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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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10/17/17
...joint venture between L+M Development Partners and CIM Group are building a pair of 62- and 26-story towers at 260 South Street. Starrett Development...
10/12/17
...Properties’ Jeff Sutton, the Related Companies and the CIM Group, that also includes smaller and midsized firms like Brookland Capital and Delshah Capital, which...
10/12/17
...Barclays and Citigroup provided a $110 million loan to CIM Group for its purchase of the 38-story office tower at 16 Court Street in Downtown Brooklyn...
10/11/17
...partnership between L&M Development Partners and CIM Group, have drawn fierce criticism from community groups. — Kathryn Brenzel...
10/09/17
...has seen significant development interest in recent years. CIM Group recently proposed a 154-unit mixed-use development in West L.A. Alan Casden broke ground...
10/03/17
...At 432 Park Avenue, a generous return policy.
Developers CIM Group and Macklowe Properties have taken the unusual step of buying back an apartment at...
10/02/17
...is getting preferential treatment from 432 Park’s developers — CIM Group and (ahem) Macklowe Properties — since he never received a closing notice even though he...
10/02/17
...purchased the 26-story building from Kushner Companies and CIM Group for $225 million in March 2016, and the company is now partnering with Convene and investment...
10/02/17
...is marketing a penthouse at Macklowe Properties and CIM Group’s 432 Park Avenue for $82 million. “I haven’t seen them for a while --...
09/28/17
...the supertall tower, developed by Macklowe Properties and CIM Group.
Related: Harry shrunk Linda’s pad at 432 Park and made his bigger: suit
Thursday's...
09/26/17
...the luxury supertall condominium developed by Harry and CIM Group, according to the suit.
Linda was to pay $14.4 million for her pad — Unit 78A...
09/25/17
...Boulevard, From left: Richard Coles, Gary Tischler (Credit: CIM Group)
From TRD LA: Vanbarton Group acquired a WeWork-anchored building on the Hollywood Walk of...
09/18/17
...whether or not it contains enough affordable housing. CIM Group also recently entered into a joint-venture development agreement with LIVWRK at 109 Montgomery Street.
This...
09/14/17
...at 432 Park Avenue. Macklowe and his partners paid CIM Group $450 million for the space in 2014 and, according to the court testimony, Macklowe's investment in...
09/14/17
...Irving Place, CIM's Avi Shemesh and Shaul Kuba
CIM Group agreed to buy the Gramercy office building 67 Irving Place out of bankruptcy for $44 million...
09/13/17
...former hotel at 90 Sands Street, and Kushner Companies, CIM Group and LIVWRK are planning a 21-story residential building at the church's former site at...
09/13/17
...and teamed up with the private equity firm CIM Group and LIVWRK.
“We have trouble buying things for a variety of reasons,” he told...
09/11/17
...prompting him to sue developer Harry Macklowe and CIM Group in February to get his $11 million deposit back.
(credit: Sotheby's)
Beckmann Vidal's family has...
09/11/17
...Jay Street, Brooklyn
Kushner Companies, along with partners CIM Group and LIVWRK, wants to build a luxury property in Dumbo that would hold 747 units...
09/07/17
...running out, Macklowe needed a savior. Fund manager CIM Group swept in, buying the defaulted debt at a fat discount, and took over the...
08/31/17
...that same time. Its most high-profile assignment was CIM Group and Harry Macklowe’s 432 Park Avenue.
Elliman was followed by Stribling Marketing Associates at...
08/31/17
...running out, Macklowe needed a savior. Fund manager CIM Group swept in, buying the defaulted debt at a fat discount, and took over the...
08/29/17
...taking shape. The development firm and its partners CIM Group and LIVWRK filed plans to build a 21-story residential property at 85 Jay Street.
As...
08/24/17
...Starrett Corporation and L+M Development Partners and CIM Group’s three projects in the Two Bridges area. The laws could give Chin the...
08/15/17
...partnership between L&M Development Partners and CIM Group want the city to update a 1970s-era special plan so that they can build...
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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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, 51ST STREET MAIN LOT OWNER, LLC
HFZ Capital Group, 51ST STREET MAIN LOT OWNER, LLC
The Halcyon building at 305 East 51st Street barely had time to stretch...
Manhattan, 10016
CIM GROUP, 47 EAST 34 PARTNERS, LP
CIM GROUP, 47 EAST 34 PARTNERS, LP
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, 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...
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SDS PROCIDA DEVELOPMENT GROUP | ANDRE BALAZS, 15 WILLIAM (NY) OWNER, LLC
SDS PROCIDA DEVELOPMENT GROUP | ANDRE BALAZS, 15 WILLIAM (NY) OWNER, LLC
Formerly known as the William Beaver House (and by critics as the Post-It...
Manhattan, 10022
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MACKLOWE PROPERTIES, 56TH AND PARK (NY) OWNER, LLC
432 Park Avenue is a currently under construction, residential skyscraper in Midtown Manhattan....
