Yoo switches focus to rentals

TRD New York /
Jan.January 26, 2009 03:46 PM

Branding, design and investment firm Yoo announced it is going to focus more heavily on rental projects due to the changing housing market and success of Dwell95, Yoo’s first rental building at 95 Wall Street. “With Dwell95 we realized that many people are looking for condo-like living with a high-design, hotel atmosphere, so we decided it was time to expand our reach and move more aggressively into the rental market,” said John Hitchcox, chairman and co-founder of Yoo, in a statement. Hitchcox said Dwell95 was its rental prototype, and that the firm’s goal now is to partner with residential rental developers around the world. Yoo was founded in 1999 by famous designer Philippe Starck and Hitchcox, whose condo projects in Manhattan include Downtown by Philippe Starck, at 15 Broad Street, and Jade, at 16 West 19th Street. The January issue of The Real Deal looked at brokers who are switching from the sales to rental market as home values fall and rentals become more in demand. TRD

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Inside Berkshire Hathaway’s tri-state expansion strategy

Inside Berkshire Hathaway’s tri-state expansion strategy

220 Central Park South and 960 Fifth Avenue with Aerin Lauder (Credit: Getty Images, Warburg Realty)

Who bought the priciest pads in Manhattan last month?

Cristiano Moura (Credit: Christie’s Real Estate and iStock)

Viral Instagram post leads to arrest, assault charge for former Christie’s agent

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

A&E Real Estate Holdings principal Douglas Eisenberg and the properties (Credit: The Rego Park 18 Portfolio)

Deutsche Bank provided A&E $97M in financing for big Rego Park buy