Sterling Equities | The Real Deal New York

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Sterling Equities

111 Great Neck Road
Great Neck, NY 11021
(516) 773-3800
Website
Sterling Equities

The cornerstones of Sterling Equities' business are prime-location properties, private equity and baseball. The firm in 1980 acquired an interest in the New York Mets, and in 2002 it became the ball club's full owner (it also owns SportsNet New York, a regional sports television network it formed in 2005). However, Sterling Equities' real estate holdings are the firm's bread and butter, having developed nearly 25 million square feet of commercial property over the years. Sterling Equities was founded in 1972 by Fred Wilpon and Saul Katz, and within two years it had expanded from New York City to include other such cities as Chicago, St. Louis and Atlanta. Over the years the firm has developed a number of Class A properties, including the towers at 575 Fifth Avenue and 450 Lexington Avenue. Its real estate savvy helped the firm build Citi Field $40 million under budget, as well as take over development of the massive Willets Point project. Not-so-savvy investment decisions led the firm to become embroiled in the Bernie Madoff scandal, however, and the firm in 2012 settled a lawsuit that alleged that Sterling invested in Madoff's Ponzi scheme even though it knew the returns were fraudulent.


590x714_mrmet
09/13/16
There’s another battle brewing between the Chelsea locals who want their tree-lined neighborhood to stay exactly how it is, and the developers who want to...

Barclays_Center_western_side
08/10/16
Russian billionaire Mikhail Prokhorov issued $480 million in municipal bonds to refinance the Barclays Center. Tags: Barclays Center, mikhail prokhorov ...

Citi Field Stadium inset: John Tavares)
07/22/16
...the next borough. The NHL franchise is in talks with Sterling Equities to build a new hockey arena next to the Citi...

Fred Wilpon ft
02/03/16
...Fred Wilpon UPDATED, 10:30 a.m., Feb. 4: Sterling Equities has responded to reports that a Sterling American Property real...

15 Crown Street
02/02/16
BCB Property Management is continuing to divest its real estate holdings as co-founder Bennat Charatan Berger shifts his focus to a new venture. The firm...

575 Fifth Avenue ft
02/01/16
UPDATED, 11:30 a.m., Feb. 2: Barneys New York will remain in its corporate headquarters building at 575 Fifth Avenue after signing a 71,000-square-foot lease renewal and...

Willets Point
12/17/15
The planned Willets Point mall can add another ally to its list. Tags: bill de blasio, Willets Point ...

20140611_willets_point
11/24/15
...in Queens and Stephen Ross The Related Cos.' and Sterling Equities’ plans to redevelop a Willets Point parking lot may not...

Sterling Equities Williamsburg
11/23/15
...Fred Wilpon and 177 North 7th Street in Williamsburg Sterling Equities plans to redevelop a Williamsburg warehouse less than a block...

845_west_end_wilpon thumb
11/17/15
Atlas Capital Group and Fred Wilpon’s Sterling American Property sold a set of 44 condominium units at 845 West End Avenue at 101st Street, banking...

3 World Trade ft
11/09/15
Advertising and marketing giant GroupM is reportedly set to expand its space at Silverstein Properties’ 3 World Trade Center by up to 300,000 square feet....

Fred Wilpon Citi Field thumb
10/23/15
With the Mets on their way to their first World Series in 15 years, the team is projecting booming attendance in 2016. That’s good news...

575 Fifth_Beacon ft
10/15/15
UPDATED, 5:40 p.m., Oct. 15: Real estate investment firm Beacon Capital Partners secured a $321 million loan financing its acquisition of a 50 percent stake in an...

Willets_Pt_from_Citi_Field_jeh tumb
08/28/15
Plans to redevelop and revitalize the Willets Point auto-repair district in Queens have foundered in the face of court challenges and changing city priorities. Tags: Related...

wilpon2 copy feat
08/21/15
SportsNet New York, the Mets’ official TV broadcaster,  is in talks with Silverstein Properties to move its offices to 4 World Trade Center.  Tags: 4 World...

willets west-
08/20/15
...West in Queens and Stephen Ross The Related Cos. and Sterling Equities’ plans for the Queens neighborhood of Willets Point received a...

willets west-
07/09/15
After a New York state appellate court shut down plans to build a shopping mall and movie theater on a parking lot next to Citi...

willets west-
07/06/15
A New York state appellate court halted plans by a group of developers, including public and private entities, to build a shopping mall and movie...

