Edison Properties | The Real Deal New York

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Edison Properties

100 Washington Street
Newark, NJ 07102
(973) 643-7700
Website
Edison-Properties

Edison Properties is a Newark, New Jersey-based, privately held and family-run real estate development and holding company, founded in 1956 by Jerry Gottesman. The company's portfolio, estimated to be worth $4 billion, includes properties in New York City, New Jersey and Baltimore, Maryland, and encompasses Edison ParkFast-branded parking lots and garages and Manhattan Mini Storage facilities. The value of those parking and storage facilities has skyrocketed over the decades Edison has owned them, as New York and other cities flourished following years of decline. This fact has prompted Edison to sell off or redevelop some long-held sites for higher-income-generating uses, such as residential, hotel, office and retail. In 2014, Edison Properties sold a parking lot site next to the High Line for $870 million that the firm had bought in the 1980s for $2.4 million. However, as of 2015, family members were in conflict on whether to take profits by selling properties, developing them in-house, alone or in partnership, or do nothing.


12/10/18
...MAG has inked a 99-year ground lease for Edison Properties...

07/27/18
...and an agent for the building’s developer, Edison Properties. Also at the property will be Edison itself, which will occupy 40,000 square feet when...

...and an agent for the building’s developer, Edison Properties. Also at the property will be Edison itself, which will occupy 40,000 square feet when...

04/20/18
...the site from an investment group led by Edison Properties in 2015 for $870 million. “We minimized the width of the tower on the river, on...

04/11/18
...at Brookfield Place in 2014. And his team represented Edison Properties, where employment website Indeed took 125,000 square feet at 1120 Sixth Avenue. At Tishman, Field will...

02/16/18
...lawsuit between Lam Generation and a partnership between Edison Properties and the Kaufman Organization. The dispute was over access to 119 West 24th Street. Lam...

12/20/17
...century, including Glenwood Management’s Leonard Litwin and Edison Properties’ Jerry Gottesman, while others like developer Lou Ceruzzi and the Corcoran Group’s Ric...

12/14/17
...The landlord, Hippodrome Land Compa, a subsidiary of Edison Properties, represented itself in-house. 8) Booking.com, 28 Liberty Street, Financial District - 53,000 square feet The travel...

...century, including Glenwood Management’s Leonard Litwin and Edison Properties’ Jerry Gottesman, while others like developer Lou Ceruzzi and the Corcoran Group’s Ric...

10/05/17
...organization owns the leasehold for 23rd Street, and Edison Properties owns the land. Chang, who runs Great Neck-based McSam Hotel Group, is set to...

09/11/17
...Jerry Gottesman, who as co-founder and chairman of Edison Properties parlayed a single Newark parcel into a multibillion-dollar storage and property empire, died Sunday...

08/30/17
...sold the fee position on the property to Edison Properties for $38.8 million. While ground leases provide buyers with a chance to own real estate...

...station. The development team is made up of Edison Properties, J&L Companies and Prudential. Before the project kicks into gear, the city...

05/09/17
...The firm paid an investment group led by Edison Properties $870 million, or $1,100 per buildable square foot, for the site at 76 11th Avenue, between West...

02/17/17
...UPDATED, Feb. 17, 6:09 p.m.: Lam Generation is fighting Edison Properties and the Kaufman Organization to continue building a $120 million Marriott International hotel in Chelsea...

02/06/17
...of Mulberry Commons in Newark and Jerry Gottesman Edison Properties chairman Jerry Gottesman, who once implored New York City to tear down the High...

...square feet of development rights. And New Jersey-based Edison Properties owns a mini-storage facility along the water at 220 South Street, west of the Manhattan...

11/15/16
...set to open a 50,000-square-foot luxury cineplex at Edison Properties...

11/10/16
...purchase of roughly 150,000 square feet of rights from Edison Properties for $64.6 million, or about $438 per square foot, for its development site at 80 South Street...

09/19/16
...Extell Development and sold to Newark, New Jersey-based Edison Properties in September 2015, property records show. Extell also sold the ground lease to the 12-story...

01/22/16
...disputed claims among opponents that Nislick, a former Edison Properties chief executive, sees the horse stables as a potential real estate opportunity. “Under no...

12/30/15
...th Street, $870 million Buyer: HFZ Capital Group Seller: Edison Properties Ziel Feldman's firm closed on this 76,000-square-foot High Line-adjacent site, also known as 76 Eleventh...

12/29/15
...from a four-story commercial building at 620 12th Avenue. Edison Properties purchased the 103,000-square-foot building for $55 million in October...

12/08/15
...at those buildings – which Extell recently sold to Edison Properties, as The Real Deal also reported – now run in the mid-$60s to mid-...

