Ekstein Development | TRD Research

Ekstein Development

488 Madison Avenue #1230
New York, NY 10020
(212) 736-4492
Website

Ekstein Development is a real estate development firm founded by Erik Ekstein. Many of the firm's developments have been in Long Island City, including the Foundry and 46-09 11th Street near MOMA PS1.

Eskstein veered from residential development in several cases, such as building the Empire Rehearsal Studios and self-storage locations in Manhattan and Long Island City. In 2008, Ekstein also developed indoor skating rink The City Ice Pavilion in Queens.

The firm also took advantage of Manhattan's High Line park when it developed and leased boutique studios and other retail spaces at the boutique Chelsea Muse in 2011. Ekstein had been active in the Chelsea area at that time, developing 91-unit condo building at 540 West 28th Street and a 30-unit rental building at 537 West 27th Street. Among Ekstein's partners are Westchester County-based L&M Development Partners, with which Ekstein build 520 West 28th Street in Chelsea.

Deal Sheet
Properties
New Development

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Event Financing
Address 30 East 31st Street
Neighborhood Midtown East
Borough Manhattan
Price $ 54,000,000

Publication Date 11/01/2016
Event Date 09/15/2016
Party 1 Ekstein Development Group
Party 2 Centennial Bank

notes

The company secured a $54 million construction loan.

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Event Retail Leasing
Address 545 West 27th Street
Neighborhood Chelsea
Borough Manhattan
Square feet 2,200

Publication Date 09/01/2011
Event Date 07/23/2011
Party 1 Ekstein Development
Party 1 Brokerage Malloy and Company
Party 1 Broker Rafe Evans, Walker
Party 2 Pinch Food Design
Party 2 Brokerage Bernstein Real Estate
Party 2 Broker David Berger

notes

The catering company signed a 10-year lease for ground-floor retail space at the Chelsea Muse development. The reported rent was $70 per square foot.

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Event Office Leasing
Address 520 West 27th Street
Neighborhood Chelsea
Borough Manhattan
Square feet 2,600
Price per foot $ 50.00

Publication Date 10/01/2008
Event Date 08/22/2008
Party 1 Lanca Sales
Party 1 Brokerage Sinvin Real Estate
Party 1 Broker Roxanne Betesh
Party 2 Ekstein Development
Party 2 Brokerage Signature Partners
Party 2 Broker Mark Olezek

notes

The real estate developer signed a two-year lease for space on the fourth floor. The space will be used as a sales office for a new residential development nearby.

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Event Sales
Address 508-510 West 29th Street
Neighborhood Chelsea
Borough Manhattan
Price $ 1,700,000

Publication Date 06/01/2008
Event Date 04/17/2008
Party 1 Brokerage Eastern Consolidated
Party 1 Broker Roberto Ortiz
Party 2 Ekstein Development
Party 2 Brokerage Eastern Consolidated
Party 2 Broker Ben Tapper

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Event Sales
Building Name 508-510 West 29th Street
Address 510 West 29th Street
Neighborhood Chelsea
Borough Manhattan
Square feet 5,478
Price $ 1,700,000
Price per foot $ 310.33

Publication Date 06/01/2008
Event Date 04/22/2008
Party 1 Brokerage Eastern Consolidated
Party 1 Broker Roberto Ortiz
Party 2 Ekstein Development
Party 2 Brokerage Eastern Consolidated
Party 2 Broker Ben Tapper

notes

The air rights were purchased for $1.7 million, or $310 per square foot, and transferred over to another development site at 537-545 West 27th Street. With the additional air rights, a 128,913-square-foot rental and condo apartment building is being built there.