Equity Residential | The Real Deal New York

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Equity Residential

230 West 41st Street, 12th Floor
New York, NY 10018
Website

Equity Residential, a real estate investment company, is one of the largest apartment owners in the United States. It was started in the 1960s by Bob Lurie and Sam Zell at the University of Michigan, where they managed student apartments. Equity joined the New York Stock Exchange in 1993 and the S&P 500 in 2001. Equity's president and CEO is David Neithercut.

In 2011, Equity made headlines for going in on a $134 million development site at 400 Park Avenue South with homebuilder Toll Brothers. It was the most expensive development site deal of that year. The condominium project at 400 Park Avenue South is called Sky Couture. The year after, Equity made a joint purchase with AvalonBay Communities of $6.5 billion for Archstone's apartment building portfolio, then Lehman Brothers' largest remaining asset; following the 2008 financial crisis.

Equity's founder, Sam Zell, had a net worth of $4 billion as of 2013.


04/21/17
...tower it’s developing with Sam Zell’s Equity Residential. This past December, Toll brought on a partner, Gemdale Properties, at its 133-unit condo...

03/27/17
...was gloomy in late January when rental giant Equity Residential faced investors during an earnings call. Rents were falling and concessions were rising — all...

03/21/17
...place on the list. Not far behind is Equity Residential founder Sam Zell, whose $5 billion earned him 324th place on the international list. Hartz...

03/03/17
...was gloomy in late January when rental giant Equity Residential faced investors during an earnings call. Rents were falling and concessions were rising — all...

02/22/17
...to wane, but demand remains relatively high. The Equity Residential founder and chairman told Bloomberg that people are still attracted to what he calls...

02/20/17
...to “dump the Trump name."  The following month, Equity Residential removed the Trump signage at three of its Upper West Side buildings.  -- Miriam...

02/08/17
...without actually lowering rents. Last week, apartment landlord Equity Residential said rental revenues at its New York buildings fell by 3.1 percent in 2016 and could...

02/03/17
...it’s had a very aggressive immigration policy,” Equity Residential founder Sam Zell said at a conference in Florida earlier this week. “I think...

02/03/17
...bought the 38-story RiverTower from Sam Zell’s Equity Residential for $390 million. The Rockpoint Group bet on Downtown, with the $430 million purchase of two...

02/02/17
...States. Speaking at a conference in Florida, the Equity Residential founder, whose Polish parents immigrated to the U.S. four months before he was...

02/01/17
...David Santee and 140, 160 and 180 Riverside Boulevard Equity Residential...

02/01/17
...dramatically, according to Miller Samuel data. Apartment landlord Equity Residential said this week that same-store profits at its New York apartment buildings fell 3.1 percent...

12/29/16
...the $9.5 million deposit it says it paid to Equity Residential earlier this year. According to the filing, MADDD West 38 LLC entered contract in March...

12/14/16
...Development, which immediately flipped the rental buildings to Equity Residential. Extell’s Gary Barnett told the Post that the firm never owned the streets...

11/17/16
...New York (@NBCNewYork) November 16, 2016 "Trump Place" no more. Equity Residential made good on its promise to change the name of three Upper West Side...

11/15/16
...this week, according to an email from landlord Equity Residential. “The purpose of this change is to assume a neutral building identity that appeals...

11/10/16
...is the lackluster performance of major apartment REITs: Equity Residential fell 2.03 percent and AvalonBay fell 1.92 percent. Another piece of bad news for the real...

10/26/16
...West 37th Street (inset: Sam Zell) Equity Residential downgraded its outlook for its New York City rental portfolio, saying revenue growth may...

10/24/16
...Airbnb is having with major residential landlords, including Equity Residential, AvalonBay Communities and Camden Property Trust. In December, the landlords and Airbnb were discussing...

10/21/16
...s name but have actually been owned by Equity Residential since 2005. StreetEasy’s price index for 16 Trump-brand apartment buildings rose 5.4 percent to $1.674 million over...

10/13/16
...Lawrence Street Equity Residential agreed to pay $250,000 in rent credits to overcharged tenants of a Downtown Brooklyn apartment...

10/11/16
...One rental giant on board is Sam Zelll's Equity Residential, which owns 80,000 units mainly in coastal cities, and is piloting the program in San...

08/24/16
...growth rate would be of concern.” Tenants at Equity Residential’s 259-unit rental building at 400 West 37th Street sued their landlord earlier this month...

08/23/16
...feature lower ceilings and structural columns. Last week, Equity Residential founder Sam Zell told Bloomberg that too much office space is flooding the market...

