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 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.


10/10/18
...Avenue. The firm bought the 29-story tower from CIM Group for $2.6 billion. 18 The number of months it’s expected to take Chinese conglomerate HNA...

10/10/18
...issuing its first loan to Macklowe Properties and CIM Group for the Upper East Side conversion of 737 Park Avenue to a condo, the lender...

10/08/18
...s Witnesses properties in Dumbo to Kushner Companies, CIM Group and LIVWRK in August 2016. But there were early signs that he and his colleagues...

10/05/18
...Shaul Kuba (Credit: iStock) CIM Group is studying whether to dissolve the REIT side of its business as it explores...

10/03/18
...expansion plans by signing a new lease at CIM Group...

...issuing its first loan to Macklowe Properties and CIM Group for the Upper East Side conversion of 737 Park Avenue to a condo, the lender...

...Avenue. The firm bought the 29-story tower from CIM Group for $2.6 billion. 18 The number of months it’s expected to take Chinese conglomerate HNA...

...s Witnesses properties in Dumbo to Kushner Companies, CIM Group and LIVWRK in August 2016. But there were early signs that he and his colleagues...

10/01/18
...Realty’s weekly market report. Harry Macklowe and CIM Group’s 432 Park Avenue claimed the week’s priciest deal for the seventh time this...

09/24/18
...the same time last year. Harry Macklowe and CIM Group’s 432 Park Avenue claimed the week’s No. 1 spot for the sixth time this...

09/17/18
...s Witnesses properties in Dumbo to Jared Kushner, CIM Group and LIVWRK in 2016. Knakal had a dollar volume of more than $2 billion in 2017 and...

09/12/18
...sale of a 49 percent stake in 11 Madison to CIM Group. On his initial return, Tamir Sapir deducted a claimed $450 million in personal liability for...

09/10/18
...following year, the firm and its minority partner CIM Group sold the iconic 11 Madison Avenue to SL Green Realty for $2.6 billion. Sapir paid $675 million...

09/07/18
...in New York City. He negotiated Kushner Companies, CIM Group and LIVWRK's $340 million purchase of the Watchtower complex in Brooklyn (Kushner has since sold...

09/07/18
...Jay Street, opting to sell its interest to CIM Group after already obtaining a $600 million construction loan...

08/30/18
...and a parking garage. 3. Jehovah’s loans – $276.2 million CIM Group and LIVWRK Holdings landed a $276.2 million loan for the former Jehovah’s Witnesses site...

08/20/18
...most expensive contract was for a unit at CIM Group and Macklowe Properties' 432 Park Avenue with a listing price of $16.95 million. This is the...

08/10/18
...sign — recently removed by a joint venture of CIM Group and LIVWRK Holdings — hovered above Brooklyn Heights illegally for half a century. According to...

08/01/18
...have marble floors. As developers Macklowe Properties and CIM Group have sought to offload sponsor units, they’ve been competing with owners' resale listings...

07/25/18
...of many recent resales at Macklowe Properties and CIM Group’s supertall...

07/25/18
...most of Billionaires’ Row, including Harry Macklowe and CIM Group’s 432 Park Avenue, World Wide Group and Rose Associates’ 252 East 57th Street, Vornado Realty...

07/23/18
...other two are being developed by JDS Development, CIM Group and L+M Development- that will contain 2,775 apartments. Out of that total, 694 will permanently...

07/23/18
...away in Crown Heights: a 163-unit project from CIM Group and LIVWRK at 111 Montgomery Street. Meanwhile, 24 other condo projects — the largest of which was...

07/17/18
...massive development sites in Dumbo to its partner CIM Group in June. And last year, it sold its stake in a nearby vacant office...

