Studley steps into mixed-income housing at Quadriad

New York real estate legend Julien Studley is known for his out-of-the-box thinking, and his involvement with a new firm dedicated to mixed-income development appears to demonstrate this anew.

The founding lineup of the new firm, Quadriad, also includes Henry Wollman, director of the Newman Real Estate Institute at Baruch College, and real estate financier Richard Pergolis of Pergolis Swartz Associates.

Studley is the former chairman of Julien J. Studley, the commercial firm he founded in 1954 that became a force behind shaping Manhattan’s skyline. He will serve as chairman of Quadriad and Pergolis will serve as vice president. The firm’s headquarters are at 505 Park Avenue.

Details were scarce on where Quadriad will develop these mixed-income projects, but Wollman, the firm’s president, said in June that they were focusing on sites already selected in East Harlem, Williamsburg and Greenpoint. He said he could not discuss specific sites or give exact locations.

“What we intend to do,” Wollman told The Real Deal, “is to create a set of 10 or 11 projects that will, we hope, if we have the appropriate backing of the city, create a new standard for mixed-use development in New York.”

Wollman said he could not discuss the city’s reaction so far to Quadriad’s plans.

“The best answer I can give is we are in intense discussion,” he said. “We will go public [with the sites] as we think of the appropriate moment.”