11/09/15
...Online job search engine Indeed is moving to Edison Properties’ Hippodrome Building in Midtown, where it is taking around 125,000 square feet of office space...
  • Event Financing
  • Address 2341-2351 12th Avenue
  • Neighborhood Manhattanville
  • Borough Manhattan
  • Square feet 167,000
  • Price $ 16,800,000
  • Publication Date 11/20/2017
  • Event Date 11/15/2017
  • Party 1 Edison Properties
  • Party 2 Prudential Insurance Company
notes
The owner acquired two loans for $16.8 million for two storage warehouses.
  • Event Financing
  • Address 541 West 29th Street
  • Neighborhood West Chelsea
  • Borough Manhattan
  • Square feet 213,330
  • Price $ 39,300,000
  • Publication Date 11/20/2017
  • Event Date 11/15/2017
  • Party 1 Edison Properties
  • Party 2 Prudential Insurance Company
notes
The owner acquired a $39.3 million mortgage for a Mini Sttorage.
  • Event Retail Leasing
  • Address 400 East 62nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 50,000
notes
The Mexico-based filmhouse signed a lease for its first location.
  • Event Retail Leasing
  • Address 400 East 62nd Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 50,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Edison Properties
  • Party 1 Brokerage CBRE
  • Party 1 Broker Michael Kadosh, Jess Wolff
  • Party 2 Cinemex
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Jeff Roseman, Mark Frankel
notes
The movie theater will cover six floors.
  • Event Office Leasing
  • Address 1120 Sixth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 40,000
notes
The company signed a lease for a smaller office space.
  • Event Office Leasing
  • Address 1120 Sixth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 125,000
notes
The job search website signed a lease.
  • Event Office Leasing
  • Building Name Hippodrome Building
  • Address 1120 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 22,818
  • Event Office Leasing
  • Building Name Hippodrome
  • Address 1120 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 96,350
notes
The fashion company signed a long-term lease to consolidate its menswear division into one location, the New York Post reported. The tenant, which has offices at 1114 Sixth Avenue and 42 West 39th Street, signed a direct lease with the landlord for 40,000 square feet and subleased 56,350 square feet from Huron Consulting. The sublease will convert to a direct lease after several years, according to the Post.
  • Event Retail Leasing
  • Address 5030 Broadway
  • Neighborhood Inwood
  • Borough Manhattan
  • Square feet 6,450
  • Publication Date 09/01/2012
  • Event Date 07/23/2012
  • Party 1 Brokerage Edison Properties
  • Party 1 Broker Lenny Lazzarino, Justin Miller
  • Party 2 JBFSC
  • Party 2 Brokerage Pura Vida Enterprises
  • Party 2 Broker Robert Carrillo, A. Diggle
notes
The tenant signed a retail lease. The reported asking rent was $45 per square foot.
  • Event Retail Leasing
  • Address 5030 Broadway
  • Neighborhood Inwood
  • Borough Manhattan
  • Square feet 15,000
notes
The school leased retail space. The reported asking rent was $45 per square foot.
  • Event Retail Leasing
  • Address 5030 Broadway
  • Neighborhood Inwood
  • Borough Manhattan
  • Square feet 3,100
  • Publication Date 09/01/2012
  • Event Date 07/23/2012
  • Party 1 Brokerage Edison Properties
  • Party 1 Broker Lenny Lazzarino, Justin Miller
  • Party 2 Royal Drug Pharmacy
  • Party 2 Brokerage Edison Properties
  • Party 2 Broker Lenny Lazzarino, Justin Miller
notes
The pharmacy signed a lease.
  • Event Office Leasing
  • Address 131 Varick Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 500
  • Publication Date 02/01/2011
  • Event Date 12/23/2010
  • Party 1 Edison Properties
  • Party 1 Brokerage Workspace Office Studios
  • Party 1 Broker Katherine Liskowicz
  • Party 2 Tower Park
  • Party 2 Brokerage NYCRS
  • Party 2 Broker Tim Parkkila
notes
The real estate development company signed a three-year lease.
  • Event Sales
  • Address 203 Jay Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Price $ 17,600,000
  • Event Office Leasing
  • Building Name Hippodrome
  • Address 1120 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 10,000
notes
HBO takes space on the 17th floor.
  • Event Office Leasing
  • Building Name Hippodrome
  • Address 1120 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 46,000
  • Publication Date 03/01/2006
  • Event Date 01/20/2006
  • Party 1 Edison Properties
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Augustus Field
  • Party 2 Federated Department Stores
notes
Federated takes space on the 12th and 20th floors.
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