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CIM Group
CIM Group is a Los Angeles-based real estate investment group and private equity firm that specializes in taking over distressed assets and trying to redevelop or reposition them.
The firm made its biggest New York City splash in 2011, when it bought the distressed Drake Hotel site, now known at 432 Park Avenue, from developer Harry Macklowe's lenders for $305 million. CIM Group has also wrested control of other prominent troubled New York developments, including the William Beaver House condo, a stake in 11 Madison Avenue, and the Trump Soho. It also partnered with Macklowe on the development of 432 Park Avenue, which upon its completion became the Western Hemisphere's tallest residential tower.
CIM Group launched in 1994 and took more than a decade to move into the New York City market. The firm was started by Shaul Kuba, who remains a principal.
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07/21/17
...at 25-30 Columbia Heights to developers Kushner Companies, CIM Group and LIVWRK Holdings for $340 million. The partners also purchased 85 Jay Street from the Witnesses...
07/19/17
...The company has worked on Harry Macklowe and CIM Group’s 432 Park Avenue, World Wide Group and Rose Associates' 252 East 57th Street, Vornado Realty...
07/17/17
...-million-square-foot tower at 350 South Grand Avenue owned by CIM Group.
Barrack said the “stars aligned” for the investment. “These are long-lived, irreplaceable assets, which...
07/17/17
...East 59th is more modest that Macklowe and CIM Group...
07/17/17
...The top contract was at Macklowe Properties’ and CIM Group’s 432 Park Avenue, asking $44.8 million. Unit 81B has four bedrooms and five bathrooms across...
07/11/17
...million, sources told The Real Deal.
The seller, CIM Group, has owned the 110-unit, 80,000-square-foot tower at 47 East 34th Street, between Madison and Park...
07/07/17
...chef's kitchen. Shaoul's Magnum Real Estate Group and CIM Group are behind the project, which is being marketed by Corcoran Sunshine Marketing Group. Town...
07/05/17
...Heights. The partnership, which includes Kushner Companies and CIM Group, released renderings of the 670,000-square-foot mixed-use complex last month. -- Konrad Putzier
(To view...
06/29/17
...left; 11 Montgomery Street, Asher Abehsera and Avi Shemesh
CIM Group paid nearly $30 million to buy into a Crown Heights site where LIVWRK has been...
06/28/17
...at 432 Park Avenue, even though Macklowe Properties and CIM Group have had to offer discounts on some pads, total closed sales are approaching $1.8 billion...
06/26/17
...comes nearly a year after developers Kushner Companies, CIM Group and LIVWRK Holdings purchased the building at 25-30 Columbia Heights for $340 million.
Removal of...
06/21/17
...ask. The apartment at the Macklowe Properties and CIM Group...
06/20/17
...though was later discounted to $25 million.
Macklowe and CIM Group converted the 1940s-era prewar building from rentals. The developer reportedly kept his lover turned...
06/12/17
...Street and Park Avenue.
Macklowe teamed up with CIM Group on the conversion of the building, which has averaged sale prices north of $3,000 per...
06/07/17
...but it’s already on the chopping block. CIM Group is nearing a deal to sell the West Hollywood property to Barry Sternlicht’s...
06/05/17
...deal to buy the 286-key James Hotel from CIM Group.
(To view more commercial sales transactions in the Lower East Side, click here...
06/01/17
...via Curbed)
UPDATED, June 1, 11:08 a.m.: Kushner Companies, CIM Group and LIVWRK unveiled renderings for their planned makeover of the former Jehovah’s Witnesses...
05/30/17
...that Mitsui Fudosan bought a 20 percent stake in CIM Group; in fact, it was Mitsui & Co...
05/25/17
...Adjmi (Credit: Getty Images and LinkedIn)
Kushner Companies, CIM Group and LIVWRK have tapped architect Morris Adjmi to design their newest flagship Brooklyn project...
05/25/17
...Trump Soho (Credit: Trump Hotels)
The CIM Group, one of New York’s most active real estate investors, has a reputation for...
05/23/17
...Street. And a partnership led by Kushner Companies, CIM Group and LIVWRK paid $340 million for their 733,000-square-foot headquarters at 25-30 Columbia Heights last year...
05/16/17
...of the marketing team for Macklowe Properties and CIM Group’s luxury tower. “We are negotiating.”
Speaking Monday at The Real Deal’s annual...
05/12/17
...company also regularly partners with California-based fund manager CIM Group. It’s now looking for a new partner to help fund the conversion of...
05/03/17
...with Cove Property Group from Kushner Companies and CIM Group for $225 million. -- Konrad Putzier...
