Two Trees Management | The Real Deal New York

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Two Trees Management

45 Main Street, Suite 602
Brooklyn, NY 11201
718 222 2500
Website
office@twotreesny.com
Two-Trees
Two Trees Management
Two Trees Management is a family-owned real estate development firm founded in 1968 by David Walentas and the late Jeff Byers. The firm is synonymous with Dumbo in Brooklyn, a erstwhile derelict industrial hub that Walentas redeveloped into a home and playground for wealthy and creative New Yorkers. As of September 2015, David’s son Jed Walentas ran the firm’s day-to-day operations. Two Trees has owned, managed, and developed a portfolio worth $3 billion, including more than 6,000 apartments and over 3 million square feet of office and retail space. Beginning in the 1978, David Walentas started buying up property in the gritty area between the Manhattan and Brooklyn bridges, amassing 13 buildings, including the Clock Tower Building. He then refurbished the buildings to house condominiums, rentals, artist lofts, and retail nooks for up-and-coming designers. Two Trees initially kept rental prices depressed to ensure an arty, edgy mix of tenants. -TA
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50-West-23rd-Street-and-Jed-Walentas
02/24/16
Workplace training startup Grovo signed a 10-year lease for 70,000 square feet at Two Trees Management’s 50 West 23rd Street in the Flatiron District. Tags: jed...
de-blasio-donors-large thumb
02/22/16
From the February issue: David and Jed Walentas, the father-and-son duo behind Two Trees Management, may have had some not-so-charitable words for Bill de Blasio...
502 Rosedale Avenue
02/18/16
Brooklyn investor Joel Gluck is taking another bite into the South Bronx multifamily market. Gluck just paid $66.7 million, or $177 per square foot, for...
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02/04/16
Mayor Bill de Blasio is throwing his support behind plans for a San Francisco-style streetcar line directly connecting Brooklyn and Queens, which would touch parts of the...
50-West-23rd-Street-and-Jed-Walentas (1)
01/04/16
UPDATED: 2:45 p.m., Jan. 4: Dropbox, the $10 billion cloud-computing company, is moving across the Flatiron District to a much larger space at Two Trees...
ULI-FB
12/17/15
Macy’s $400 million overhaul of its Herald Square store, the Hines-developed office tower overlooking Bryant Park and Two Trees Management’s shimmering rental building at the...
dumbo-heights-renderings
12/10/15
The developers of Dumbo Heights recently signed another batch of office and retail tenants to the sprawling tech hub now under construction. Tags: Dumbo Heights, Jared...
NYC-2016FB
12/07/15
When Oct. 21, 2015 finally rolled around earlier this year, few could resist comparing how accurately the movie “Back to the Future” envisioned the world of today...
Nancy Sher poses for a portrait in her apartment in the Two Trees apartment complex at 125 Court St., in Downtown Brooklyn, N.Y., on Thursday, November 12, 2015.

