AREA Property Partners was a leading private equity firm. Formerly known as Apollo Global Management, it was acquired by Ares Management LLC in May 2013 under undisclosed terms.
In the 20 years before its acquisition, AREA invested more than $13 billion in more than 570 transactions. Headquartered in Manhattans Time Warner Center, which it co-developed with the Related Companies, AREA was also a partner in major real estate projects and properties in New York City, including huge apartment portfolios in Manhattan and Queens (as well as that Time Warner Center).
Under the Ares acquisition, AREA co-founder and chairman William Mack stepped aside. His son, Richard, AREAs North American CEO, stayed on as a senior adviser to Ares. Lee Neibart, AREAs overall CEO, took on a partner role in Ares real estate group.
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- Event Sales
- Address 93-35 Lamont Avenue; 32-15 and 32-25 93rd Street; 38-05 Crescent Street; 143-45 Sanford Avenue; 41-46 50th Street; 39-25 65th Street; 39-89 50th Street; 41-45 52nd Street
- Neighborhood Elmhurst, Woodside, Jackson Heights Sunnyside, Long Island City
- Borough Manhattan
- Square feet 403,800
- Price $ 133,000,000
- Publication Date 01/01/2017
- Event Date 11/17/2016
- Party 1 AREA Property Partners
- Party 2 A&E Real Estate Holdings, Benedict Realty Group
- Event Sales
- Address 139-06 34th Road
- Neighborhood Flushing
- Borough Queens
- Price $ 46,000,000
- Publication Date 07/01/2016
- Event Date 05/15/2016
- Party 1 AREA Property Partners, Vantage Properties
- Party 2 A&E Real Estate Management
- Event Sales
- Address Queens portfolio
- Neighborhood Midtown
- Borough Queens
- Price $ 68,000,000
- Publication Date 09/01/2013
- Event Date 07/18/2013
- Party 1 AREA Property Partners
- Party 2 BRG
- Event Sales
- Address 2070 and 2074 Arthur Avenue
- Neighborhood Tremont
- Borough Bronx
- Price $ 4,230,000
- Publication Date 06/01/2013
- Event Date 04/17/2013
- Party 1 AREA Property Partners
- Party 1 Broker Ronnie Shaban
- Party 2 King Penguin Opportunity Fund LLC
- Event Sales
- Address 45 West 139th Street
- Neighborhood Central Harlem
- Borough Manhattan
- Price $ 210,000,000
- Publication Date 08/01/2012
- Event Date 06/22/2012
- Party 1 AREA Property Partners LP, Vantage Properties LLC
- Party 2 Citigroup, L&M Development Partners
- Event Sales
- Address Manhattan portfolio
- Neighborhood SoHo
- Borough Manhattan
- Price $ 65,000,000
- Publication Date 07/01/2012
- Event Date 05/17/2012
- Party 1 Vantage Properties, Area Property Partners
- Party 1 Broker Peter Hauspurg, David Schechtman, Lipa Lieberman
- Party 2 Sentinel Real Estate, Alma Realty, Onex Real Estate Partners
- Event Sales
- Address 233 West 111th Street
- Neighborhood Central Harlem
- Borough Manhattan
- Square feet 78,331
- Price $ 11,100,000
- Price per foot $ 141.71
- Publication Date 02/01/2008
- Event Date 12/23/2007
- Party 1 Vantage Properties, Area Property Partners
- Party 1 Brokerage Massey Knakal Realty Services
- Party 1 Broker Marco Lala, Shimon Shkury
- Party 2 Queens investor
QPI-XXXII LLC
QPI-XXXII LLC
HP SAVOY HOUSING DEVELOPMENT FUND COMPANY INC.
Related Companies, COLUMBUS CENTRE RESIDENTIAL LLC