08/17/16
...Sam Zell Equity Residential founder Sam Zell says supply and demand in the office market have fallen out...
Equity Residential, Chairman
230 West 41st Street, 12th Floor, New York, NY, (646) 833-3960
Sam Zell is the chairman of Chicago-based Equity International Group and Equity Residential....
  • Event Retail Leasing
  • Address 750 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 950
notes
The pharmacy signed a lease.
  • Event Office Leasing
  • Address 750 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 750
notes
Eastern Consolidated
  • Event Sales
  • Address 239 North 9th Street
  • Neighborhood Williamsburg
  • Borough Brooklyn
  • Square feet 68,000
  • Price $ 80,000,000
  • Price per foot $ 1,176.47
notes
The multifamily residential building sold for $80 million.
  • Event Sales
  • Address 420 East 54th Street
  • Neighborhood Sutton Place
  • Borough Manhattan
  • Square feet 413,233
  • Price $ 390,000,000
  • Price per foot $ 943.78
notes
The 37-story multifamily residential building sold for $390 million.
  • Event Retail Leasing
  • Address 724 Second Avenue
  • Neighborhood Murray Hill
  • Borough Manhattan
  • Square feet 9,750
  • Event Retail Leasing
  • Address 101 West End Avenue
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 10,030
notes
The religious school leased retail space.
  • Event Retail Leasing
  • Address 800 Sixth Avenue
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 1,000
  • Publication Date 03/01/2014
  • Event Date 01/20/2014
  • Party 1 Equity Residential
  • Party 1 Brokerage SCG Retail
  • Party 1 Broker Brad Cohen
  • Party 2 Blo Dry Bar
  • Party 2 Brokerage Global Realty Advisors
  • Party 2 Broker Deborah Hildreth, Jeff Loren
notes
The hair salon signed a 10-year lease.
  • Event Retail Leasing
  • Address 500 West 23rd Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 10,000
notes
The drugstore signed a lease for another location.
  • Event Sales
  • Address 175 Kent Avenue
  • Neighborhood Greenpoint
  • Borough Brooklyn
  • Price $ 76,000,000
  • Event Sales
  • Address 400 Park Avenue South
  • Neighborhood NoMad
  • Borough Manhattan
  • Square feet 400,000
  • Price $ 134,000,000
  • Price per foot $ 335.00
notes
The development site sold for $134 million. The joint venture plans to build a 40-story condominium and rental apartment tower. Equity Residential will own and operate the lower 22 floors with 265 rental apartments and retail, and Toll Brothers will build and sell about 100 condo units on the upper floors, the Wall Street Journal reported.
  • Event Sales
  • Address 170 Amsterdam Avenue
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 20,700
  • Price $ 76,500,000
  • Price per foot $ 3,695.65
notes
Equity Residential signed a 99-year lease with the intention of building apartments with retail at the stalled site, the New York Post reported. The deal was valued at $76.5 million.
  • Event Sales
  • Address 10th Avenue and West 23rd Street
  • Borough Manhattan
  • Price $ 11,250,000
  • Publication Date 03/01/2010
  • Event Date 01/20/2010
  • Party 1 Shaya Boymelgreen
  • Party 2 Equity Residential
notes
Equity Residential purchased Shaya Boymelgreen's interest in the development site, paying $11.25 million for the property's long-term ground lease. Equity also paid $750,000 to take control of the land from other stakeholders.
  • Event Sales
  • Building Name 420 East 54th Street, 305 West 50th Street and 777 Sixth Avenue
  • Address 777 Sixth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Price $ 475,000,000
notes
Sam Zell's Equity Residential closed on its purchase of 420 East 54th Street and 777 Sixth Avenue and is in contract for 305 West 50th Street, in a transaction worth a combined $475 million. The property at 420 East 54th Street, also known as the Rivertower, has a gross income of $21.5 million and $66 million in debt; 777 Sixth Avenue has $13.9 million in gross income and around $80 million in debt; and 305 West 50th Street, also known as the Longacre House, has $14.2 million in gross income and about $80 million in debt.
  • Event Sales
  • Address 420 East 54th Street, 305 West 50th Street, 777 Sixth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 475,000,000
  • Event Sales
  • Address 238 West 71st Street
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 325,000
