Lightstone Group | The Real Deal New York

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Lightstone Group

460 Park Avenue
New York, NY 10022
(212) 616-9969
Website
info@lightstonegroup.com
Lightstone-Group

The Lightstone Group is a privately held real estate investment firm founded in 1988 by David Lichtenstein. The company's portfolio includes multifamily apartments, office buildings, hotels, shopping centers and industrial properties throughout the United States and Canada. The company has offices in New York City, New Jersey, Maryland, and Illinois. One of Lightstone's most profitable ventures began in 2002 with the acquisition of Prime Outlets, a Puerto Rico-based outlet mall. The investment firm grew the holding through add-on acquisitions until 2010, when it sold the entire Prime Outlets portfolio to Simon Property Group, netting a profit of $450 million. Its acquisition of Extended Stay Hotels was less successful. Lightstone was forced to give up control of the chain after it filed for bankruptcy in 2009. The company's divestments have included the 2015 sale of a portion of a Gowanus rental development to Atlantic Realty Development; acquisitions in New York include the June 2015 purchase of a residential rental building at 40 East End Avenue in Yorkville in a $32.5 million all-cash deal. As of 2015, Lightstone planned to demolish the six-story, 40-unit building on the site and replace it with an 18-story, 30-unit condominium.


09/05/18
...Garden Inn in Long Island City to the Lightstone Group for $60 million. The company also has properties in Washington D.C. and Philadelphia...

09/04/18
...Mitch Hochberg and the Bronx portfolio The Lightstone Group has closed on its purchase of a trio of Bronx properties for $53 million, extending...

08/28/18
...six-building package in the East Village to the Lightstone Group for $127 million. One of the buildings, a 13-story, 311-key hotel at 112 East 11th Street...

08/02/18
...investing in other real estate tech funds, the Lightstone Group launched its own fund, dubbed Torch Venture Capital, in February. And the developer is...

...investing in other real estate tech funds, the Lightstone Group launched its own fund, dubbed Torch Venture Capital, in February. And the developer is...

07/30/18
...Bowery and The Lightstone Group...

07/11/18
...Organization, LeFrak Ventures (an affiliate with Lightstone) and Lightstone Group affiliate Torch Venture Capital, said Nestio CEO and co-founder Caren Maio. The round was...

06/27/18
...and they tend to be smaller projects,” said Lightstone Group President Mitch Hochberg. “If you can get into the West Village with a reasonable...

06/25/18
...David Behin. Among the most active syndicators are Lightstone Group, DHA Capital, Silverback Development, Heritage Equity Partners, Alchemy Properties, Slate Property Group, Emerald Equity...

06/25/18
...to concerns about inventory levels. David Lichtenstein’s Lightstone Group is getting ready to launch its 244-unit, David Adjaye-designed 130 William Street. Meanwhile, L+M...

06/14/18
...to concerns about inventory levels. David Lichtenstein’s Lightstone Group is getting ready to launch its 244-unit, David Adjaye-designed 130 William Street. Meanwhile, L+M...

06/12/18
...Properties and Israeli road show veterans like the Lightstone Group, Joel Gluck’s Spencer Equity and Yoel Goldman, whose firm All Year Management raised...

06/04/18
...four Bronx buildings in the Greenspan portfolio to Lightstone Group for $50 million. There remains two buildings unsold in the portfolio -- 1975 Adam C. Powell...

...to concerns about inventory levels. David Lichtenstein’s Lightstone Group is getting ready to launch its 244-unit, David Adjaye-designed 130 William Street. Meanwhile, L+M...

05/31/18
...in the neighborhood at 38-59 11th Street,  and Lightstone Group recently purchased the Hilton Garden Inn at 29-21 41st Avenue for $60 million...

05/16/18
...Mitchell Hochberg and the Bronx portfolio The Lightstone Group is making a push into the Bronx’s multifamily market with another multi-building purchase...

05/07/18
...Donna Brandin Lightstone Group...

05/07/18
...at the building to a close. 10. To the Lightstone Group — $35 million A $35 million loan from Western Alliance Bank to Lightstone Group for its purchase...

05/02/18
...has joined the board of directors at the Lightstone Group’s non-traded real estate investment trust, earned a total compensation from REBNY in 2016 of...

05/01/18
...Decatur Avenue. (Credit: PropertyShark) UPDATED, 12:22 p.m., May 1: Lightstone Group has had a busy start to the year. The company had the biggest deal...

04/30/18
...quarter are below: 1. 29-21 41st Avenue, $60 million Buyer: Lightstone Group Seller: Phillip D. Ashkettle, MCS Capital Partners, Ranger Properties LLC The biggest Queens deal...

04/27/18
...in working-class parts of Brooklyn and the Bronx. Lightstone Group signed a contract to buy four Bronx buildings earlier this year for about $50 million...

04/20/18
...Square (inset: Audra Tuskes and Mitchell Hochberg) The Lightstone Group...

04/02/18
...a hotel project at 88 Walker Street in Chinatown. Lightstone Group recently purchased the Hilton Garden Inn at 29-21 41st Avenue in Long Island City...