07/11/18
...the coming years as Golub & Company and CIM Group plan a massive overhaul of the former Tribune Tower complex, which would include construction...
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 Office Leasing
  • Address 5 Hanover Square
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 28,820
  • Publication Date 10/08/2018
  • Event Date 10/05/2018
  • Party 1 CIM Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker Michael Rizzo, Adam Leshowitz, Robert Wizenberg
  • Party 2 Knotel
  • Party 2 Brokerage Skylight Leasing
  • Party 2 Broker Elie Reiss
notes
The co-working space provider inked a lease for the Financial District building.
  • Event Financing
  • Address 85 Jay Street
  • Neighborhood Dumbo
  • Borough Brooklyn
  • Square feet 90,000
  • Price $ 600,000,000
  • Publication Date 07/02/2018
  • Event Date 06/28/2018
  • Party 1 CIM Group
  • Party 2 JPMorgan Chase
notes
The owner secured a loan of $600 million for the Dumbo condo project.
  • Event Financing
  • Address 85 Jay Street
  • Neighborhood DUMBO
  • Borough Brooklyn
  • Square feet 874,000
  • Price $ 600,000,000
  • Publication Date 04/09/2018
  • Event Date 04/06/2018
  • Party 1 CIM Group, LIVWRK, Kushner Companies
  • Party 2 JPMorgan Chase
notes
The owners secured a $600 million loan for the DUMBO property.
  • Event Sales
  • Address 1440 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 747,576
  • Price $ 520,000,000
  • Publication Date 01/09/2018
  • Event Date 12/21/2017
  • Party 1 New York REIT
  • Party 1 Brokerage CBRE, Eastdil Secured
  • Party 2 CIM Group
notes
The buyer acquired the Midtown building for $520 million.
  • Event Financing
  • Address 1440 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 747,576
  • Price $ 360,000,000
  • Publication Date 01/09/2018
  • Event Date 12/21/2017
  • Party 1 CIM Group
  • Party 1 Brokerage CBRE, Eastdil Secured
  • Party 2 Blackstone Group
notes
The owner secured a loan for $360 million for the Midtown building.
  • Event Financing
  • Address 111 Montgomery Avenue
  • Neighborhood Saint George
  • Borough Staten Island
  • Square feet 3,500
  • Price $ 57,000,000
  • Publication Date 01/09/2018
  • Event Date 12/28/2017
  • Party 1 LIVWRK, CIM Group
  • Party 2 Bank of the Ozarks
notes
The owners secured a $57 million construction loan for the Saint George property.
  • Event Financing
  • Address 16 Court Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 317,600
  • Price $ 110,000,000
  • Publication Date 11/01/2017
  • Event Date 10/12/2017
  • Party 1 CIM Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker James Millon, Tom Traynor
  • Party 2 Barclays; Citigroup
notes
The urban real estate and infrastructure fund manager secured a loan for $110 million.
  • Event Sales
  • Address 16 Court Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 317,600
  • Price $ 171,000,000
  • Publication Date 11/01/2017
  • Event Date 10/12/2017
  • Party 1 SL Green Realty
  • Party 1 Brokerage CBRE
  • Party 1 Broker Darcy Stacom, Bill Shanahan
  • Party 2 CIM Group
notes
The urban real estate and infrastructure fund manager acquired the property for $171 million.
  • Event Sales
  • Address 67 Irving Place
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Square feet 49,125
  • Price $ 34,000,000
  • Publication Date 10/30/2017
  • Event Date 10/24/2017
  • Party 1 Public N.V.
  • Party 2 CIM Group
notes
The real estate fund manager acquired this 12-story property for $34 million that was facing foreclosure.
  • Event Sales
  • Address 111 Montgomery
  • Neighborhood Crown Heights
  • Borough Brooklyn
  • Price $ 29,700,000
  • Publication Date 08/01/2017
  • Event Date 06/29/2017
  • Party 1 LIVWRK
  • Party 2 CIM Group
notes
The urban real estate and infrastructure fund manager bought this property
  • 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 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 Retail Leasing
  • Address 140 West Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 68,400
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
  • Publication Date 02/01/2017
  • Event Date 12/18/2016
  • Party 1 Kushner Properties, CIM Group, LIVWRK
  • Party 2 Criterion Real Estate Capital
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
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
  • 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
  • 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
  • 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
  • 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
  • Event Financing
  • Address 140 West Street
  • Neighborhood Tribeca
  • Borough Manhattan
notes
A $390 million loan was arranged to convert the upper 22 floors of the office building into residential. 32-story
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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...
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