Crown Acquisitions | The Real Deal New York

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Crown Acquisitions

767 Fifth Avenue
New York, NY
(212) 563-6400
Website
info@cacq.com
Crown Acquisitions
Crown Acquisitions
Crown Acquisitions is a major owner and developer of retail properties in New York City, focusing on large redevelopment project were it helps to add value and then it and its partners sell the asset. Its major projects in the city have included the acquisition and repositioning of the retail condo at 666 Fifth Avenue; the re-tenanting of Herald Center; the acquisition and repositioning of the retail condo at 717 Fifth Avenue; and the acquisition and re-tenanting of 600 Broadway in Soho. In spring 2013, too, Crown partnered with Vornado Realty, Oxford Properties and Highgate Holdings to buy the 600,000-square-foot Class A office tower at 650 Madison Avenue for $1.3 billion, the most ever paid to that point on a per-square-foot basis for a U.S. office building. Crown also controls 103 Prince Street, site of the downtown Manhattan Apple store. The firm has its roots in retail in the 1940s under Isaac Chera, but really began to expand in the 1980s under Stanley Chera, Isaac’s son. Crown is headquartered at the GM Building in Midtown. Today, the firm is led by Stanley's sons Haim, Ike and Richard Chera.
Macy's Herald Square thumb
01/12/16
Hedge fund Starboard Value is ramping up pressure on Macy’s, suggesting a scheme by which the firm could purportedly create $10 billion in shareholder value...
Isaac Chera Macy's thumb
01/11/16
Isaac Chera’s Crown Acquisitions made a major play in Flushing, signing a 99-year ground lease for a large retail building right in the heart of...
fulton feature
01/06/16
Haim Chera’s Crown Acquisitions snapped up two commercial buildings in Downtown Brooklyn for $30 million, according to property records filed with the city Wednesday. Tags:...
BK-retail-FB
12/30/15
The Brooklyn retail market had a relatively quiet 2015 when it comes to king-sized leases. Compared to 2014 — when Century 21 and Bed Bath & Beyond...
600 Broadway Verrone ft
12/29/15
Bobby Cayre’s Aurora Capital Associates, Alex Adjmi’s A&H Acquisitions and the Chera family’s Crown Acquisitions are refinancing a six-story Soho retail building with a $120...
St. Regis Retail
12/22/15
Vornado Realty Trust and Crown Acquisitions closed on $450 million in financing for their retail condominium at the St. Regis Hotel and an adjacent retail...
Chera Tayar 650 Madison thumb
10/09/15
Keller Williams and broker Richard Tayar are suing Haim Chera’s Crown Acquisitions and French-Italian high-fashion outlet Moncler, claiming the agent was cut out of a...
Adriana Lima
10/07/15
Vornado Realty Trust signed Victoria’s Secret to a nearly 64,000-square-foot retail lease at 640 Fifth Avenue in Midtown, which will house the lingerie giant’s flagship...
2007 86th Street and Haim Chera
09/29/15
From left: Haim Chera of Crown Acquisitions, 2007 86th Street and 19 Stanton Street From Crown Acquisition’s $20 million sale in Bensonhurst to Fortis Property...
511 Fifth ft
09/09/15
Retail giant Jeff Sutton teamed with Bobby Cayre’s Aurora Capital to seal a 99-year triple net lease at 511 Fifth Avenue in Midtown. The 17-story,...
720 Lexington ft
08/27/15
Steve Madden’s beef with landlord Bobby Cayre and partners continues after the shoe retailer filed a lawsuit this week claiming its flagship Midtown location, at...
barclay's center green roof feat
08/10/15
The Barclays Center at Atlantic Terminal in Downtown Brooklyn Donald Trump says he wants to put H&R Block out of business. Crown Acquisitions buys Fulton...
jim colemanFB
07/09/15
In the niche of the commercial real estate world that focuses on representing tenants and end users, the recent wave of consolidations at large brokerages...
Old Navy building ft
06/17/15
Vornado Realty Trust received a $205 million acquisition loan from Morgan Stanley to help finance its purchase of the Old Navy building in Herald Square....
crate & barrel-
06/08/15
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. Tags: 650...
RothOldNavyFbox
06/02/15
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...
StanleyandHaimCherafbox
05/27/15
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...
