Crown Acquisitions | The Real Deal New York

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Crown Acquisitions

767 Fifth Avenue
New York, NY
(212) 563-6400
Website
info@cacq.com

Crown Acquisitions is a major owner and developer of retail properties in New York City, focusing on large redevelopment projects where it helps to add value before the company and its partners sell the assets.

Its major projects in the city have included the acquisition and repositioning of the retail condo at 666 Fifth Avenue, the re-tenanting of Herald Center, the acquisition and repositioning of the retail condo at 717 Fifth Avenue and the acquisition and re-tenanting of 600 Broadway in Soho.

In spring 2013, Crown partnered with Vornado Realty, Oxford Properties and Highgate Holdings to buy the 600,000-square-foot Class A office tower at 650 Madison Avenue for $1.3 billion, the most ever paid to that point on a per-square-foot basis for a U.S. office building. Crown also controls 103 Prince Street, site of the downtown Manhattan Apple store.

The firm has its roots in 1940s retail under Isaac Chera, but it really began to expand in the 1980s under Stanley Chera, Isaac's son. Crown is headquartered at the GM Building in Midtown. Today, the firm is led by Stanley's sons Haim, Ike and Richard Chera.


09/20/17
...sold a 49-percent stake in the retail to Crown Acquisitions and Carlyle Group for $525 million and refinanced the mezzanine debt. Even after that deal...

09/14/17
...to own 450 Park Avenue but sold it to Crown Acquisitions and Oxford Properties Group in 2014 for about $545 million. The Bruckner Building is owned by...

09/12/17
...group — which included Vornado Realty Trust, Oxford Properties, Crown Acquisitions, Highgate and a group of private institutional players — agreed to buy the tower for...

08/24/17
...to close this year on Manhattan office towers. Crown Acquisitions landed a $1 billion refinancing from a trio of lenders for the Olympic Tower, Boston...

07/19/17
...Deutsche Bank, Goldman Sachs and Morgan Stanley provided Crown Acquisitions to refinance the Olympic Tower at 641 Fifth Avenue and a handful of other retail...

06/16/17
...acquisition. 2) Olympia Debitus - $760 million The Chera family's Crown Acquisitions took on a $1 billion refinancing of Midtown's Olympic Tower in May, and $760 million of...

06/14/17
...Morgan Stanley. The borrowers, Oxford Properties Group and Crown Acquisitions, landed a total of $1 billion to refinance the property in May, including an additional...

06/09/17
...Hudson’s Bay Company, Brittany Bragg, COO of Crown Acquisitions, Mary Rottler of Seritage Growth Properties, and moderator David Zoba of the Global Retail...

06/06/17
...Land Institute panel Tuesday. Brittany Bragg, COO of Crown Acquisitions, said certain assumptions about retail have come undone, such as the idea that properties...

06/05/17
...Suitsupply opened its first U.S. store at Crown Acquisitions’ 453 Broome Street in Soho. The chain now has 22 stores in U.S. and more...

05/22/17
...sold three Hamilton Heights rentals for $14 million and Crown Acquisitions bought a five-story walk-up in Washington Heights. 1.) Castellan Real Estate Partners picked up a...

05/22/17
...Wharton Properties, Jeff Winick of Winick Realty Group, Crown Acquisitions...

05/21/17
...as Stanley Chera and his son Haim of Crown Acquisitions were talking shop at a Wynn cabana with A&H Acquisitions' Alex Adjmi...

05/03/17
...Fifth Avenue and Haim Chera (Credit: Getty Images) Crown Acquisitions landed a $1 billion refinancing from Deutsche Bank, Goldman Sachs and Morgan Stanley for the...

05/03/17
...have some, too - $150 million BLDG Management and Crown Acquisitions refinanced their building at 1 West 34th Street with a $150 million loan from Wells Fargo...

04/24/17
...wake of the building’s botched sale to Crown Acquisitions in 2011. For four years the two sides traded lawsuits to determine who controls the...

