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.


08/02/18
...and Saint-Gobain, a French manufacturer of construction materials. Equity Residential is Navitas’ fourth limited partner, or LP. Navitas’ founders come from real estate and...

08/02/18
...of CBRE, Prologis, Hines, Lennar Corp., Host Hotels, Equity Residential and Macerich Properties. By partnering with established real estate firms, Fifth Wall was suddenly...

...and Saint-Gobain, a French manufacturer of construction materials. Equity Residential is Navitas’ fourth limited partner, or LP. Navitas’ founders come from real estate and...

...of CBRE, Prologis, Hines, Lennar Corp., Host Hotels, Equity Residential and Macerich Properties. By partnering with established real estate firms, Fifth Wall was suddenly...

07/26/18
...Sam Zell, 101 West End Avenue and Steve Benjamin Equity Residential is in contract to sell an Upper West Side apartment building to a joint...

06/21/18
...CBRE, Prologis, Hines, Lennar, Host Hotels & Resorts, Equity Residential and Macerich Properties. Founded last year by Blackstone Group alumni Brendan Wallace and Brad...

06/07/18
...manufacturing, transportation and health care. As of December, Equity Residential, the REIT he chairs, owned (or had a stake in) 300-plus properties with more...

05/24/18
...CBRE, Prologis, Hines, Lennar, Host Hotels & Resorts, Equity Residential and Macerich. In February, Industrious, another flexible workspace provider taking on WeWork, announced that...

...Zell, billionaire chairman of Equity International Group and Equity Residential, described the retail sector as “still a falling knife.” And that seems an apt...

05/07/18
...executive vice president and chief financial officer at Equity Residential. According to a 2016 Bisnow profile, Sam Zell recruited her in spite of her lack...

04/23/18
...C-suite at other REITS, like Macerich Company and Equity Residential, had salaries ranging from $8 million to $13 million, records show. Home appraiser Real estate appraisers...

04/04/18
...The 300-unit complex had been owned by Brooklyn-based Equity Residential, which recently sold an Upper East Side apartment building for more than $85 million. CBRE...

04/04/18
...The 300-unit complex had been owned by Brooklyn-based Equity Residential, which recently sold an Upper East Side apartment building for more than $85 million. CBRE's...

03/26/18
...and 420 East 80th Street (Credit: Getty Images and Equity Residential) In 2016, Sam Zell said, “It’s very hard not to be a seller.” Although...

03/26/18
...Chicago Police Department) A Cook County prosecutor said Equity Residential COO David Santee brought a loaded handgun to a TSA checkpoint at O’Hare...

03/22/18
...Zell, the chairman of Equity International Group and Equity Residential told Bloomberg. With more retail space per person than any other country, the United...

03/22/18
...has concerned some industry players. Earlier this year, Equity Residential Chairman Sam Zell mused: “This whole millennial thing is a bunch of bullshit.” Speaking...

03/20/18
...Zell. The chairman of Equity International Group and Equity Residential discussed the state of the industry Tuesday morning on Bloomberg Daybreak, where he described...

02/27/18
...CBRE, Prologis, Hines, Lennar, Host Hotels & Resorts, Equity Residential and Macerich. Since then, the Los Angeles-based fund manager has invested in online home...

02/09/18
...of the week. Boston Properties was down 4 percent, Equity Residential down 6.2 percent and SL Green Realty down 6.9 percent. The U.S. stock market overall...

02/01/18
...Neithercut Amid a glut in available rental properties, Equity Residential reported a decrease in rental income in New York City — the public company's only...

01/31/18
...number of real estate firms did not participate — Equity Residential, Vornado Realty Trust, Boston Properties, General Growth Properties and Simon Property Group, to name...

01/24/18
...in property tech startups. CBRE, Prologis, Hines, and Equity Residential are among its investors. Fifth Wall invests in startups that have technology its clients...

01/23/18
...comparable companies, such as Rexford Industrial Realty and Equity Residential, made at least $2 million. Douglas Emmett did not respond to a request for comment...

...number of real estate firms did not participate — Equity Residential, Vornado Realty Trust, Boston Properties, General Growth Properties and Simon Property Group, to name...
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 71 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 2,206
  • Publication Date 05/07/2018
  • Event Date 05/03/2018
  • Party 1 Equity Residential
  • Party 1 Brokerage Winick Realty Group
  • Party 1 Broker Matthew Schuss
  • Party 2 European Wax Center
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Hal Shapiro
notes
The waxing center inked a lease in the Financial District.
  • Event Retail Leasing
  • Address 730 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 1,740
  • Publication Date 10/30/2017
  • Event Date 10/24/2017
  • Party 1 Equity Residential
  • Party 1 Brokerage Eastern Consolidated
  • Party 1 Broker Brad Cohen, Jon Kamali, Ben Sandel
  • Party 2 Popular Community Bank
  • Party 2 Brokerage Augenbaum Realty
  • Party 2 Broker Josh Augenbaum
notes
The bank inked a 10-year lease in the 16-story building.
  • Event Office Leasing
  • Address 750 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 750
notes
Eastern Consolidated
  • Event Retail Leasing
  • Address 750 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 950
notes
The pharmacy signed a lease.
  • 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 420 East 54th Street, 305 West 50th Street, 777 Sixth Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 475,000,000
  • 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 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 Retail Leasing
  • Address 160 Riverside Boulevard
  • Neighborhood Lincoln Square
  • Borough Manhattan
  • Square feet 3,500
notes
The restaurant management company signed a 20-year lease to open two eateries: Chan's Asian Garden and a pizzeria and wine bar. The reported asking rent for the space, which also has a 3,500-square-foot patio, was $65 per square foot.
  • 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
  • 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
  • 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
  • Address Trump Place
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 816,000,000
  • 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 71 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 100,000,000
notes
Sam Zell REIT~~#s first buy Downtown
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