Ariel-Schuster-and-Olivia-Sara-FB
05/21/15
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...
Steve Roth
05/05/15
Upgrades to existing office inventory is the “defining part” of Vornado Realty Trust’s plans for the Penn Plaza district around Penn Station, chair and CEO...
Stanley Chera
05/04/15
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....
Macklowe
04/27/15
Harry Macklowe’s Macklowe Properties holds a stake in the retail space directly adjacent to the 432 Park Avenue site on East 57th Street, a permit...
nick-hayeck-thumb
04/15/15
The Swatch Group is looking to open up an upscale shop on Fifth Avenue. Tags: crown acquisitions, Fifth Avenue Retail, st. regis, vornado realty trust...
steven-roth-thumb
03/11/15
The most undervalued part of Vornado Realty Trust’s portfolio is the firm’s urban retail, according to Vornado chairman and founder Steven Roth. “This is just...
TopRetailBuyers2014fbox
12/19/14
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....
170-bway
12/17/14
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...
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Crown Acquisitions, Prinicipal
767 5th Avenue, New York City, NY, (212) 563-6400
Richard Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, COO
767 5th Avenue, New York City, NY, (212) 563-6400
Brittany Bragg is the chief operating officer of Crown Acquisitions. she was hired...
Crown Acquisitions, Principal
767 5th Avenue, New York City, NY, (212) 563-6400
Isaac Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, Principal
767 5th Avenue, New York City, NY, (212) 563-6400
Haim Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, Founder
767 5th Avenue, New York City, NY, (212) 563-6400
Stanley Chera s a New York real estate developer and founder of Crown...
  • Event Retail Leasing
  • Address 1515 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 2,113
notes
The watch company signed a lease.
  • Event Sales
  • Address 150 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 78,000
  • Price $ 355,000,000
notes
The Old Navy building sold for $355 million. Additional information: 3 stories, 78,000 sf
  • Event Retail leasing
  • Address 490 Fulton Street
  • Neighborhood Fulton/Seaport
  • Borough Brooklyn
  • Square feet 40,000
  • Publication Date 06/01/2015
  • Event Date 04/22/2015
  • Party 1 Crown Acquisitions
  • Party 2 Forever 21
notes
The fashion chain signed a lease.
  • Event Retail leasing
  • Address 458 Fulton Street
  • Neighborhood Fulton/Seaport
  • Borough Brooklyn
  • Square feet 3,500
notes
The footwear chain signed a new 10-year lease for 3,500 SF on grade.
  • Event Sales
  • Address 25 West 39th Street
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 208,000
  • Price $ 53,500,000
  • Publication Date 12/01/2005
  • Event Date 10/22/2005
  • Party 1 Tommy Hilfiger U.S.A., Inc.
  • Party 1 Brokerage CBRE
  • Party 1 Broker Bruce Surry
  • Party 2 Crown Acquisitions LLC
  • Party 2 Brokerage CBRE
  • Party 2 Broker Stuart Siegel, Rand Pear
notes
The $53.5 millionsale was expected to close near the end of November, but Tommy Hilfiger has the option of continuing to occupy the site until June 30, 2006.
  • Event Sales
  • Building Name 103-107 Prince Street
  • Address 103 Prince Street
  • Neighborhood Soho
  • Borough Manhattan
  • Price $ 70,850,000
notes
The site of the city's first Apple store sold for $70.85 million, the New York Post reported.
  • Event Sales
  • Address 103 Prince Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 30,000
  • Price $ 75,000,000
notes
The 30,000 sf building sold for about $75 million, the New York Post reported. The property is the site of the city's first Apple store.
  • Event Sales
  • Address 490 Fulton Street
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Square feet 250,000
  • Price $ 60,000,000
notes
The former department store sold for $60 million.
  • Event Sales
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 90,000
  • Price $ 525,000,000
notes
A 49 percent stake in the building's retail space sold for $525 million. Kushner will continue to own 100 percent of the office portion of the tower, which was acquired last year for a record $1.8 billion.