  • Price $ 178,000,000
  • Price per foot $ 547.69
notes
The Chicago-based REIT purchased a total of four apartment buildings for $178 million. The properties are located at 228 West 71st Street, 238 West 71st Street, 41 West 86th Street and 52 West 77th Street.
  • Event Sales
  • Address Upper West Side portfolio
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 178,000,000
  • Publication Date 08/01/2007
  • Event Date 06/17/2007
  • Party 1 Portnof Realty Corporation
  • Party 2 Equity Residential
  • Event Sales
  • Building Name London House
  • Address 420 East 80th Street
  • Neighborhood Yorkville
  • Borough Manhattan
  • Square feet 137,238
  • Price $ 62,000,000
  • Price per foot $ 451.77
notes
The building sold for $62 million.
  • Event Retail Leasing
  • Address 180 Riverside Boulevard
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 20,000
notes
Tenant operates five grocery stores in the metro area.
  • Event Sales
  • Address 600 Washington Street
  • Neighborhood West Village
  • Borough Manhattan
  • Price $ 75,000,000
notes
The building, which was built two years ago and has 7,900 square feet of retail space, sold for $75 million.
  • Event Sales
  • Building Name Trump Place
  • Address 180 Riverside Boulevard
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Price $ 816,000,000
notes
1,325 units total; sold for $816 million.
  • Event Sales
  • Address Trump Place
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 816,000,000
  • Event Sales
  • Address 71 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 100,000,000
notes
Sam Zell REIT~~#s first buy Downtown
  • Event Sales
  • Building Name Hudson Crossing
  • Address 400 West 37th Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Price $ 90,000,000
notes
Sam Zell REIT makes buy
Manhattan, 10016
Toll Brothers, TOLL PARK AVENUE SOUTH LLC
...
Manhattan, 10001
EQR-BEATRICE A, LLC
...
Manhattan, 10025
KEW WEST CONDOMINIUM
...
Manhattan, 10006
EQR-71 BROADWAY A, L.
...
Manhattan, 10016
EQR-400 PAS, LLC
...
Brooklyn, 11211
Fortis Property Group, FPG 237-263 NORTH 9TH PROPERTY LLC
...
Brooklyn, 11211
Fortis Property Group, FPG 237-263 NORTH 9TH PROPERTY LLC
...
Manhattan, 10023
EQR-228 WEST 71ST, LL
...
Manhattan, 10023
EQR-228 WEST 71ST, LL
...
Brooklyn, 11201
Clarett Group, LAWRENCE STREET PROPERTIES LLC
...
Manhattan, 10018
Joy Construction, EG WEST 37TH LLC C/O GEMSTONE PR
...
Manhattan, 10024
EQR-41 WEST 86TH, LLC
...
Manhattan, 10014
EQR-600 WASHINGTON, L
...
Manhattan, 10011
Equity Residential, EQUITY RESIDENIAL
...
Manhattan, 10024
EQR-50 WEST 77TH, LLC
...
Manhattan, 10075
LEXFORD PROPERTIES, L
...
Manhattan, 10019
ASN FOUNDRY LLC
...
Manhattan, 10018
EQR-HUDSON CROSSING A
...
Manhattan, 10025
ASN WESTMONT LLC
...
Manhattan, 10028
TISHMAN SPEYER ARCHST
...
Manhattan, 10016
ASN SONOMA, LLC
...
Manhattan, 10001
777 SIXTH AVENUE OWNE
...
Manhattan, 10019
PURCEL WOODWARD ANDAM
...
Manhattan, 10001
ASN ASTON LLC
...
Manhattan, 10016
240 EAST 27TH STREET OWNER LLC
...
Manhattan, 10069
EQR - 140 RIVERSIDE F
...
Manhattan, 10017
ASN MURRAY HILL LLC
...
Manhattan, 10022
Slate Property Group, GO RIVER TOWER, LLC
...
Manhattan, 10069
EQR - 160 RIVERSIDE I
...
Manhattan, 10069
EQR-180 RIVERSIDE H,
...
Manhattan, 10069
ASN WEST LLC
...
Manhattan, 10023
Equity Residential, LAWRENCE DOWNTOWN HOLDINGS, LLC
...

...some $250 million from its more than 8,700 apartment units. Equity Residential and TF Cornerstone came in third and fourth on the NOI ranking. Blackstone, factoring...

...few months Ash closed two big off-market deals: Equity Residential’s $280 million purchase of JD Carlisle Development’s 301-unit rental the Beatrice at 105 West...

...Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted their purchases of distressed properties in New York City. Brokers have lauded...
Manhattan, 10016
Toll Brothers, TOLL PARK AVENUE SOUTH LLC
...
Brooklyn, 11211
Fortis Property Group, FPG 237-263 NORTH 9TH PROPERTY LLC
...
Brooklyn, 11211
Fortis Property Group, FPG 237-263 NORTH 9TH PROPERTY LLC
...
Manhattan, 10018
Joy Construction, EG WEST 37TH LLC C/O GEMSTONE PR
...
Manhattan, 10011
Equity Residential, EQUITY RESIDENIAL
...
Manhattan, 10022
Slate Property Group, GO RIVER TOWER, LLC
...
Manhattan, 10023
Equity Residential, LAWRENCE DOWNTOWN HOLDINGS, LLC
...
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