02/08/17
...prominent recurring borrowers were the Chera family’s Crown Acquisitions and Joseph Sitt’s Thor Equities. East West Bank has a loan portfolio of...

01/31/17
...in the retail portion to Carlyle Group and Crown Acquisitions for $525 million. In 2011, Kushner brought in Vornado Realty Trust as a partner during a...

01/20/17
...The 17,667-square-foot property, which Sutton owns along with Crown Acquisitions and Midtown Equities, is valued at more than $100 million based on Duane Reade’s...

01/17/17
...while a partnership of A&H Acquisitions, Crown Acquisitions and Aurora Capital Associates owns 720 Lexington. American Eagle plans to connect the two spaces...

12/27/16
...a little more than a block north at Crown Acquisitions’ Olympic Tower at 645 Fifth Avenue, at the corner of 51st Street. 6) Hershey, 701 Seventh Avenue...

11/30/16
...hotel retail, owned by Vornado Realty Trust and Crown Acquisitions. The annual starting rent on that deal came up to about $35 million. Also last...

11/10/16
...large retail building in Flushing that's ground-leased to Crown Acquisitions has scored a $47.5 million loan to refinance the property. The loan -- which comes...

11/01/16
...the St. Regis retail condo in partnership with Crown Acquisitions.  Vornado now controls 20 percent of Upper Fifth Avenue’s retail frontage, including flagship stores...

