Praedium Group | The Real Deal New York

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Praedium Group

825 Third Avenue
New York, NY 10022
(212) 224-5600
Website
chughes@praediumgroup.com
Praedium Group
Praedium Group is a real estate investment trust focused on the middle market, targeting underperforming properties for less than $75 million. Its primary geographic focus has been the Midwest and Pacific Northwest, but it also has invested extensively in Manhattan. Formed in 1991, the firm has completed more than $10 billion in transactions and has sponsored more than eight private equity funds. In 2001 Montreal-based Caisse de depot et placement du Quebec invested $100 million in Praedium, and the two institutions have had a long-term partnership ever since. Praedium has a particularly active year in 2015, as it competed more than $2.5 billion in transactions during the first eight months of that year (most of which was from liquidation). Those transactions included 40 apartment properties and more than 600,000 square feet of office and retail space. For many of its deals Praedium prefers to partner with local firms, such as with Pinnacle Group, which it has joined with on many Manhattan transactions (the two joined on a buying spree that bolstered Pinnacle’s profile between 2004 and 2006).
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VictorSiguoraDrewPopkinFbox
06/08/16
Victor Siguora and Drew Popkin, the Naftali Group’s top acquisition executives, have left the company to form their own development firm. The new venture, called...

142-20 Franklin Larry Horn William Kohane thumb
02/04/16
Joel Wiener’s Pinnacle Group bought another rent-regulated property in the outer boroughs, picking up a 145-unit East Flushing multifamily building. Tags: pinnacle group ...

37 Greene Street and Uzi Ben Abraham of Premier Equities
06/30/15
...and Front streets was converted from condominiums when the seller, Praedium Group, acquired the property for $14.5 million in 2012. The seven-story building spans...

Akelius Burke Leighton
05/14/15
Burke Leighton Asset Management doubled its money in two years with the sale of a 200-unit Crown Heights rental building to fast-rising Akelius Real Estate...

233E77thSthumb
01/27/15
...January 27: Joel Wiener's the Pinnacle Group bought out its partner, Praedium Group, in an eight-building Manhattan and Brooklyn rental portfolio for $31.7 million...

trantor-place-si
01/14/15
Parkway Realty Group acquired a 16-building portfolio on Staten Island’s North Shore for $17.9 million, The Real Deal has learned. Tags: ariel property advisors, Staten...

CrownHeightsMultifamilyPortfolioFBOXNEw
07/16/14
UPDATED, 4:46 p.m., July 16: Australian real estate investment trust Dixon Advisory’s US Masters Residential Property Fund is making a splash in Brooklyn’s multifamily market,...

robin
04/18/14
...stable used for storage amid proposed carriage ban 2. New York-based Praedium Group buys $49 million Colorado apartment complex 3. Cayre Investments’ 40-story tower rising...

53-Greene
03/20/14
The penthouse at the newly converted Soho condominium building, 53 Greene, hit the market for $14.1 million, according to the developer. Tags: brown harris stevens,...

Renderings of a penthouse interior at 182 West 82nd Street
11/11/13
The Naftali Group’s condominiums at 182 West 82nd Street are over 50 percent sold a month after hitting the market, The Real Deal has learned exclusively....

53 Greene Street in SoHo
10/05/13
A newly converted condominium building in Soho is on the market with units selling in the $6.5 million range. The six-story condo at 53 Greene...

orbach
09/12/13
The New Jersey-based real estate investment company the Orbach Group purchased a 33-building residential apartment package on the Upper West Side for $246 million yesterday...

805 St. Mark's Avenue
08/22/13
...Mark's Avenue UPDATED , 1.15 p.m., Aug. 22: A partnership between the Praedium Group and Pinnacle Group, both long-term investors in multi-family walk ups...

441 Convent Avenue, a Pinnacle-owned building
02/19/13
...June 2010, it bought out its equity partner on the deal, Praedium Group, for about $30.3 million, city records show. And then Meadow Partners...

essex
10/08/12
The five most expensive sales recorded last month were valued at $1.46 billion, and brokers had a hand in at least three of the deals,...

