Nassimi Group takes space at Int’l Gem Tower

FiDi-based brokerage will house investment team in Midtown office

TRD 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
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Gary Barnett and 149 East 124th Street (Credit: Google Maps)

Extell’s plan for East Harlem development site revealed

Extell’s plan for East Harlem development site revealed
Gary Barnett, Central Park Tower, and the Tel Aviv Stock Exchange Bull (Credit: Wikipedia, iStock)

Extell’s Israeli bonds put on downgrade watch

Extell’s Israeli bonds put on downgrade watch
Clockwise from the top: 500 East 30th Street, 1 Ellis Street and 2555 Broadway (Credit: Google Maps)

NYC’s 10 biggest new real estate projects

NYC’s 10 biggest new real estate projects
One Manhattan Square’s adult treehouse (Credit: Extell)

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square

Check out Gary Barnett’s “Adult treehouse” at One Manhattan Square
Extell CEO Gary Barnett and JPMorgan’s Jamie Dimon (Credit: Getty Images)

Barnett refis Diamond District assemblage with $340M loan

Barnett refis Diamond District assemblage with $340M loan
Gary Barnett and an aerial view of 2551 Broadway (Credit: Google Maps)

Extell proposes UWS mixed-use tower after completing assemblage

Extell proposes UWS mixed-use tower after completing assemblage
arrow_forward_ios

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

Loading...