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.


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...

04/17/17
...represented Ben Shaoul’s Magnum Real Estate and CIM Group in a 68,400-square-foot lease with Marshalls department store at 140 West Street. He and Stone...

03/28/17
...Park Avenue, the supertall condominium he developed with CIM Group. City records show that Macklowe closed on the retail space deal in June 2016 with...

03/27/17
...was on an apartment at Macklowe Properties and CIM Group’s 432 Park Avenue, asking $44.2 million. Apartment 80B spans 5,421 square feet and features four bedrooms...

03/27/17
...year. The fund manager backed Kushner Companies and CIM Group’s acquisition of the Watchtower building in Dumbo with a $376 million loan in partnership...

03/22/17
...in the Flatiron District from Sapir Organization and CIM Group was the most expensive single-building deal in the city to date. SL Green paid...

03/21/17
...partnership between L+M Development Partners and the CIM Group) to allow more time for the community to weigh in on their proposed collective...

03/16/17
...by closings at developments like Macklowe Properties and CIM Group’s 432 Park Avenue and Extell Development's One57. Last year -- for the first time...

03/14/17
...funds have been active lenders, backing projects like CIM Group, LIVWRK and Kushner Companies’ acquisition of the Watchtower office building in Dumbo. The Real...

03/14/17
...From left: 35 Claver Place, CIM Group...

03/07/17
...stake in Los Angeles-based real estate investment firm CIM Group. Another Japanese conglomerate, ASO Group, made a splash by purchasing one of L.A...

02/20/17
...stake in Los Angeles-based real estate investment firm CIM Group, it announced Monday. Mitsui (Note: Correction appended) will also contribute between $450 and $550 million toward...

02/16/17
...City developers such as Related Companies, Silverstein Properties, CIM Group and Forest City Ratner have spent big bucks lobbying Congress to reauthorize EB-5. Related...

02/15/17
...to do what they do. Firms like Blackstone , CIM Group and Carlyle Group had a field day between 2009 and 2011, when no one seemed to...

02/14/17
...program include Forest City Ratner, Silverstein Properties, and CIM Group...

02/10/17
...managers like Lone Star, the Blackstone Group and CIM Group have expanded in recent years, filling the void left by retreating banks amid stricter...

02/09/17
...estimated $2.4 billion, he is suing Macklowe Properties and CIM Group to recoup an $11.56 million deposit on the property, which he did not close on...

02/09/17
...Group's 247 Cherry Street and L+M Development and CIM Group...

02/07/17
...Last week, the apartment at the Related Companies, CIM Group and HFZ Capital Group-developed property was reduced by $5.5 million, or 17 percent. The 6,620-square-foot apartment...

02/02/17
...filed suit against the pricey project’s developers, CIM Group and Macklowe Properties, to get their $11.56 million deposit back, claiming that a massive water...

01/30/17
...a two-skyscraper residential development in Two Bridges with CIM Group, with 25 percent of the units in the 730 and 800 foot towers pledged affordable. A 59-story...

01/30/17
...top contract was for a 4,000-square-foot pad at CIM Group and Macklowe Properties’ condominium tower 432 Park Avenue. Apartment 37A was asking $17.7 million, or roughly...

01/23/17
...The mystery buyer of a $46.25 million apartment at CIM Group and Macklowe Properties’ condominium tower 432 Park Avenue is suing to get her or his...

01/20/17
...him as a diligent worker and skilled negotiator. CIM Group...

01/19/17
...after the property was sold. Nazarian instead favored CIM Group, another partner on the project, because it offered the hotelier lucrative management contracts at...
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 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 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 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
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Trump Soho is a 46-story condo-hotel at 246 Spring Street in its namesake...
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Just a few blocks from the Holland Tunnel, the corner property at 72...
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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, 10013
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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
432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan....
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