10/01/12
...and the sale of the note on the Pinnacle Group/Praedium Group multifamily portfolio. A Jones Lang LaSalle Hotels team brokered the...

From left:
08/02/12
...Side that sold for $17 million to private equity firm the Praedium Group last month, will be redeveloped as luxury condominiums, Crain's reported...

176-182 West 82nd Street
07/12/12
...West Side sold for $17 million to private equity firm the Praedium Group, city records filed today show. The five-story, mixed-use buildings are...

Shana Bowes of MNS, 109 Gold Street and a model living room in the building
04/18/12
Less than a month after the Vinegar Hill condominium building was overtaken by new ownership that planned to turn it into a rental building, 109...

109gold
03/27/12
...which The Real Deal yesterday reported was purchased by the Praedium Group in a partnership with North End Equities earlier this month...

Praedium
03/26/12
...The Praedium Group, a New York City-based real estate investment firm focusing on...

panelists-fb
02/17/12
Residential rentals have proven to be the least volatile among all property asset classes in the wake of the recession, real estate pros agreed at...

DanielNeidichanduws.jpg
11/29/11
...were bought by controversial landlord the Pinnacle Group with the Praedium Group during the real estate boom. Pinnacle alone was thought to...

11/04/10
...apartments co-owned by Pinnacle Group and private equity partner the Praedium Group slipped further into delinquency, according to October data from Trepp...

10/12/10
...Hill, Soho and Lincoln Square. In the fifth largest deal, Praedium Group sold a pair of apartment buildings in Jamaica, Queens. Footnotes...
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  • Event Sales
  • Address 143 Linden Street 2513 Newark Avenue 416, 422 East 17th Street 1617 President Street 233 East 77th Street 237 West 18th Street 349 East 51st St
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 32
notes
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  • Event Sales
  • Address 182 West 82nd Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 17,050,000
notes
The package of contiguous apartment buildings sold for $17.05 million. The properties are located at 176, 178, 180 and 182 West 82nd Street.
  • Event Sales
  • Address Upper West Side portfolio
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 17
notes
[EMPTY]
  • Event Sales
  • Building Name 176-182 82nd Street
  • Address 176 82nd Street
  • Borough Manhattan
  • Price $ 17,000,000
  • Publication Date 09/01/2012
  • Event Date 07/23/2012
  • Party 1 Navistone Amsterdam LLC
  • Party 2 Praedium Group
notes
The package of buildings sold for $17 million. The sellers acquired the properties for $18.7 million in May 2008. Includes 182 82nd Street.
  • Event Sales
  • Address 109 Gold Street
  • Neighborhood DUMBO
  • Borough Brooklyn
  • Price $ 15
  • Publication Date 05/01/2012
  • Event Date 03/17/2012
  • Party 1 Constellation Group
  • Party 1 Broker Stephen Palmese
  • Party 2 Praedium Group, North End Equities
notes
[EMPTY]
  • Event Sales
  • Address 109-15 and 109-25 Merrick Boulevard
  • Neighborhood Jamaica
  • Borough Queens
  • Price $ 9
notes
[EMPTY]
  • Event Sales
  • Address East Harlem portfolio
  • Borough Manhattan
  • Price $ 26,900,000
notes
The affordable housing portfolio sold for $26.9 million. Known as Met Paca I and Met Paca II, the buildings operate under a Section 8 rent subsidy contract with the U.S. Department of Housing and Urban Development. The new owner plans to continue to maintain the portfolio as affordable housing.
  • Event Sales
  • Address 20 Henry Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Price $ 20
notes
[EMPTY]
  • Event Sales
  • Address Brooklyn and Bronx portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 47
notes
[EMPTY]
  • Event Office Leasing
  • Address 825 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 9,700
notes
Moves from 950 Third Ave
Brooklyn, 11201
Praedium Group | North End Equities, GOLD & YORK DEVELOPMENT LLC
...
Brooklyn, 11225
Praedium Group, 382 EASTERN LLC
...

Over the past two years, companies like SL Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted their purchases of distressed properties in...
Brooklyn, 11201
Praedium Group | North End Equities, GOLD & YORK DEVELOPMENT LLC
...
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