These are NYC real estate’s quiet money backers

Shadow investors become exposed as they make big real estate plays

TRD New York /
Aug.August 02, 2016 07:00 AM

From the August issue: Back in 1980 — as oil prices were peaking in the aftermath of the Iranian Revolution — Israeli shipping magnate Sammy Ofer felt the itch to diversify his billion-dollar maritime empire.

Enlisting his then 30-year-old son, Eyal, as his proxy, Ofer waded into New York’s real estate market, paying $800,000 for a brownstone on 42nd Street near Fifth Avenue that he quickly flipped for $1.8 million.

Over the next three decades, the Ofers steadily expanded their core shipping business as well as their real estate investments in New York and across the United States. Since the early aughts, the family’s Global Holdings has backed marquee condos developed by the Zeckendorf family, including 15 Central Park West, 520 Park Avenue, 50 United Nations Plaza and 18 Gramercy Park, as well as the Rudin family’s Greenwich Lane, among other New York City properties. [more]

Related Articles

113-119 East 55th Street and Arthur Zecekndorf of Zeckendorf Development (Credit: Meridian Investment Sales and Getty Images)

These are the details on Zeckendorf Development’s latest residential project

From left: 520 Park Avenue with William Zeckendorf and 240 Centre Street (Credit: Wikipedia, Getty Images, StreetEasy)

These are some of the most notable resi sales in NYC this week

50 United Nations Plaza

Uncle Sam buys $16M penthouse at 50 UN Plaza — one flight down from the UK’s pad

Clockwise from top left: Frank Fertitta, 520 Park Avenue, James Dyson, Ronn Torossian, and Ken Moelis

The 520 Park posse: A unit-by-unit breakdown of all of the closed sales at the Zeckendorf’s ultraluxe building

As Brexit looms, British consulate pays $16M for Manhattan penthouse

Global Holdings lands second major tenant for rebranded 1250 Broadway

It took a 23% discount to sell this penthouse at 520 Park

Zeckendorfs carve up $130M penthouse at 520 Park Avenue