CIM Group | The Real Deal New York

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.


01/11/19
...the listing. Last year, developers Macklowe Properties and CIM Group said sales at the super-tall surpassed $2 billion. But as the luxury market has cooled...

01/10/19
...members by summer. The building’s landlord is CIM Group. 4) Blackstone, 345 Park Avenue, Midtown East - 148,587 square feet The investment firm expanded its lease...

01/04/19
...pool of buyers. In late 2015, Macklowe Properties and CIM Group reluctantly split several full-floor units at 432 Park Avenue. So did the developers of 10 Sullivan...

01/03/19
...Images) A sponsor unit at Macklowe Properties and CIM Group’s 432 Park Avenue just closed for $29.5 million — a hefty discount from its last asking...

01/02/19
...activity. Across the street, Golub & Company and CIM Group are working on a massive redevelopment of the Tribune Tower, including the construction of...

12/31/18
...week was a unit at Harry Macklowe and CIM Group’s 432 Park Avenue, the 10th time of the year that the building had the...

12/27/18
...Buyers at 100 Barclay Street — Magnum Real Estate and CIM Group’s 157-unit condo that launched in 2015 — have been anxious to see the building sold...

12/25/18
...in 432 Park’s retail, which he bought from CIM Group for $411.1 million in 2016. At 200 East 59th, Harry invested $6.9 million for a 10 percent stake, and...

12/24/18
...the same week last December. Harry Macklowe and CIM Group’s 432 Park claimed the week’s priciest contract for the ninth time this year...

12/20/18
...at 1440 Broadway, WeWork and the building's owner, the CIM Group, announced Thursday. WeWork will occupy floors 14 through 21 of the 25-story office building, which is...

12/17/18
...separately by early investors at Macklowe Properties and CIM Group’s supertall. Unit 77A, purchased for $19.6 million in 2016, was listed for $23 million. Unit 77B...

12/14/18
...Harry sold his interest in the project to CIM Group. CIM, in turn, hired Citibank to bring in additional investors in order to complete...

12/08/18
...tower at 247 Cherry Street; L+M Development and CIM Group’s 798-foot tower at 260 South Street; and Starrett Corporation’s 730-foot building at 259 Clinton...

12/07/18
...Park Avenue sold for $15 million. Apartment 41C at CIM Group and Macklowe Properties’ project closed this week, according to records filed with New York...

12/07/18
...between Ron Moelis’ L+M Development Partners and CIM Group filed plans for three developments along the East River in Two Bridges that would...

12/05/18
...tower at 247 Cherry Street; L+M Development and CIM Group’s 798-foot tower at 260 South Street; and Starrett Corporation’s 730-foot building at 259 Clinton...

11/26/18
...if Vidal and the developers, Harry Macklowe and CIM Group, reached an out-of-court agreement. Neither Vidal’s attorney nor attorneys for the developers returned...

11/22/18
...and teamed up with the private equity firm CIM Group and LIVWRK. “We have trouble buying things for a variety of reasons,” he told...

11/20/18
...biggest lease transaction in the batch is at CIM Group...

11/13/18
...the coming years as Golub & Company and CIM Group plan a massive overhaul of the former Tribune Tower complex, which would include construction...

10/26/18
...its failed bid for Kushner Companies, LIVWRK, and CIM Group...

10/24/18
...announced it would open a new location at CIM Group’s 5 Hanover Square...

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...
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 1440 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 236,000
  • Publication Date 12/23/2018
  • Event Date 12/20/2018
  • Party 1 CIM Group
  • Party 2 WeWork
notes
The co-working firm signed a lease for the Midtown location.
  • Event Office Leasing
  • Address 67 Irving Place
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 51,050
  • Publication Date 12/03/2018
  • Event Date 11/20/2018
  • Party 1 CIM Group
  • Party 1 Brokerage CIM Group
  • Party 2 WeWork
  • Party 2 Brokerage WeWork
  • Party 2 Broker Arash Gohari
notes
The co-working firm signed a lease for the Gramercy space.
  • Event Office Leasing
  • Address 5 Hanover Square
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 7,105
  • Publication Date 11/19/2018
  • Event Date 11/14/2018
  • Party 1 CIM Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker Brad Gerla, Adam Leshowitz, Michael Rizzo and Robert Wizenberg
  • Party 2 National General Insurance
  • Party 2 Brokerage Newmark Knight Frank
  • Party 2 Broker Alex Radmin
notes
The insurance company inked a lease for the Financial District space.
  • 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
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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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