Todd Bassen joins Joe Farkas’ Metropolitan Realty Associates

Former WeWork, Invesco, Vornado exec will be a principal at development firm

New York /
Jan.January 15, 2016 06:03 PM

Todd Bassen, a former top executive at Invesco and co-head of real estate at WeWork, is joining Metropolitan Realty Associates as a managing principal.

“After 15 years of organic growth, the time was right to bring in a seasoned New York investment expert to advance the expansion of the company,” the firm’s founder Joseph Farkas said in a statement.

Bassen was a top acquisitions executive at Vornado Realty Trust, and then spent five years as head of New York real estate acquisitions for asset manager Invesco. In May 2015, he jumped ship to co-working space giant WeWork, becoming its co-head of real estate, but left the firm a mere three months later.

The hiring of Bassen signals a stronger focus on core New York City for Metropolitan Realty Associates, and potentially on bigger projects. The 15-year-old firm, which in the past focused primarily on the outer boroughs and suburbs, is opening a Manhattan office at 555 Madison Avenue and will move its headquarters there from Long Island. Its most recent major project is Riverdale Crossing, a 159,000-square-foot shopping center in the Bronx which it completed in 2014 and sold to the Vanbarton Group in October 2015 for $133 million.

The firm also developed the Garden City Square complex in Long Island, which it sold for $82.7 million in 2013.

Bassen told The Real Deal that the company will focus on projects between $50 million and $250 million, but could go higher. “After 20 years of institutional investing, working with great companies like Vornado and Invesco, I wanted to do something more entrepreneurial,” he said.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
(iStock)
CoStar Q2 net income down 17%
CoStar Q2 net income down 17%
214 West 109th Street and Isaac Chetrit (Google Maps)
Chetrits to invest $200M in Manhattan apartment portfolio
Chetrits to invest $200M in Manhattan apartment portfolio
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
The Birch Group CEO Mark Meisner and 700 Alexander Park Drive (LinkedIn)
Birch Group buys Princeton office portfolio from BentallGreenOak
Birch Group buys Princeton office portfolio from BentallGreenOak
PHE at 51 Jay Street and 4 Hunts Lane (Compass)
Dumbo penthouse leads Brooklyn’s luxury market
Dumbo penthouse leads Brooklyn’s luxury market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...