CIM Group | The Real Deal New York

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CIM Group

540 Madison Avenue, 8th Floor
New York, NY
(646) 783-4600
Website
CIMInvestorRelations@cimgroup.com
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.


01/12/17
A mystery buyer just scooped up one of 432 Park Avenue’s priciest penthouses for $65.6 million — the second-highest price paid to date for a...

01/11/17
...First Avenue, Shaul Kuba and Avi Shemesh CIM Group is in contract to buy a 24-story Gramercy rental building...

01/04/17
...Avenue, Harry Macklowe and Hamza Al Kholi (credit: DBOX for CIM Group/Macklowe Properties) A Saudi investor who claims Harry Macklowe cut...

12/29/16
The most prolific architects in New York City also tend to be the least visible. These are the firms that are often involved in development...

12/29/16
...s Chuck Rosenzweig (credit: Cornell) and Jared Kushner Kushner Companies, CIM Group and LIVWRK secured a $187 million acquisition loan from Criterion Real...

12/29/16
Manhattan skyscrapers remain the ultimate savings account for the global investment community. Whether the lower end of the investment sales market is hot or not,...

Harry Macklowe
12/27/16
Harry Macklowe obtained a $116 million construction loan from Singapore’s United Overseas Bank for his planned 35-story Upper East Side condominium tower, property records filed...

12/21/16
...Street, CIM's Shaul Kuba (Credit: Getty Images) and Jared Kushner CIM Group, Kushner and LIVWRK this week closed on the second part...

12/20/16
UPDATED: Dec. 20, 6:35 p.m.: A decade after developer Harry Macklowe acquired the site for 432 Park Avenue, sales at the supertall condo tower dominated...

12/16/16
Michael Stern was approaching the lectern when a booming voice from the back of the Gouverneur Health Center on Madison Street stopped him in his...

12/15/16
...Current reader favorites: 1. Manhattan’s New Skyline (*© CIM Group) 2. Uniqlo in talks for 100K sf store at 23 Wall 3. Flushing...

12/14/16
Average apartment prices in Manhattan hit a record of $2.2 million in 2016, thanks in part to closings at ultra-luxury condominiums such as 432 Park...

12/14/16
...Current reader favorites: 1. Manhattan’s New Skyline (*© CIM Group) 2. Extell secures one-week extension on $235M Blackstone loan 3. Inside Moinian...

12/13/16
...Click to enlarge) The meaning of the three letters in CIM Group...

12/07/16
With no shortage of ultra-luxury pads on the market, the developers of 432 Park Avenue are sweetening their offer to would-be buyers and offering millions...

12/02/16
...Park Avenue (credit: DBOX for CIM Group/Macklowe Properties) Lew Sanders, the former CEO of asset manager...

12/02/16
...Architects) UPDATED, Dec. 2, 1:35 p.m.: L+M Development Partners and CIM Group unveiled plans to build two mixed-use towers at 260 South Street...

12/01/16
Simon Dushinsky’s Rabsky Group is the mystery buyer behind the Jehovah’s Witnesses’ latest Dumbo deal, paying $65 million for a building near Dumbo Heights. As...

11/21/16
Blackstone Group head of global real estate Jonathan Gray is in talks with Donald Trump about joining his administration as Treasury secretary. Tags: blackstone group,...

11/16/16
Move over, vitamin C infused showers and indoor swimming pools. The thing every high-end buyer apparently now wants is a toilet with a scenic view....

11/11/16
We’re really starting to see where the estimated $20 billion price tag for Hudson Yards comes from. The largest real estate loans that closed in...

11/03/16
The Jehovah’s Witnesses have sold another development site in Dumbo, but are keeping mum on the selling price and the buyer. The organization sold 69...

10/27/16
...Park Avenue (Photo: DBOX for CIM Group/Macklowe Properties) The sales keep coming at 432 Park Avenue. Just...

10/18/16
UPDATED, 10:43 a.m., Oct. 19: Doug Harmon and Adam Spies had a good thing going at Eastdil Secured. The duo brokered some of the city’s...

10/17/16
The luxury residential market may be softening, but the developers of 212 Fifth Avenue are still betting there is at least one buyer out there...
To see all, go to Advanced Search
CIM Group, Co-founder
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
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
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
Charlie Leonard is vice president at real estate investment company CIM Group, where...
  • 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
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
notes
The property was sold for $225 million.
  • Event Office Leasing
  • Address 11 Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 33,000
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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • Event Residential Sales
  • Address 737 Park Avenue
  • Unit 2E
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 1,330
  • Price $ 3,530,624
  • Price per foot $ 2,654.60
notes
[EMPTY]
  • Event Residential Sales
  • Address 737 Park Avenue
  • Unit 12E
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 4,719
  • Price $ 12,791,310
  • Price per foot $ 2,710.60
notes
[EMPTY]
  • Event Residential Sales
  • Address 737 Park Avenue
  • Unit 5A
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,164
  • Price $ 9,206,267
  • Price per foot $ 2,909.69
notes
[EMPTY]
  • Event Residential Sales
  • Address 737 Park Avenue
  • Unit 17C
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 2,915
  • Price $ 11,494,022
  • Price per foot $ 3,943.06
notes
[EMPTY]
To see all, go to Advanced Search
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432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan....

12/29/16
Manhattan skyscrapers remain the ultimate savings account for the global investment community. Whether the lower end of the investment sales market is hot or not,...

12/20/16
UPDATED: Dec. 20, 6:35 p.m.: A decade after developer Harry Macklowe acquired the site for 432 Park Avenue, sales at the supertall condo tower dominated...

11/11/16
We’re really starting to see where the estimated $20 billion price tag for Hudson Yards comes from. The largest real estate loans that closed in...

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Big names. Big projects. Big price tags. Despite being New York City’s smallest borough, Manhattan development has clearly grown to ...

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In the high-stakes world of Manhattan real estate, agents tend to fall into two camps — those brokering sales in glitzy new condo buildings and...

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CIM founders (left to right): Richard Ressler, Shaul Kuba and Avi Shemesh The principals of the Los Angeles-based private equity firm the CIM Group know a...
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Trump Soho is a 46-story condo-hotel at 246 Spring Street in its namesake...
Manhattan, 10016
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Built in 1937, the 36-floor building had for years served as an extended...
Manhattan, 10013
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Just a few blocks from the Holland Tunnel, the corner property at 72...
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Formerly known as the William Beaver House (and by critics as the Post-It...
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