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Fortis Property Group
Fortis Property Group is a privately held real estate investment and management company. Based in Brooklyn and founded in 2005, Fortis has developed upwards of $3 billion in commercial real estate, mainly Class-A office space and retail, as well as multifamily residential throughout Manhattan. While many of Fortis' holdings are office buildings, the firm has shied away from office space in New York City in recent years, preferring to focus instead on residential spaces downtown and in Brooklyn. Most of the firm's funding comes from senior and mezzanine debt, but it also has several high-net-worth individuals and institutions that invest with the firm. Some of Fortis' projects have garnered pushback, such as the 2015 plans to develop Long Island College Hospital in Brooklyn (Fortis bought the property the previous year for $240 million), which received backlash for the lack of affordable housing. Fortis also was sued by Jack Resnick & Sons in a trademark dispute over Fortis' use of the One Seaport name to market a condo tower near South Street Seaport.
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06/06/17
...increased zoning rights on their sites.
In November, Fortis Property Group dropped its plans to include affordable housing at the Long Island College Hospital development...
06/01/17
...liability. In April, a Brooklyn judge ruled that Fortis Property Group was not responsible for defects at condos it sold after acquiring them from their...
04/26/17
...court decision in Brooklyn last week will let Fortis Property Group get away with selling allegedly faulty condominiums in Williamsburg, for the simple reason that...
03/23/17
...and Jonathan Landau (Credit: CityRealty and Larry Ford)
Fortis Property Group is testing the market for condominiums in three planned buildings at the former Long...
03/03/17
...Hospital
Work at one of the buildings at Fortis Property Group’s controversial Long Island College Hospital redevelopment came to a halt Thursday, after the...
02/06/17
...Jonathan Landau (Credit: Larry Ford)
Residents close to Fortis Property Group’s controversial Long Island College Hospital project say the developer is waking them up...
01/03/17
...includes 161 Maiden Lane, a 60-story condo tower that Fortis Property Group is developing in the Financial District.
"We're focusing even more than we have in...
01/03/17
...platform. In November, following months of unproductive negotiations, Fortis Property Group scrapped plans to include affordable housing at its Long Island College Hospital Long development...
12/30/16
...StreetEasy.
161 Maiden Lane
1 Seaport Residences
161 Maiden Lane
Developer: Fortis Property Group
Projected Sellout: $272 million
Units: 80
Type: New Construction
Fortis Property Group bought this two-parcel site...
12/28/16
...under $2 million.
8. Polhemus Residences Condominium
100 Amity Street
Developer Fortis Property Group
Projected Sellout: $67.4 million
Units: 17
Type: Rehabilitation
This conversion of the landmarked Polhemus Building in...
12/22/16
...Joel Kestenbaum and Jonathan Landau (Credit: Larry Ford)
Fortis Property Group is plowing ahead with plans for its Long Island College Hospital project, filing plans...
12/13/16
...new apartments in Bedford Stuyvesant, as well as Fortis Property Group...
12/07/16
...Joel Kestenbaum and Jonathan Landau (credit: Larry Ford)
Fortis Property Group filed plans for two residential buildings at the Long Island College Hospital site in...
12/05/16
...Long Island College Hospital condo project in Brooklyn
Fortis Property Group’s grand plan for the former Long Island College Hospital complex in Brooklyn hasn't...
11/30/16
...fellow politicians in recent months. Earlier this month, Fortis Property Group abandoned plans to include affordable housing at its Long Island College Hospital development in...
11/18/16
...East Village multifamily portfolio purchase and $107 million for Fortis Property Group...
11/08/16
...Blasio
Mayor Bill de Blasio isn't happy that Fortis Property Group scrapped affordable housing from its Long Island College Hospital project, saying those involved in...
11/08/16
...developers that SUNY tapped to transform the site: Fortis Property Group, a company that has managed to stay out of the limelight for several years...
11/04/16
...failed negotiations with the city, it looks like Fortis Property Group...
09/06/16
...off contact with Capalino. The lobbyist still represents Fortis Property Group, which won a bid to redevelop the Long Island College Hospital site in Brooklyn...
08/17/16
...Long Island College Hospital condo project in Brooklyn
Fortis Property Group...