04/24/17
...open, but it’s already on the block.
CIM Group is close to a deal to sell the 286-room James hotel on the southeast...
CIM Group, Co-founder
540 Madison Avenue, 8th Floor, New York, NY, 646-783-4600
540 Madison Avenue, 8th Floor, New York, NY, 646-783-4600
Co-founder is a title often associated with Richard Ressler. He co-founded real estate...
CIM Group, Co-founder
4700 Wilshire Boulevard, Los Angeles, CA, 323-860-4900
4700 Wilshire Boulevard, Los Angeles, CA, 323-860-4900
Avi Shemesh, one of the co-founders of real estate investment firm CIM Group,...
CIM Group, Co-founder
4700 Wilshire Boulevard, Los Angeles, CA, 323-860-4900
4700 Wilshire Boulevard, Los Angeles, CA, 323-860-4900
Shaul Kuba, co-founder of CIM Group, is known among his peers at being...
CIM Group, Vice President
540 Madison Avenue, 8th Floor, New York, NY, 646-783-4600
540 Madison Avenue, 8th Floor, New York, NY, 646-783-4600
Charlie Leonard is vice president at real estate investment company CIM Group, where...
- Event Sales
- Address 343 East 17th Street
- Neighborhood Gramercy
- Borough Manhattan
- Square feet 1,900
- Price $ 13,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 Mount Sinai Beth Israel
- Party 2 CIM Group
notes
The outpatient center, which is currently part of the hospital, was sold for $13 million.
- Event Sales
- Building Name Gilman Hall Tower
- Address 301 First Avenue
- Neighborhood Gramercy
- Borough Manhattan
- Square feet 146,000
- Price $ 87,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 Beth Israel Medical Center
- Party 2 CIM Group
notes
The 24-story building, which used to house medical residents, was sold for $87 million.
- Event Retail Leasing
- Address 140 West Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 68,400
- Publication Date 03/01/2017
- Event Date 01/15/2017
- Party 1 Magnum Real Estate Group, CIM Group
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker David Tricarico
- Party 2 TJX Companies
- Party 2 Brokerage Ripco Real Estate
- Party 2 Broker Peter Ripka, Richard Skulnik
notes
The retail giant signed a lease to open another Marshall's store in Manhattan.
- Event Financing
- Address 85 Jay Street
- Neighborhood Fulton Ferry
- Borough Brooklyn
- Square feet 134,988
- Price $ 187,000,000
notes
The partnership secured an acquisition loan of $187 million for the purchase of a development site.
- Event Financing
- Address 25 Columbia Heights
- Neighborhood Downtown Brooklyn
- Borough Brooklyn
- Square feet 739,000
- Price $ 376,000,000
- Publication Date 09/01/2016
- Event Date 07/15/2016
- Party 1 Kushner Companies, CIM Group, LIVWRK
- Party 2 Blackstone Group, SL Green Realty
notes
The partnership secured $376 million in acquisition, building and project loans.
- Event Sales
- Address 432 Park Avenue
- Neighborhood Midtown East
- Borough Manhattan
- Square feet 74,816
- Price $ 411,100,000
- Price per foot $ 5,494.00
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 CIM Group
- Party 2 Macklowe Properties
notes
The retail condominiums sold for $411 million.
- Event Sales
- Address 2 Rector Street
- Neighborhood Lower Manhattan
- Borough Manhattan
- Square feet 476,000
- Price $ 225,000,000
- Price per foot $ 472.69
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 CIM Group, Kushner Companies
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Douglas Harmon, Adam Spies
- Party 2 Cove Property Group, Multi-Employer Property Trust, Bentall Kennedy
notes
The property was sold for $225 million.
- Event Office Leasing
- Address 11 Madison Avenue
- Neighborhood Flatiron
- Borough Manhattan
- Square feet 33,000
- Publication Date 09/01/2015
- Event Date 07/23/2015
- Party 1 Sapir Organization, CIM Group
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Zakery Snider, Brad Gerla
- Party 2 William Morris Endeavor
- Party 2 Brokerage Savills Studley
- Party 2 Broker Brian Goldman, Newmark Grubb Knight, John Mambrino
notes
The talent agency signed a 33,000-square foot expansion lease, bringing its space in the building to 99,000 square feet.