03/29/18
...Long Island City Hilton Garden Inn (Credit: Hilton) Lightstone Group has purchased the Hilton Garden Inn in Long Island City for $60 million, according to...
Lightstone Group, First Vice President, Investments and Asset Management
460 Park Avenue, New York, NY
...
Lightstone Group, Director, Acquisitions and Development
460 Park Avenue, New York, NY
...
Lightstone Group, Senior Vice President, Investments & Capital Markets
460 Park Avenue, New York, NY
...
Lightstone Group, Senior Vice President, Construction
460 Park Avenue, New York, NY
...
Lightstone Group, Senior Vice President, Asset Management & Investments
460 Park Avenue, New York, NY
...
Lightstone Group, Senior Vice President, Hospitality
460 Park Avenue, New York, NY
...
Lightstone Group, Senior Vice President, Development
460 Park Avenue, New York, NY
...
Lightstone Group, President, Lightstone Capital Markets
460 Park Avenue, New York, NY
...
Lightstone Group, Executive Vice President, Human Resources
460 Park Avenue, New York, NY
...
Lightstone Group, Executive Vice President & General Counsel
460 Park Avenue, New York, NY
...
Lightstone Group, Executive Vice President & Chief Financial Officer
460 Park Avenue, New York, NY
...
Lightstone Group, Chief Development Manager
460 Park Avenue, New York, NY, (212) 616-9969
Veronica Hackett, who goes by Ronne, is a real estate executive and the...
  • Event Sales
  • Address 2180 Bronx Park East
  • Neighborhood Pelham Parkway
  • Borough Bronx
  • Square feet 75,133
  • Price $ 17,500,000
  • Publication Date 09/07/2018
  • Event Date 09/04/2018
  • Party 1 Martin Shapiro
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Robert Shapiro, Jonathan Squires, Bob Knakal
  • Party 2 Lightstone Group
notes
The buyer purchased the Pelham Parkway property for $17.5 million.
  • Event Sales
  • Address 2198 Cruger Avenue
  • Neighborhood Pelham Parkway
  • Borough Bronx
  • Square feet 88,386
  • Price $ 22,500,000
  • Publication Date 09/07/2018
  • Event Date 09/04/2018
  • Party 1 Martin Shapiro
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Robert Shapiro, Jonathan Squires, Bob Knakal
  • Party 2 Lightstone Group
notes
The buyer bought the Pelham Parkway property for $22.5 million.
  • Event Sales
  • Address 2197 Cruger Avenue
  • Neighborhood Pelham Parkway
  • Borough Bronx
  • Square feet 70,296
  • Price $ 13,000,000
  • Publication Date 09/07/2018
  • Event Date 09/04/2018
  • Party 1 Martin Shapiro
  • Party 1 Brokerage Cushman & Wakefield
  • Party 1 Broker Robert Shapiro, Jonathan Squires, Bob Knakal
  • Party 2 Lightstone Group
notes
The buyer purchased the Pelham Parkway property for $13 million.
  • Event Financing
  • Address 2151 Davidson Avenue
  • Neighborhood University Heights
  • Borough Bronx
  • Square feet 34,950
  • Price $ 4,770,000
notes
The owner secured a loan for $4.77 million for the University Heights building.
  • Event Sales
  • Address 2151 Davidson Avenue
  • Neighborhood University Heights
  • Borough Bronx
  • Square feet 34,950
  • Price $ 10,100,000
  • Publication Date 05/15/2018
  • Event Date 04/11/2018
  • Party 1 Paxton Realty
  • Party 2 Lightstone Group
notes
The buyer acquired the University Heights building for $10.1 million.
  • Event Financing
  • Address 3520 Dekalb Avenue
  • Neighborhood Norwood
  • Borough Bronx
  • Square feet 52,001
  • Price $ 6,600,000
notes
The owner secured a $6.6 million loan for the Norwood property.
  • Event Sales
  • Address 3520 Dekalb Avenue
  • Neighborhood Norwood
  • Borough Bronx
  • Square feet 52,001
  • Price $ 10,300,000
  • Publication Date 04/17/2018
  • Event Date 04/06/2018
  • Party 1 Calmed Realty
  • Party 2 Lightstone Group
notes
The buyer secured the Norwood property for $10.3 million.
  • Event Financing
  • Address 29-21 41st Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 35,000,000
  • Publication Date 04/02/2018
  • Event Date 03/29/2018
  • Party 1 Lightstone Group
  • Party 2 Western Alliance Bank
notes
The owner secured a $35 million loan for the Long Island City property.
  • Event Sales
  • Address 29-21 41st Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 60,000,000
  • Publication Date 04/02/2018
  • Event Date 03/29/2018
  • Party 1 Sagamore Capital, Ranger Properties
  • Party 2 Lightstone Group
notes
The partnership acquired the Hilton Garden Inn Long Island City for $60 million.
  • Event Sales
  • Address 105 East 177th Street
  • Borough Bronx
  • Price $ 50,600,000
  • Publication Date 04/02/2018
  • Event Date 03/27/2018
  • Party 1 Belmar Realty
  • Party 1 Brokerage Marcus & Millichap
  • Party 1 Broker Peter Von Der Ahe, Joseph Koicim, Michael Fusco
  • Party 2 Lightstone Group
notes
The buyer secured the 4 multi-family properties in the Bronx for $50.6 million.
  • Event Financing
  • Address 112 East 11th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 78,000
  • Price $ 0
  • Publication Date 03/07/2018
  • Event Date 03/05/2018
  • Party 1 Lightstone Group
  • Party 2 Bank of the Ozarks
notes
The owner secured a $91 million loan to finance its Moxy East Village hotel.
  • Event Financing
  • Address 485 Seventh Avenue
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 29,465
  • Price $ 262,200,000
  • Publication Date 11/06/2017
  • Event Date 11/01/2017
  • Party 1 Lightstone Group
  • Party 2 Goldman Sachs
notes
The owner acquired a $262.2 million loan for the Moxy hotel.
  • Event Financing
  • Address 365 Bond Street
  • Neighborhood Gowanus
  • Borough Brooklyn
  • Square feet 323,193
  • Price $ 120,000,000
notes
The borrower secured a $120 million 2-year, 3.5% interest refinance loan, which will mature in May 2021.
  • Event Financing
  • Address 130 William Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 305,000,000
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Lightstone Group
  • