Hidrock Properties, formerly Hidrock Realty, is a privately held commercial real estate developer. Founded by Jack Hidary in the 1970s, Hidrock has bought or built more than $1.5 billion worth of property, including hotel, office, retail, and residential. Most of the firms recent activity has been in New York City, and a good deal of its acquisitions involve conversions or redevelopment. In many cases, Hidrock purchases Class-C office buildings and then looks to upgrade them into Class-B or better. Hidrock also plans to convert the Pavilion Theater in Park Slope, which it purchased in 2006, into an apartment building. Many of Hidrock's holdings are hotels, ever since it first broke ground on its first hotel in Midtown. In 2012 it partnered with Robert Finvarb Companies to develop a hotel in the Financial District, and the following year it was one of the developers to build or redevelop several hotels in or around Herald Square.