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.


02/14/18
...Motwani and Art Falcone with partners Dan Kodsi, CIM Group and others, continues. The complex includes Paramount Miami Worldcenter, a 562-unit luxury condo tower...

02/09/18
...sold its 25-story office building at 1440 Broadway to CIM Group for $520 million as well. New York REIT declined to comment, and RFR Realty did...

02/07/18
...project to date. According to Macklowe Properties and CIM Group, the milestone puts the supertall ahead of its peers based on the total dollar...

02/02/18
...The two deals that drove that volume were CIM Group’s $171 million buy of SL Green Realty’s 16 Court Square, and RFR Realty and...

02/01/18
...million a year later. The developer, and partner CIM Group, have converted the building into 157 units. Shaoul declined to say how many units were...

01/31/18
...the year by closing the deal - $360 million CIM Group landed a loan from Blackstone Group to complete its $520 million acquisition of New York...

01/26/18
...t have the Blackstone Group’s size or CIM Group’s flashy development portfolio. But the Boston-based firm still managed to quietly emerge as...

01/23/18
...to $85 a square foot. A joint venture of CIM Group, LIVWRK Holdings and Kushner Companies, is renovating the five-building complex in Brooklyn Heights, which...

01/18/18
...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...

01/18/18
...Other notable deals in the fourth quarter included CIM Group’s purchase of 16 Court Street, the tallest office building in Brooklyn, and Cleveland-based Stark...

01/11/18
...sell the 25-story office building at 1440 Broadway to CIM Group for $520 million just a few weeks after selling a 49 percent stake in One Worldwide...


01/08/18
...for Sam Chang’s Chelsea hotel project and CIM Group and LIVWRK’s Crown Heights residential project. Adam America and Vanke US, the local...

01/05/18
...that got carved up by Macklowe Properties and CIM Group in late 2015. That year, Unit 91A, with 3,952 square feet, was listed for $40.25 million (or...

01/03/18
...to be the only woman. For example, when CIM Group negotiated with New York REIT to buy 1440 Broadway in October, three women were leading...

01/02/18
...Olshan Realty. Two penthouses at Macklowe Properties and CIM Group’s 432 Park Avenue took the top spots of the week, with asking prices of...

...to be the only woman. For example, when CIM Group negotiated with New York REIT to buy 1440 Broadway in October, three women were leading...

12/29/17
...sf: 951,000 In August, Kushner Companies and its partners CIM Group and LIVWRK filed plans for an 874,149-square-foot residential building at 85 Jay Street in Brooklyn...

12/29/17
...LinkedIn) 3) 85 Jay Street, Brooklyn Kushner Companies, along with CIM Group and LIVWRK, plan to build a 21-story residential building at 85 Jay Street. The building...

12/29/17
...book publisher Penguin Random House. 8. 1440 Broadway, $520M Buyer: CIM Group Seller: New York REIT Brokerages: Eastdil Secured and CBRE Another weighty asset in New...

12/28/17
...loan to the Crown Heights residential project that CIM Group and LIVWRK have teamed up on. Plans call for a 12-story residential building located...

12/26/17
...The ruling also ordered developers Macklowe Properties and CIM Group to withdraw the building plans if she decided to close, or return her deposit...

12/21/17
...a record sale at the Macklowe Properties and CIM Group building. The Chinese buyer — 432 Park Joy LLC — will take units 92, 92B and 93B with...

12/21/17
...The Hill reported. Los Angeles-based private equity firm CIM Group, which owns the hotel-condominium tower, previously signed a contract to drop its licensing deal...

12/21/17
...CIM Group's Shaul Kuba and 1440 Broadway Los Angeles-based CIM Group landed a $360 million loan to close on its $520 million purchase of 1440 Broadway, one of...
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 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
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 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
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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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