Nassimi Group takes space at Int’l Gem Tower

FiDi-based brokerage will house investment team in Midtown office

New York /
Jun.June 15, 2016 01:04 PM

Richard Nassimi’s eponymous residential brokerage, investment and development company is polishing up its Manhattan footprint with a new office at the International Gem Tower, where the company plans to beef up its commercial activity.

The Nassimi Group, a two-year-old firm currently based in the Financial District, is taking around 2,000 square feet of space on the 16th floor of Extell Development’s 50 West 47th Street, Richard Nassimi told The Real Deal. The office will house the Nassimi Group’s commercial team, which is looking to ramp up investment in mixed-use assets on behalf of Nassimi and his partners.

“The market right now is slowing down so it’s the right time to buy,” said Nassimi, who employs 30 people. “People have more ‘intelligent’ deals versus speculation. Things make more sense.”

Nassimi did not share details of his lease, but asking rents in the building are currently between $85 per foot and $95 per foot, according to CoStar.

Nassimi, formerly of the Corcoran Group, led sales at the W Downtown and the Cipriani Club Residences at 55 Wall Street. He left Corcoran in 2014 to form the Nassimi Group. Like Extell’s chief Gary Barnett, Nassimi worked in the diamond trade before embarking on a career in real estate.


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)
Extell lands $690M refinancing package for One Manhattan Square
Extell lands $690M refinancing package for One Manhattan Square
North Dakota businessman scoops up 2nd unit in Extell’s One57
North Dakota businessman scoops up 2nd unit in Extell’s One57
North Dakota businessman scoops up 2nd unit in Extell’s One57
Extell to build UES building around 2 occupant holdouts
Extell to build UES building around 2 occupant holdouts
Extell to build UES building around 2 occupant holdouts
From left: Robert Mercer with 48-05 Metropolitan Avenue and Gary Barnett with 17 West 60th Street (Getty, Google Maps, Bulado General Contractors Corp)
$730M loan bundle funds slew of NYC projects
$730M loan bundle funds slew of NYC projects
Gary Barnett and Central Park Tower at 217 West 57th Street
Why Gary Barnett is selling Central Park Tower at 25% off
Why Gary Barnett is selling Central Park Tower at 25% off
Extell Development chairman Gary Barnett and the empty lot between 79th and 80th on First Avenue (Google Maps)
Extell building 30-story medical tower on UES
Extell building 30-story medical tower on UES
Extell's Gary Barnett and Central Park Tower
Central Park Tower condo sells for half its asking price
Central Park Tower condo sells for half its asking price
Gary Barnett with an aerial of 738 and 740 Eighth Avenue (Google Maps)
Extell’s Times Square megaproject advances with $82M deal
Extell’s Times Square megaproject advances with $82M deal
arrow_forward_ios

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

Loading...