Adam Mermelstein and 106 West 144th Street
04/07/15
...of development rights. Thomas Reynolds is the seller. 3.) In Brooklyn, Sterling Equities, controlled by the Wilpon and Katz families, purchased a Cobble...

willets-point-auto-shops-thumb
03/26/15
...step forward toward the realization of the Related Companies' and Sterling Equities...

260CourtToddKatzfbox
03/18/15
...Court Street in Cobble Hill and Todd Katz Sterling Equities, the co-developer of the Queens megaproject Willets Point, is continuing...

bcb
11/25/14
BCB Property Management, the development firm led by Robert Durst’s estranged wife Debrah Lee Charatan and her son Bennat Charatan Berger, acquired a six-building Upper...

ChaimCahaneVerner902BedfordFbox
09/15/14
UPDATED, 3:33 p.m., Sept. 17: Less than a year after paying $18.2 million for a 65,000-square-foot multifamily rental building in Bedford-Stuyvesant, Springhouse Partners just sold...

WP-5P
08/20/14
...Willets Point rendering (Inset: Sterling Equities...

Willets Point
08/15/14
Opponents of the Willets Point redevelopment claim that, before the city can transfer all the land for the project to developers, additional approvals from the mayor...
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Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Richard A. Wilpon is a senior partner at real estate investment firm Sterling...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Jeffrey Wilpon is senior vice president at Sterling Equities and its associated property...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
In 1971 Fred Wilpon co-founded real estate investment firm Sterling Equities, which he...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Tarak Patolia, who is chief investment officer at real estate investment firm Sterling...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Thomas Osterman is a partner at real estate investment firm Sterling Equities, where...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Todd Katz is a partner at real estate investment firm Sterling Equities. Since...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Michael Katz is senior partner at real estate investment firm Sterling Equities, having...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Gregory Katz is a partner at real estate investment firm Sterling Equities, where...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
David Katz is a partner at real estate investment firm Sterling Equities. His...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Saul B. Katz is president of real estate investment firm Sterling Equities, which...
Sterling Equities
111 Great Neck Road, Great Neck, NY, 516-773-3800
Gregory Katz is a partner at real estate investment firm Sterling Equities, where...
  • Event Sales
  • Address 1378-1384 Bedford Avenue
  • Neighborhood Crown Heights
  • Borough Brooklyn
  • Square feet 38,400
  • Price $ 25,100,000
  • Price per foot $ 653.00
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 Cornell Realty Manage
  • Party 2 Sterling Equities
notes
The property sold for $25.1 million.
  • Event Sales
  • Address 15-25 Crown Street
  • Neighborhood Crown Heights
  • Borough Brooklyn
  • Square feet 51,000
  • Price $ 20,800,000
  • Price per foot $ 407.84
notes
The apartment building sold for $20.8 million.
  • Event Sales
  • Address 28 East 10th Street
  • Neighborhood Greenwich Village
  • Borough Manhattan
  • Square feet 8,426
  • Price $ 10,350,000
  • Price per foot $ 1,228.34
notes
The ground-floor retail space at the Devonshire House condo conversion sold for $10.35 million.
  • Event Sales
  • Address Clearwater portfolio
  • Borough Manhattan
  • Price $ 95,000,000
  • Publication Date 10/01/2005
  • Event Date 08/22/2005
  • Party 1 Sterling Equities
  • Party 2 YL Realty, Nathan Halegua, Martin Newman, Jonis Realty, Serge Hoyda
notes
Sold for $95 million; 224 units, 21 stores total; Eastern Consolidated helped broker deal.
  • Event Sales
  • Address 575 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 520,000
  • Price $ 385,000,000
  • Price per foot $ 740.38
notes
[EMPTY]
  • Event Office Leasing
  • Address 145 Second Avenue
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 1,800
notes
Coffee chain to open in residential apt. building in East Village
Manhattan, 10022
Sterling Equities, STERLING PLAZA CONDOM
...
Brooklyn, 11231
Sterling Equities, 337 CST 9 OWNER LLC
...
Queens, 11368
Willets Point is an area in Corona, Queens, bounded by Northern Boulevard, 126th...

From left: A rending of the Witkoff Group's 5Pointz project and Justin Elghanayan, president of Rockrose Development
There are more than a dozen bridge, tunnel, subway and ferry routes between Manhattan and Queens, and residential ...
Brooklyn, 11231
Sterling Equities, 337 CST 9 OWNER LLC
...
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