08/09/16
...Fortis' Louis Kestenbaum, Long Island College Hospital (credit: Fortis Property Group) and Bill de Blasio
The future of the Long Island College Hospital site is...
07/15/16
...on the 1.1 million-square-foot tower’s name.
Resnick sued Fortis Property Group last year over its plans to call its new 60-story condo tower at the...
06/08/16
...an attractive target for developers. For example, in 2014, Fortis Property Group paid $240 million for the Long Island College Hospital in Cobble Hill, where it plans...
05/24/16
...of bankruptcy and redeveloped the property into condos. Fortis Property Group last year bought Long Island College Hospital in Brooklyn and plans to develop high-rise...
- 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
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 Fortis Property Group, Joy Construction Corporation
- Party 1 Brokerage HFF
- Party 1 Broker Andrew Scandalios, Jeff Julien, Rob Hinckley
- Party 2 Equity Residential
notes
The multifamily residential building sold for $80 million.
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 103S, 545 West 48th Street
- Unit 103S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 521
- Price $ 763,688
- Price per foot $ 1,465.81
- Publication Date 01/22/2016
- Event Date 12/23/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 1 Entity 545 West 48 LLC
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 104S, 545 West 48th Street
- Unit 104S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 774
- Price $ 967,338
- Price per foot $ 1,249.79
- Publication Date 12/16/2015
- Event Date 11/24/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition LLC
- Party 2 Patel, Nimesh A
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 102S, 545 West 48th Street
- Unit 102S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 501
- Price $ 738,231
- Price per foot $ 1,473.52
- Publication Date 11/12/2015
- Event Date 10/22/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition LLC
- Party 2 Bezada, Jose Martin; Schenone, Vilma
- Event Residential Sales
- Building Name 540 West 49th Street
- Address Unit 106N, 540 West 49th Street
- Unit 106N
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 1,157
- Price $ 1,858,306
- Price per foot $ 1,606.14
- Publication Date 10/22/2015
- Event Date 10/15/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Sun, Chao
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 103S, 545 West 48th Street
- Unit 103S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 547
- Price $ 763,688
- Price per foot $ 1,396.14
- Publication Date 10/16/2015
- Event Date 10/09/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 1 Entity Old World Real Estate Group, LLC
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 101S, 545 West 48th Street
- Unit 101S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 779
- Price $ 999,922
- Price per foot $ 1,283.60
- Publication Date 10/19/2015
- Event Date 10/08/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Ruch, Loren M.; Salas, David J.
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 107S, 545 West 48th Street
- Unit 107S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 1,027
- Price $ 1,400,094
- Price per foot $ 1,363.29
- Publication Date 10/21/2015
- Event Date 10/07/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Aponte, Alfredo; Aponte, Roxana
- Event Residential Sales
- Building Name 545 West 48th Street
- Address Unit 108S, 545 West 48th Street
- Unit 108S
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 1,092
- Price $ 1,476,463
- Price per foot $ 1,352.07
- Publication Date 10/19/2015
- Event Date 10/02/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Arita, Akira; Arita, Patricia
- Event Residential Sales
- Building Name 540 West 49th Street
- Address Unit 110N, 540 West 49th Street
- Unit 110N
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 551
- Price $ 813,898
- Price per foot $ 1,477.13
- Publication Date 08/11/2015
- Event Date 07/21/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 1 Entity Pan Manhattan LLC
- Event Residential Sales
- Building Name 540 West 49th Street
- Address Unit 105N, 540 West 49th Street
- Unit 105N
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 1,091
- Price $ 1,664,839
- Price per foot $ 1,525.98
- Publication Date 07/22/2015
- Event Date 06/04/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Jung, Perry
- Event Residential Sales
- Building Name 540 West 49th Street
- Address Unit 107N, 540 West 49th Street
- Unit 107N
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 507
- Price $ 748,414
- Price per foot $ 1,476.16
- Publication Date 06/18/2015
- Event Date 06/03/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 2 Kim, Nam Woo
- Event Residential Sales
- Building Name 540 West 49th Street
- Address Unit 108N, 540 West 49th Street
- Unit 108N
- Neighborhood Midtown West
- Borough Manhattan
- Square feet 803
- Price $ 1,145,531
- Price per foot $ 1,426.56
- Publication Date 06/02/2015
- Event Date 05/22/2015
- Party 1 Fortis Property Group
- Party 1 Entity Fpg Clinton Acquisition, LLC
- Party 1 Entity 540 West 49Th Street 108N LLC
- Event Sales
- Building Name 151-161 Maiden Lane
- Address 151 Maiden Lane
- Neighborhood Seaport
- Borough Manhattan
- Price $ 64,000,000
- Publication Date 10/01/2013
- Event Date 08/22/2013
- Party 1 Kay Development Group
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Helen Hwang, Nat Rockett, Steven Kohn, Jared Kelso, John LiGreci, Bruce Mosler
- Party 2 Fortis Property Group
notes
The property sold for $64 million. The 11,539-square-foot lot offers nearly 250,000 square feet of buildable space.
