Stonehenge Partners | The Real Deal New York

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Stonehenge Partners

888 Seventh Avenue, 3rd Floor
New York, NY 10106
(212) 894-7410
Website
gweiss@vno.com
Stonehenge-Partners
Stonehenge Partners
When it was formed in 1994, Stonehenge Partners' concept was to take advantage of New York City's distressed real estate market, and that approach continues as its philosophy to this day. The firm has roughly 25 buildings, many of which have been kept as mid- to high-end apartment rentals instead of facing condo conversions. While Stonehenge is known for its ability to carve out pricey apartments in undervalued areas (at one time it boasted the most expensive rental unit in Upper Manhattan), the firm has also come under fire. In 2014 it faced a discrimination lawsuit over one of the company's Upper West Side buildings, which allegedly had barred rent-stabilized tenants from the building's gym. Stonehenge also faced accusations of negligence when in 2013 one of its tenants fell to her death, an incident that was blamed on loose, outdated railing. Stonehenge has a stable of several pension funds, high-net-worth individuals and investment advisors to fund its real estate forays. Throughout its existence, Stonehenge has had strong investment relationships with several pension funds and advisors, including Canadian investment firm Caisse de Depot et Placement du Quebec, Invesco Real Estate and the Public Sector Pension Investment Board.
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Stonehenge Partners, Co-founder
888 Seventh Avenue, 3rd Floor, New York, NY, 212-977-5000
Joel Seiden has been a fixture in the New York City real estate...
Stonehenge Partners, Chairman & CEO
888 Seventh Avenue, 3rd Floor, New York, NY, 212-977-5000
The ladies led Ofer Yardeni to real estate. He began his career as...
Stonehenge Partners, Director of Leasing
888 Seventh Avenue, 3rd Floor, New York, NY, 212-977-5000
Jason Gohari came onboard as an associate director of leasing at Stonehenge Partners...
  • Event Sales
  • Address 6 West 107th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 8,750,000
  • Price per foot $ 670,000.00
notes
The elevator building sold for $8.75 million. Stonehenge acquired the building in August 1995 for $670,000.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 2,500
  • Publication Date 07/01/2012
  • Event Date 05/22/2012
  • Party 1 Stonehenge Partners
  • Party 1 Brokerage New York Commercial Real Estate Services
  • Party 1 Broker Ken Brandman, Abe Bichoupan
  • Party 2 Green Apple Group
  • Party 2 Brokerage New York Commercial Real Estate Services
  • Party 2 Broker Ken Brandman, Abe Bichoupan
notes
The restaurant signed a lease.
  • Event Sales
  • Address 364 West 18th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 57,000
  • Price $ 33,800,000
notes
The property sold for $33.8 million. The buyer plans to rename the building Stonehenge 18, improve the apartments and reposition the building's retail space, which is currently configured as eight storefronts.
  • Event Sales
  • Address 1026 First Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 290,480
  • Price $ 109,000,000
notes
The 290,480 sf property sold for $109 million.
  • Event Sales
  • Address 1143 Second Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 85,000
  • Price $ 47,000,000
  • Publication Date 11/01/2011
  • Event Date 09/22/2011
  • Party 1 KFJ Realty
  • Party 2 Stonehenge Partners
notes
The property sold for $47 million. The building contains 52 studios and 41 one-bedrooms, and has about 10,000 square feet of ground-floor commercial space. The building has 77,000 square feet of development rights.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 850
notes
The eyewear retailer signed a lease.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 3,000
notes
The steakhouse signed a lease.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 3,070
notes
The bank signed a lease for another location.
  • Event Sales
  • Address 401 West 56th Street
  • Neighborhood #N/A
  • Borough Manhattan
  • Price $ 37,960,000
notes
The rental building sold for $37.96 million.
  • Event Retail Leasing
  • Address 141 East 33rd Street
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 6,000
  • Publication Date 11/01/2010
  • Event Date 09/22/2010
  • Party 1 Stonehenge Partners
  • Party 2 NYU Hospitals Center
notes
The medical center leased retail space. It will be used as an ambulatory imaging center.
  • Event Sales
  • Address 555 Sixth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 180,000
  • Price $ 67,340,000
  • Publication Date 09/01/2010
  • Event Date 07/23/2010
  • Party 1 St. Vincent's Hospital
  • Party 2 Stonehenge Partners, SITQ
notes
The sale of the building closed for $67.34 million. The buyers had won the property in an auction in June, which followed the bankruptcy of St. Vincent's Hospital in April.