CREDIT:  Bryan Anselm for ProPublica
12/04/15
When prominent New York developer Jed Walentas asked the city to approve a set of sleek towers on Brooklyn’s industrial waterfront last year, he pitched...
Jed Walentas 125 Court Square thumb
12/04/15
Updated: 4:30 p.m., Dec. 4: Two Trees Management spent years skirting rent regulation requirements at its luxury rental building at 125 Court Street in Downtown...
maimofeat
12/01/15
Residential listings database Nestio just raised $8 million in a Series A fundraising round, CEO Caren Maio told The Real Deal. Trinity Ventures led the round,...
50 West 23rd Street in the Flatiron District (inset: Two Trees’ Jed Walentas)
11/25/15
Hometeam, a provider of caregivers and nurses for senior citizens, is quadrupling the size of its offices, signing a one-year sublease for a 22,000-square-foot space in the...
639eleventh-Land-RoverFB
11/10/15
Land Rover signed a lease to occupy 25,000 square feet in an 11th Avenue showroom a developer plans to deliver next year. Tags: Benjamin Fox...
From left: Two Trees' Jed Walentas, Mayor Bill de Blasio and Stephen Nislick.
11/04/15
There’s a long history of real estate developers tapping into City Hall, but certain donations in the past year show that they may also have...
vishaan feature
10/21/15
Vishaan Chakrabarti is on to his next project — without SHoP Architects. Chakrabarti announced on Wednesday that after three years with SHoP, he’s leaving to...
625-West-57-Durst-feature
10/15/15
The Bjarke Ingels-designed pyramid building on the Far West Side is surely a draw to renters looking to lease an apartment, and soon it may...
south 3rd
10/12/15
Williamsburg investor Shulem Herman is suing the owner of a development site that sits next to the Domino Sugar Factory megaproject for allegedly backing out...
HightowerFoundersFbox
10/08/15
Cloud-based leasing startup Hightower has been selected as a preferred technology provider by CBRE, a ringing endorsement for the startup from the world’s largest commercial...
Bill de Blasio
09/24/15
Since December of 2013, Campaign for One New York, a nonprofit run by political consultants close to Mayor Bill de Blasio, has accepted nearly $4...
Jed-Walentas-325-KentFB
09/04/15
Two Trees Management is close to securing a construction loan for the mixed-income apartment project at the iconic Domino Sugar Factory site in Williamsburg, which...
John Banks-
07/20/15
The Real Estate Board of New York has raised $3 million to bury a provision that would require construction workers be paid a prevailing wage on...
TJ's 206 Kent ft
07/09/15
Brooklynites, rejoice. Trader Joe’s is coming to Williamsburg. Tags: trader joe's, Williamsburg ...
50 West 23rd Street and Jed Walentas
06/29/15
Music-sharing service SoundCloud signed on to take 43,700 square feet in Two Trees Management’s office building at 50 West 23rd Street in the Flatiron District. ...
spitzer's-new-project-thumb
06/16/15
For Eliot Spitzer, politics seems to be nothing but a memory. The former governor is now focused on his $700 million, 856-unit residential development south of...
Alexis Bittar
05/21/15
High-end jewelry retailer Alexis Bittar is moving its office headquarters to the Dumbo Heights campus, The Real Deal has learned. Tags: CBRE, Dumbo Heights, Jared...
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Two Trees Management, Principal
45 Main Street, Suite 602, New York, NY, 718.222.2500
Jed Walentas has, since joining it in 1997, gradually come to run the...
Two Trees Management, Founder and Principal
45 Main Street, #602, Brooklyn, NY, (718)-222-2500
David Walentas is the co-founder, with the late Jeff Byers, of Two Trees...
  • Event Office Leasing
  • Address 50 West 23rd Street
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 43,600
  • Price per foot $ 72.00
notes
The Berlin-based tech company signed a 5-year lease.
  • Event Sales
  • Address 286 Clinton Avenue
  • Neighborhood Clinton Hill
  • Borough Brooklyn
  • Square feet 19,000
  • Price $ 8,150,000
notes
The multifamily property sold for $8.15 million.
  • Event Retail Leasing
  • Address 50 West 23rd Street
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 5,523
notes
The electronics retailer signed a 10.5-year lease. The reported asking rent was $250 per square foot.
  • Event Retail Leasing
  • Address 550 West 54th Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Square feet 5,000
  • Publication Date 08/01/2013
  • Event Date 06/22/2013
  • Party 1 Two Trees Management
  • Party 1 Brokerage In-house
  • Party 2 MH Supermarket Corporation
notes
The supermarket signed a lease at the Mercedes House luxury rental building, the New York Observer reported. The asking rent was $60 per square foot, according to the publication.
  • Event Sales
  • Address 555 West 53rd Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 170,000,000
notes
The 162 apartments at the new development Mercedes House sold for $170 million, the Wall Street Journal reported. The property has 874 units in total.
  • Event Office Leasing
  • Address 45 Main Street
  • Borough Manhattan
  • Square feet 2,600
notes
The gaming company signed a lease.
  • Event Office Leasing
  • Address 50 West 23rd Street
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 9,040
notes
The technology company signed a five-year lease with a five-year option on the 11th floor. The tenant will occupy a temporary space on the fifth floor until its new office is ready.
  • Event Financing
  • Address 555 West 53rd Street
  • Neighborhood Clinton
  • Borough Manhattan
notes
Two construction loans totaling $229 million was provided for the financing of the second phase of development at Mercedes House. The first phase opened for occupancy in May. A team led by John McCarthy of law firm Morrison & Foerster represented the lenders on the deal. 850-unit apartment building.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 1,486
notes
The IT consulting firm signed a lease.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 2,987
notes
The blog publisher signed a lease.
  • Event Sales
  • Address 50 West 23rd Street
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 340,000
  • Price $ 129,500,000
  • Price per foot $ 381.00
notes
The loft building went into contract for $129.5 million, or $381 per square foot. This is the Brooklyn-based company's first office building acquisition in Manhattan.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 572
notes
The design company signed a lease.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 1,590
notes
The interactive TV applications developer signed a three-year lease.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 2,398
notes
The fashion designer signed a lease.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 1,512
notes
The booking agency for musicians signed a lease.
  • Event Retail Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 700
notes
The tenant will use the space to sell its art, furnishings and design pieces.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 1,590
  • Publication Date 04/01/2007
  • Event Date 02/20/2007
  • Party 1 Two Trees Management
  • Party 1 Brokerage In-house
  • Party 2 VE Enterprise
notes
The Web site management firm inked a lease for new space.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 3,045
  • Publication Date 03/01/2007
  • Event Date 01/20/2007
  • Party 1 Two Trees Management
  • Party 1 Brokerage In-house
  • Party 2 Hornet Animations
  • Party 2 Brokerage Capstone Realty Advisors
  • Party 2 Broker Joseph McLaughlin
notes
The animation film company is relocating from Manhattan.
  • Event Sales
  • Address 11th Avenue btw. 53rd and 54th Streets
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 130,000,000
notes
The Dumbo developer is in contract to buy most of the block for approximately $130 million. Walentas is seeking to have the land rezoned from industrial to residential in order to develop more than 1,000 apartments on the site. This would be his first Manhattan project in more than 25 years.
  • Event Retail Leasing
  • Address 111 Front Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 2,414
notes
The space will house an art gallery.
  • Event Office Leasing
  • Address 45 Main Street
  • Borough Manhattan
  • Square feet 1,350
notes
Wireless tech co. signs one-year lease for office space
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