- Event Office Leasing
- Address 5 Hanover Square
- Neighborhood Financial District
- Borough Manhattan
- Square feet 14,126
- Publication Date 08/01/2015
- Event Date 06/22/2015
- Party 1 CIM Group
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Todd Stracci, Hal Stein, Travis Wilson, Daniel Appel
- Party 2 Nonprofit Finance Fund
- Party 2 Brokerage DTZ
- Event Residential Sales
- Address 737 Park Avenue
- Unit 6A
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 3,164
- Price $ 9,391,263
- Price per foot $ 2,968.16
- Publication Date 07/01/2015
- Event Date 06/16/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 New York 255 LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 7A
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 2,255
- Price $ 7,157,694
- Price per foot $ 3,174.14
- Publication Date 06/18/2015
- Event Date 06/04/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 Eml Family Investments LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit PH
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 6,003
- Price $ 32,658,763
- Price per foot $ 5,440.41
- Publication Date 06/03/2015
- Event Date 05/21/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 737 Park Phny LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 14A
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 2,374
- Price $ 7,413,532
- Price per foot $ 3,122.80
- Publication Date 05/12/2015
- Event Date 04/16/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 GARY L. GROSS CO-TRUSTEE, HARLEY I. GROSS CO-TRUSTEE, GARY L. GROSS TRUST U/A DATED NOVEMBER 7,1986
- Event Residential Sales
- Address 737 Park Avenue
- Unit 11E
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 4,719
- Price $ 12,918,590
- Price per foot $ 2,737.57
- Publication Date 04/07/2015
- Event Date 03/31/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 Art Vandelay Industries LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 3E
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 3,132
- Price $ 8,655,125
- Price per foot $ 2,763.45
- Publication Date 02/11/2015
- Event Date 01/30/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 Contego Realty LLC
- Event Financing
- Address 140 West Street
- Neighborhood Tribeca
- Borough Manhattan
- Publication Date 03/01/2015
- Event Date 01/20/2015
- Party 1 Magnum Real Estate Group, CIM Group
- Party 1 Brokerage iStar Financial
notes
A $390 million loan was arranged to convert the upper 22 floors of the office building into residential. 32-story
- Event Residential Sales
- Address 737 Park Avenue
- Unit 8C
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 2,915
- Price $ 10,177,409
- Price per foot $ 3,491.39
- Publication Date 02/03/2015
- Event Date 01/15/2015
- Party 1 Macklowe Properties, CIM Group
- Party 2 737 Park Apartment LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 4A
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 3,156
- Price $ 5,091,250
- Price per foot $ 1,613.20
- Publication Date 01/03/2015
- Event Date 12/23/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Z-4a 737 LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 6C
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 4,449
- Price $ 14,510,063
- Price per foot $ 3,261.42
- Publication Date 01/12/2015
- Event Date 12/16/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Sophia Chelli
- Event Residential Sales
- Address 737 Park Avenue
- Unit 4C
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 2,915
- Price $ 8,693,835
- Price per foot $ 2,982.45
- Publication Date 10/22/2014
- Event Date 10/09/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 737 Park Avenue Nyc LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 8A
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 3,164
- Price $ 9,766,304
- Price per foot $ 3,086.70
- Publication Date 10/17/2014
- Event Date 09/30/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Mazda LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 9C
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 2,915
- Price $ 10,386,150
- Price per foot $ 3,563.00
- Publication Date 10/29/2014
- Event Date 09/19/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Marcel Cassard, S. Cassard
- Event Residential Sales
- Address 737 Park Avenue
- Unit 15E
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 4,382
- Price $ 13,695,463
- Price per foot $ 3,125.39
- Publication Date 10/30/2014
- Event Date 09/16/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Mak Acquisitions LLC
- Event Residential Sales
- Address 737 Park Avenue
- Unit 10F
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 1,669
- Price $ 5,214,800
- Price per foot $ 3,124.51
- Publication Date 08/13/2014
- Event Date 08/05/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Douglas Benson, Paul Dassenko
- Event Residential Sales
- Address 737 Park Avenue
- Unit 5E
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 3,149
- Price $ 9,201,427
- Price per foot $ 2,922.02
- Publication Date 08/12/2014
- Event Date 07/30/2014
- Party 1 Macklowe Properties, CIM Group
- Party 2 Kristy Kingston
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Manhattan, 10003
305 FIRST AVENUE (NY) OWNER, LLC
305 FIRST AVENUE (NY) OWNER, LLC
311 First Avenue is a 7,015 square foot property built in 1950 in...
Manhattan, 10013
CIM Group, BAYROCK/SAPIR ORGANIZATION LLC
CIM Group, BAYROCK/SAPIR ORGANIZATION LLC
Trump Soho is a 46-story condo-hotel at 246 Spring Street in its namesake...