10/24/16
...tower, the building's owners Oxford Properties Group and Crown Acquisitions announced Monday. The lease extends through 2035 at the Olympic Tower, a 51-story mixed-use building...
Isaac Chera, Real Estate Salesperson
767 Fifth Avenue, Suite 2400, New York, NY
...
Crown Acquisitions, Prinicipal
767 Fifth Avenue, New York City, NY, (212) 563-6400
Richard Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, COO
767 5th Avenue, New York City, NY, (212) 563-6400
Brittany Bragg is the chief operating officer of Crown Acquisitions. she was hired...
Crown Acquisitions, Principal
767 5th Avenue, New York City, NY, (212) 563-6400
Isaac Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, Principal
767 Fifth Avenue, New York City, NY, (212) 563-6400
Haim Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, Founder
767 Fifth Avenue, New York City, NY, (212) 563-6400
Stanley Chera is a New York real estate developer and founder of Crown...
  • Event Sales
  • Address 601 West 181st Street
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 25,260
  • Price $ 12,225,000
  • Price per foot $ 483.96
notes
The 14 mix-used unit building was sold for $12.5 million.
  • Event Financing
  • Address 641 Fifth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 760,000,000
notes
The borrower secured a $760 million refinance for the commercial portion of the Olympic Tower and 3 additional properties.
  • Event Financing
  • Address 601 West 181st Street
  • Neighborhood Washington Heights
  • Borough Manhattan
  • Square feet 25,260
  • Price $ 8,100,000
  • Publication Date 06/01/2017
  • Event Date 04/17/2017
  • Party 1 Crown Acquisitions
  • Party 2 East West Bank
notes
The borrower secured a mortgage of $8.1 million from East West Bank.
  • Event Retail Leasing
  • Address 720 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 7,000
notes
The teen lingerie retailer signed a lease.
  • Event Financing
  • Address 661 Eighth Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 17,667
  • Price $ 60,000,000
notes
The retail portion of the property refinanced its debt with $60 million.
  • Event Retail Leasing
  • Address 253 Livingston Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Square feet 4,400
  • Publication Date 02/01/2017
  • Event Date 12/18/2016
  • Party 1 Crown Acquisitions
  • Party 1 Brokerage Crown Acquisitions
  • Party 1 Broker Isaac Mograby
  • Party 2 US Army Corps of Engineers
  • Party 2 Brokerage Bantam Realty Services
  • Party 2 Broker Daniel Rodriguez Sains
notes
The US agency signed a lease.
  • Event Financing
  • Address 15-01 86th Street
  • Neighborhood Bensonhurst
  • Borough Queens
  • Price $ 97,000,000
  • Publication Date 05/01/2016
  • Event Date 03/17/2016
  • Party 1 Crown Acquisitions
  • Party 2 Goldman Sachs
notes
The company secured a $97 million loan and includes 6628 18th Avenue, 38-02 Junction Boulevard and 329 Wyckoff Avenue.
  • Event Financing
  • Address 600 Broadway
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 65,000
  • Price $ 120,000,000
notes
A $120 million loan will replace an existing $72.6 million mortgage on the building.
  • Event Sales
  • Address 522|526 Fulton Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 142,480
  • Price $ 30,000,000
  • Price per foot $ 210.56
  • Publication Date 02/01/2016
  • Event Date 12/23/2015
  • Party 1 BLDG Management
  • Party 2 Crown Acquisitions
notes
The two commercial buildings sold for $30 million.
  • Event Sales
  • Address 136-62 Roosevelt Avenue
  • Neighborhood Flushing
  • Borough Queens
  • Square feet 250,000
  • Price $ 108,400,000
  • Price per foot $ 433.60
notes
The 99-year ground lease was valued at $108.4 million.
  • Event Retail Leasing
  • Address 491 Fulton Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Square feet 1,300
  • Publication Date 01/01/2016
  • Event Date 11/17/2015
  • Party 1 Crown Acquisitions
  • Party 1 Brokerage Crown Acquisitions
  • Party 1 Broker Isaac Mograby, Morris Dabbagh
  • Party 2 Perfumania
notes
The perfume retailer signed a lease for the entire building.
  • Event Sales
  • Address 150 West 34th Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 78,000
  • Price $ 355,000,000
  • Price per foot $ 4,551.28
  • Event Retail leasing
  • Address 458 Fulton Street
  • Neighborhood Seaport
  • Borough Brooklyn
  • Square feet 3,500
  • Publication Date 06/01/2015
  • Event Date 04/22/2015
  • Party 1 Crown Acquisitions
  • Party 1 Brokerage Crown Acquisitions
  • Party 1 Broker Isaac Mograby
  • Party 2 Journeys
  • Party 2 Brokerage True Realty
  • Event Retail leasing
  • Address 490 Fulton Street
  • Neighborhood Seaport
  • Borough Brooklyn
  • Square feet 40,000
  • Publication Date 06/01/2015
  • Event Date 04/22/2015
  • Party 1 Crown Acquisitions
  • Party 2 Forever 21
  • Event Retail Leasing
  • Address 1515 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 2,113
  • Event Retail Leasing
  • Address 452 Fulton Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 4,500
  • Publication Date 03/01/2015
  • Event Date 01/15/2015
  • Party 1 Crown Acquisitions
  • Party 1 Brokerage Crown Retail Services
  • Party 1 Broker Christopher DeCrosta and Isaac Mograby
  • Party 2 Adidas
  • Party 2 Brokerage RKF
  • Party 2 Broker Jeremy Ezra
notes
The clothing company signed a 10-year lease to occupy the ground floor.
  • Event Sales
  • Address 170 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 150,000,000
  • Event Retail Leasing
  • Address 57 Mercer Street
  • Neighborhood SoHo
  • Borough Manhattan
  • Square feet 35,000
notes
The tenant signed a 49-year lease.
  • Event Retail Leasing
  • Address 1584 Flatbush Avenue
  • Neighborhood Flatbush
  • Borough Brooklyn
  • Square feet 810
  • Publication Date 10/01/2014
  • Event Date 08/17/2014
  • Party 1 Brokerage Augenbaum Realty
  • Party 1 Broker Josh Augenbaum
  • Party 2 Vitamin Shoppe
  • Party 2 Broker Crown Acquisitions
notes
The nutritional products retailer signed a lease.
  • Event Sales
  • Address Brooklyn and Staten Island portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 15,000,000
  • Publication Date 06/01/2014
  • Event Date 04/17/2014
  • Party 2 Crown Acquisitions
  • Event Office Leasing
  • Address 530 Fifth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 7,803
notes
The investment adviser signed a five-year lease for the entire 25th floor.
  • Event Retail Leasing
  • Address 370 Canal Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 15,700
notes
The fitness chain signed a lease for a new location.
  • Event Retail Leasing
  • Address 423 West 55th Street
  • Neighborhood Clinton
  • Borough Manhattan
  • Square feet 29,400
  • Publication Date 07/01/2013
  • Event Date 05/22/2013
  • Party 1 Winter Organization
  • Party 1 Brokerage In-house
  • Party 2 Planet Fitness
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Jordan Barker, Ralph Chera
notes
The fitness chain signed a lease for 24,500 square feet on the ground floor and 5,000 square feet on the mezzanine level. The space was previously occupied by Vebo Fitness.
  • Event Retail Leasing
  • Address 25 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 28,576
  • Publication Date 07/01/2013
  • Event Date 05/22/2013
  • Party 1 Wolfson Group
  • Party 1 Brokerage CBRE
  • Party 1 Broker Bruce Surry, Richard Levine, Gary Kamenetsky
  • Party 2 Planet Fitness
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Jordan Barker, Ralph Chera
notes
The fitness chain signed a lease. The space includes 832 square feet on the ground floor, 14,038 square feet in the basement and 13,706 square feet in the sub-basement.
  • Event Sales
  • Address 490 Fulton Street
  • Neighborhood Battery Park City
  • Borough Brooklyn
  • Price $ 62,740,000
  • Publication Date 06/01/2013
  • Event Date 04/17/2013
  • Party 1 Crown Acquisitions
  • Party 2 Harrison Street Real Estate
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...along with his partners the Carlyle Group and Crown Acquisitions) to Zara and Vornado in two separate deals for a combined $1 billion. Kushner and...