- Event Sales
- Address 20 Bayard Street
- Neighborhood Williamsburg
- Borough Brooklyn
- Price $ 25,000,000
- Publication Date 12/01/2011
- Event Date 10/17/2011
- Party 1 W Financial Fund
- Party 2 Fortis Property Group
- Event Sales
- Address 139 North 10th Street
- Neighborhood Williamsburg
- Borough Brooklyn
- Price $ 6,100,000
- Publication Date 10/01/2011
- Event Date 08/17/2011
- Party 1 Sanjer Raz LLC
- Party 1 Broker Evan Haymes
- Party 2 Simon Dushinsky, Fortis Property Group
Brooklyn, 11201
FPG CH 112 PACIFIC, LLC
FPG CH 112 PACIFIC, LLC
112 Pacific Street is a 10,000 square foot property built in 1930 in...
Brooklyn, 11201
Fortis Property Group, FPG CH 349 HENRY LLC & FPG CH 11
Fortis Property Group, FPG CH 349 HENRY LLC & FPG CH 11
347 Henry Street is a 50,217 square foot property in the Cobble Hill...
Brooklyn, 11201
Fortis Property Group, FPG CH 350 HICKS, LLC CLO FORTIS
Fortis Property Group, FPG CH 350 HICKS, LLC CLO FORTIS
350 Hicks Street is a 115,486 square foot property in the Cobble Hill...
Brooklyn, 11201
NYU Langone Medical Center, DOWNSTATE AT LICH HOLDING COMPANY, INC.
NYU Langone Medical Center, DOWNSTATE AT LICH HOLDING COMPANY, INC.
Long Island College Hospital (full name University Hospital of Brooklyn at Long Island...
12/30/16
...StreetEasy.
161 Maiden Lane
1 Seaport Residences
161 Maiden Lane
Developer: Fortis Property Group
Projected Sellout: $272 million
Units: 80
Type: New Construction
Fortis Property Group bought this two-parcel site...
12/28/16
...under $2 million.
8. Polhemus Residences Condominium
100 Amity Street
Developer Fortis Property Group
Projected Sellout: $67.4 million
Units: 17
Type: Rehabilitation
This conversion of the landmarked Polhemus Building in...
...the 80-unit 1 Seaport, which is being developed by Fortis Property Group, and the 82-unit Steiner East Village, being developed by Steiner NYC — they purposely release...
...condos, while also doing large rentals such as Fortis Property Group’s 131-unit Atelier Williamsburg. Now with Aptsandlofts.com under the Citi Habitats umbrella, the...
08/04/15
...establish new medical facilities designed by Perkins Eastman. Fortis Property Group, which owns the site, seeks to develop the remaining space for a residential project...
Brooklyn, 11201
Fortis Property Group, FPG CH 349 HENRY LLC & FPG CH 11
Fortis Property Group, FPG CH 349 HENRY LLC & FPG CH 11
347 Henry Street is a 50,217 square foot property in the Cobble Hill...
Brooklyn, 11201
Fortis Property Group, FPG CH 350 HICKS, LLC CLO FORTIS
Fortis Property Group, FPG CH 350 HICKS, LLC CLO FORTIS
350 Hicks Street is a 115,486 square foot property in the Cobble Hill...
Brooklyn, 11201
NYU Langone Medical Center, DOWNSTATE AT LICH HOLDING COMPANY, INC.
NYU Langone Medical Center, DOWNSTATE AT LICH HOLDING COMPANY, INC.
Long Island College Hospital (full name University Hospital of Brooklyn at Long Island...