Manhattan, 10022
HFZ Capital Group|CIM Group, 51ST STREET MAIN LOT OWNER, LLC
HFZ Capital Group|CIM Group, 51ST STREET MAIN LOT OWNER, LLC
The Halcyon building at 305 East 51st Street barely had time to stretch...
Manhattan, 10016
Cim Group, CIM GROUP LLC
Cim Group, CIM GROUP LLC
Built in 1937, the 36-floor building had for years served as an extended...
Manhattan, 10010
Elad Group, 225 5TH, LLC
Elad Group, 225 5TH, LLC
The Grand Madison building at 225 Fifth Avenue, smack dab in the middle...
Manhattan, 10010
The office building at 11 Madison Avenue, once known as the MetLIfe Building,...
Manhattan, 10013
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
Just a few blocks from the Holland Tunnel, the corner property at 72...
Manhattan, 10004
Sapir Organization, SDS WILLIAM STREET LLC
Sapir Organization, SDS WILLIAM STREET LLC
Formerly known as the William Beaver House (and by critics as the Post-It...
Manhattan, 10022
Macklowe Properties|CIM Group, 440 PARK AVENUE (NY) OWNER, LLC
Macklowe Properties|CIM Group, 440 PARK AVENUE (NY) OWNER, LLC
432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan....
12/29/16
...before Related Companies, HFZ Capital Group and the CIM Group took over the project in 2012. The architecture firm was also tapped this year to...
12/29/16
...Green bought it from the Sapir Organization and CIM Group for $2.6 billion ($2.3 billion plus $300 million in lease-stipulated improvements). In August of this year, PGIM...
12/20/16
...years after sales launched, developers Macklowe Properties and CIM Group finally obtained a certificate of occupancy in late November 2015, allowing buyers to close on...
11/11/16
...Dumbo -- $376 million
25-30 Columbia Heights
Kushner Companies, CIM Group and LIVWRK bet big on Dumbo when they picked up the Jehovah’s Witness...
09/28/16
...billion purchase of the tower in full from CIM Group and Sapir Organization was one of 2015’s top deals. The building is valued at...
...units in the past four years.
With partner CIM Group, Magnum is behind the condo conversion at the old Verizon Building at 100 Barclay Street...
07/15/15
...units.
Taking fifth place was Macklowe Properties and CIM Group’s 737 Park Avenue, an Upper East Side prewar conversion that after numerous legal battles...
...a condo conversion by Magnum Real Estate and CIM Group at 100 Barclay Street, where he has more than $116 million in listings.
“We’re in...
...condo market in 2011, when it lent Macklowe and CIM Group $250 million for their conversion of 737 Park Avenue.
Financing condo construction is undoubtedly attractive to...
...the industry as customers, including Tishman Speyer, the CIM Group and Beacon Capital. And, in just a short amount of time, sources say, it...
...building’s owners, the Sapir Organization and the CIM Group. The deal blows away all other Manhattan leases signed last year in both size...
...super-luxury towers rising there, including Macklowe Properties and CIM Group’s 432 Park Avenue.
At the same time, Crown stepped back from smaller deals in...
...the über-luxury condo tower being built by the CIM Group and Harry Macklowe, reached the 1,054-foot mark, officially surpassing Extell Development’s 1,005-foot One...
...city: 432 Park, which is being developed jointly by CIM Group and Macklowe Properties; and One57, which being built by Gary Barnett’s Extell Development...
...Capital. Also this summer, California-based private equity firm CIM Group acquired 335,000-square-foot 5 Hanover Square from institutional real estate private equity firm Savanna, while the...
...by the owners, the Sapir Organization and the CIM Group, and handled by CBRE.
The Midtown South market was the darling of Manhattan office...
...feet of office space at Kushner Companies and CIM Group’s 200 Lafayette Street in Soho.
The deal in the rehabilitated Class B building has...
...of the Los Angeles-based private equity firm the CIM Group know a thing or two about military strategy -- two of them served as...
Manhattan, 10022
HFZ Capital Group|CIM Group, 51ST STREET MAIN LOT OWNER, LLC
HFZ Capital Group|CIM Group, 51ST STREET MAIN LOT OWNER, LLC
The Halcyon building at 305 East 51st Street barely had time to stretch...
Manhattan, 10013
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
Just a few blocks from the Holland Tunnel, the corner property at 72...
Manhattan, 10022
Macklowe Properties|CIM Group, 440 PARK AVENUE (NY) OWNER, LLC
Macklowe Properties|CIM Group, 440 PARK AVENUE (NY) OWNER, LLC
432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan....
