Crown Acquisitions’ Stanley Chera hospitalized

Developer and retail titan rushed to New York Presbyterian in recent days with an unknown illness

New York /
Mar.March 25, 2020 05:23 AM

Stanley Chera

Stanley Chera, the founder of Crown Acquisitions and one of New York’s biggest retail landlords, has been hospitalized in the midst of the coronavirus pandemic.

Chera, 78, was taken from his summer home near Deal, New Jersey to New York Presbyterian/Weill Cornell Medical Center, with an unknown illness, the New York Post reported.

The developer is a close associate of President Trump, who had advised him to leave New York and spend time in Deal as the virus spread rapidly in the city, according to the newspaper. Deal is a popular vacation-home destination for many moguls hailing from the Syrian Jewish community that dominate New York retail.

A spokesperson told the Post that Trump “connected with Stanley” and that “all is resolved,” while Haim Chera, Stanley’s son and head of retail at Vornado Realty Trust, said Monday that Stanley was “doing very well.”

Crown Acquisitions’ New York holdings include stakes in a prime Manhattan retail portfolio controlled by Vornado, One World Trade Center, 650 Madison Avenue and the Olympic Tower.

The Chera family started in the apparel business and invested in the buildings that housed its chain of children’s clothing stores, known as Young World, founded by Stanley’s father, Isaac. By the late 1980s, Stanley was investing in major Manhattan real estate. [NYP] — TRD Staff


Related Articles

arrow_forward_ios
New York City Comptroller Brad Lander (Office of New York City Comptroller Brad Lander, iStock)
Office occupancy in New York finally hits 40%
Office occupancy in New York finally hits 40%
(iStock/Illustration by The Real Deal)
Real estate agents landed $3.9B in PPP loans: report
Real estate agents landed $3.9B in PPP loans: report
(iStock/Illustration by The Real Deal)
Leisure, hospitality, construction lead strong May job gains
Leisure, hospitality, construction lead strong May job gains
(iStock, Illustration by Kevin Cifuentes for The Real Deal)
Office occupancy hits pandemic high
Office occupancy hits pandemic high
(iStock/Illustration by Steven Dilakian for The Real Deal)
Jobs report brings good news for real estate
Jobs report brings good news for real estate
Marc Holliday and 450 Park Avenue (SL Green Realty, 450ParkAve.com, iStock)
SL Green nears deal for Park Avenue office tower
SL Green nears deal for Park Avenue office tower
(iStock)
Leisure and hospitality gain ground as 2022 opens in hiring boom
Leisure and hospitality gain ground as 2022 opens in hiring boom
(iStock)
Canada’s biggest city has just 3,200 homes for sale, an all-time low
Canada’s biggest city has just 3,200 homes for sale, an all-time low
arrow_forward_ios

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

Loading...