  • Event Retail Leasing
  • Address 103 West 14th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 1,958
  • Publication Date 02/01/2010
  • Event Date 12/23/2009
  • Party 1 Stonehenge Partners
  • Party 1 Brokerage RKF
  • Party 1 Broker Ariel Schuster, Jonathan Krieger, Ross Berkowitz
  • Party 2 Elevation Burger
  • Party 2 Brokerage RKF
  • Party 2 Broker Greg Covey
notes
The organic burger chain signed a lease for its first Manhattan location. The eatery, which has an additional 1,200 square feet in the basement, is slated for a May 2010 opening.
  • Event Financing
  • Address 108 West 15th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 44,000
  • Price $ 15,330,000
notes
A $15.33 million first mortgage over a five-year term was provided to refinance the property, at a 5.625 percent interest rate. Stonehenge bought the building in June 1997 for $5.84 million with $2.4 million in equity. The property was first refinanced in 2002 for around $6 million and was again refinanced in 2004 for $11.6 million. 6-story apartment building, 55 units total.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 629
notes
The restaurant inked an expansion lease for 14 years and four months. The reported asking rent was $150 per square foot.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 819
  • Publication Date 10/01/2008
  • Event Date 08/22/2008
  • Party 1 Stonehenge Partners
  • Party 1 Brokerage Sinvin Real Estate
  • Party 1 Broker Christopher Owles, Kristin McCann
  • Party 2 Motorcycle Federation
  • Party 2 Brokerage European-American Properties
  • Party 2 Broker Josh Gunsberger
notes
The fashion retailer inked a 10-year lease. The reported asking rent was $175 per square foot.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 2,500
  • Publication Date 05/01/2008
  • Event Date 03/22/2008
  • Party 1 Stonehenge Partners
  • Party 2 Silvano Marchetto
notes
The Italian restaurateur inked a 15-year lease. The reported asking rent was $150 per square foot.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 2,700
notes
The restaurant signed a lease for a 2,500-square-foot ground-level space and 200 square feet of lower-level storage space.
  • Event Office Leasing
  • Address 888 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 15,744
  • Price per foot $ 80.00
notes
The real estate firm signed a lease to expand its offices from the Ritz Plaza at 235 West 48th Street.
  • Event Sales
  • Building Name 8 Gramercy Park Southand 141 East 33rd Street
  • Address 141 East 33rd Street
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 180,000
  • Price $ 83,000,000
notes
The properties sold for $83 million. The rental building at 141 East 33rd Street has 120 apartments, one office space and a 6,000-square-foot retail space; 8 Gramercy Park South has 55 apartments and three office spaces, and features 60,000 square feet of additional air rights.
  • Event Sales
  • Address 1199 First Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 195,000
  • Price $ 126,000,000
  • Publication Date 03/01/2008
  • Event Date 01/21/2008
  • Party 1 Broadway Management Co.
  • Party 2 Stonehenge Partners
notes
The property sold for $126 million. The building has 159 residential units and 13,500 square feet of retail space. Stores include LensCrafters, Duane Reade, Ricky's and Maya Restaurant. The buyer will rename the tower Stonehenge 65th and renovate its lobby and hallways.
  • Event Sales
  • Address 360 East 65th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 130,000,000
notes
The Upper East Side residential property sold for close to $130 million. It will be renamed Stonehenge 65 and renovated to a luxury rental building.
  • Event Sales
  • Building Name 347, 349 and 351 East 58th Street
  • Address 351 East 58th Street
  • Neighborhood Midtown East
  • Borough Manhattan
  • Price $ 10,000,000
notes
The properties went into contract for just over $10 million. The buildings will be renovated and run as residential rentals.
  • Event Sales
  • Address 330 East 63rd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 90,000
  • Price $ 39,000,000
notes
The 93-unit rental building sold for $39 million. The buyer intends to renovate the apartments: 37 studios, 42 one-bedrooms and 14-two bedrooms that average more than 750 square feet. The majority are rent-stabilized.
  • Event Retail Leasing
  • Address 10 Downing Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 3,400
notes
Investor Dan McClure and restaurateurs Joel Michel, Vincent Seufert and Stephane Dorian signed a 15-year lease for a new restaurant. The space comprises a 1,650-square-foot ground floor, a 1,050-square-foot windowed lower level and a 700-square-foot basement.
  • Event Sales
  • Address 209 West 102nd Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 5,400,000
notes
The walk-up building totals 11,900 square feet, including air rights. It sold for $5.4 million, which represents a capitalization rate of 4.0, a gross rent multiple of 13.0 and a per square foot price of $452. Twelve of the units are free market.
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