca for $231 million from the World-Wide Group. [more]

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  • From left: Morgans interim CEO Jason Kalisman, the Mondrian SoHo and Alex Sapir

    From left: Morgans interim CEO Jason Kalisman, the Mondrian Soho at 9 Crosby Street and Alex Sapir

    The operator of the Mondrian Soho has filed a lawsuit to keep the trendy hotel in its portfolio following the hotel’s foreclosure and subsequent sale. [more]

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  • Sapir Organization’s Tamir Sapir dies

    September 29, 2014 08:00AM
    Tamir Sapir

    Tamir Sapir

    Tamir Sapir, a Soviet émigré who made his fortune bartering fertilizer and oil in the 1980s and invested in New York City commercial real estate during the recession of the early 1990s — founder of the Sapir Organization — died Friday.

    A funeral service for Sapir, who had been in ill health for several years, was held Sunday at Riverside Memorial Chapel. His son Alex Sapir, appointed president and chairman of the family firm in 2006, has long been its public face. [more]

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  • Mondrian Soho sells for $205M

    June 23, 2014 10:30AM
    From left: Alex Sapir and 9 Crosby Street

    From left: Alex Sapir and 9 Crosby Street

    The Sapir Organization’s Rotem Rosen and Alex Sapir, in partnership with Buddha Bar founder and owner Gerard Guez, purchased the Mondrian Soho hotel for $205 million. [more]

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  • Yelp CEO Jeremy Stoppelman (Credit: Business Insider) and 11 Madison Avenue (Credit: CoStar Group)

    Yelp CEO Jeremy Stoppelman (Credit: Business Insider) and 11 Madison Avenue (Credit: CoStar Group)

    Yelp, the online review website used by millions of New Yorkers and tourists to navigate the Big Apple, is finalizing a 140,000-square-foot office in the city, The Real Deal has learned. The company is in advanced discussions with the Sapir Organization and CIM Group to take the entire 14th and 16th floors of the 30-story tower at 11 Madison Avenue, located between 24th and 25th streets. [more]

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  • 11 Madison Avenue

    11 Madison Avenue

    Credit Suisse has renewed its mammoth lease at the Sapir Organization’s 11 Madison Avenue. The bank will, however, downsize from its current 1.96 million square feet to about 1.2 million square feet, paving the way for Sony to take about 520,000 square feet on the upper floors of the building.

    In a deal worth about $1.8 billion, Credit Suisse signed a 20-year deal for the space, which had asking rents of $70 per square foot. [more]

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  • From left: Donald Trump and Moscow's

    From left: Donald Trump and Moscow’s St. Basil’s Cathedral

    A replica of Bayrock/Sapir’s Trump Soho hotel may be Moscow’s first big new hotel in ten years. [more]

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  • 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]

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  • trump-soho-audits

    From left: Andrew Berman, Scott Stringer, Trump Soho and Jim Petrus

    The developers of the Trump Soho are being accused by the city of failing to file annual audits that they agreed to as a condition for building on land not zoned residential. [more]

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  • From left: Alex Sapir, 261 Madison Avenue and Bruce Mosler

    From left: Alex Sapir, 261 Madison Avenue and Bruce Mosler

    Signature Bank has signed a renewal and expansion deal at 261 Madison Avenue, increasing its presence at the Sapir Organization-owned building to 28,000 square feet, Real Estate Weekly reported. [more]

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  • 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]

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  • 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]

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  • From left: Steven Durels and 100 Church Street

    Once the butt of jokes, 100 Church Street is now completely stabilized under the stewardship of SL Green Realty, according to the New York Post. SL Green just landed an early, 20-year renewal from the city’s Law Department for 372,520 square feet at the 1 million-square-foot-plus building, between Park Place and Barclays Street. In addition to bringing the tower to 82-percent-occupied, SL Green also refinanced the building with a 10-year, $230 million fixed-rate loan. [more]

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