...third highest assessment jump. Along with its partner Crown Acquisitions, it saw 647 Fifth Avenue jump 56 percent in value to $69 million. The two partners acquired...

12/30/15
...Forever 21, 40,000 square feet 490 Fulton Street, Downtown Brooklyn Landlord: Crown Acquisitions Stanley Chera and 490 Fulton Street in Downtown Brooklyn Fast-fashion staple Forever 21 will make its...

...retail condominium, owned by Vornado Realty Trust and Crown Acquisitions. It’s unclear how these two leases break down, and the brokers involved weren...

...condo at 666 Fifth Avenue from Stanley Chera’s Crown Acquisitions, the Carlyle Group and Kushner Companies. Given Manhattan’s strong retail position, it doesn...

...Real Capital Analytics from January 2012 through last month. Crown Acquisitions ($2.6B) The review found that the most active buyers in that period, including Crown...

...the brokerage arm of the Chera family’s Crown Acquisitions, did 12 deals in the borough south of 125th Street, totaling more than 123,000 square feet...

...high-profile sale in June of 650 Madison Avenue to Crown Acquisitions and Highgate Holdings for $1.3 billion, or a record per-square-foot price of $2,166, according to CBRE...

...Avenue retail condo — Carlyle Group, Kushner Companies and Crown Acquisitions.   Leading office leases Manhattan office leasing experienced a parallel slowdown in activity. The...

...the St. Regis, top, sold for $380.6 million Sellers: Crown Acquisitions, Lloyd Goldman, Feil Organization, others Address: 2 East 55th Street, 697 Fifth Avenue Total profit: $271.2 million...

...Street (St. Regis Hotel), and 697 Fifth Avenue Landlord: Crown Acquisitions, Goldman Properties and Feil Organization Tenants: De Beers, Emilio Pucci and Bottega Veneta Size...

...building at 496 Fulton Street in Downtown Brooklyn by Crown Acquisitions as part of the revamping of the Fulton Street Mall — helped boost Brooklyn’s...

...has an option for a third, he said. Crown Acquisitions Stanley CheraReal estate investor Stanley Chera, alone or through his Crown Acquisitions, participated in...
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