  • Event Sales
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 500,000
  • Price $ 390,000,000
  • Price per foot $ 780.00
notes
The property sold for $390 million, or $780 per square foot, the Wall Street Journal reported. Jamestown Properties and Rockwood Capital, which are providing equity for the purchase, will be the controlling equity holders in the property. The selling group originally acquired the building for $210 million in 2004. The building has 21,790 square feet of retail space on Fifth Avenue, currently occupied by LensCrafters, Chase bank and Fossil. The building also has several big-name office tenants, including JPMorgan Chase and MassMutual.
  • Event Sales
  • Building Name Saint Regis New York
  • Address 2 East 55th Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 24,700
  • Price $ 117,000,000
notes
The retail portion of the hotel sold for $117 million. The price represents a capitalization rate of 5 percent on anticipated net operating income in 2009.
  • Event Sales
  • Address 2 East 55th Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 24,800
  • Price $ 380,000,000
  • Price per foot $ 15,100.00
notes
The retail condo inside the St. Regis New York hotel sold for $380 million, or $15,100 per square foot, Real Estate Alert reported. Richemont owns luxury brands Cartier, Van Cleef & Arpels, Piaget and Montblanc, among others.
  • Event Sales
  • Address 1466 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 300,000
  • Price $ 180,500,000
notes
The former Knickerbocker Hotel and an adjacent lot sold for $180.5 million. The new owners plan to use the building as a hotel.
  • Event Retail Leasing
  • Address 3791 Broadway
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 21,000
notes
The fitness chain signed a 15-year lease for space on the ground and second floors.
  • Event Retail Leasing
  • Address 2159 Broadway
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 1,400
  • Publication Date 11/01/2012
  • Event Date 09/22/2012
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Steven Soutendjik
  • Party 2 L'Occitane
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Chris DeCrosta
notes
The health and beauty products retailer signed a lease.
  • Event Retail Leasing
  • Address 370 Canal Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 15,700
notes
The fitness chain signed a lease for a new location.
  • Event Retail Leasing
  • Address 2 Times Square
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 1,000
  • Publication Date 05/01/2010
  • Event Date 03/22/2010
  • Party 1 Sherwood Equities
  • Party 1 Brokerage In-house
  • Party 2 Lids
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker H. Chera, Stephanie Snyder
notes
The baseball cap retail chain signed a lease for a new location, its sixth in Manhattan.
  • Event Retail Leasing
  • Address 1501 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 1,340
notes
The baseball cap retail chain signed a lease for a new location. The store is slated to open this summer.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 2,000
notes
The Swiss watch retailer signed a 15-year lease for the last remaining retail space at the building.
  • Event Retail Leasing
  • Address 5 East 57th Street
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,500
  • Publication Date 07/01/2010
  • Event Date 05/22/2010
  • Party 1 Duell Management
  • Party 2 Breitling
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Stephanie Snyder
notes
The Swiss watchmaker signed a lease for its first U.S. location.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 89,000
notes
The Japanese fashion retailer signed a 15-year lease for $300 million, reportedly a record for retail space in the city. The reported asking rent was $30 million per year; the tenant will pay roughly $20 million per year. Uniqlo also has a location in Soho.
  • Event Retail Leasing
  • Address 668 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 15,500
  • Publication Date 12/01/2009
  • Event Date 10/22/2009
  • Party 1 Carlyle Group, Crown Acquisitions
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Brad Mendelson, Alan Schmerzler, David Green
  • Party 2 Abercrombie & Fitch
  • Party 2 Brokerage PBS Realty Advisors
  • Party 2 Broker Laura Pomerantz
notes
The teen fashion company signed a 15-year lease to open its second Manhattan Hollister store. The first location is in Soho.
  • Event Retail Leasing
  • Address 666 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 5,400
notes
The apparel retailer expanded its ground-floor space from 4,400 square feet to 5,400 square feet, moving into the adjacent space being vacated by Hickey Freeman.
  • Event Retail Leasing
  • Address 121 Madison Avenue
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 2,175
  • Publication Date 09/01/2010
  • Event Date 07/23/2010
  • Party 1 Stanford Realty Associates
  • Party 1 Brokerage Crown Acquisitions
  • Party 1 Broker Jordan Barker
  • Party 2 Hair salon
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Jordan Barker
notes
The hair salon signed a 10-year lease. The reported asking rent was $90 per square foot.
  • Event Retail Leasing
  • Address 2075 Broadway
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 17,050
notes
The drugstore signed a lease for another location.
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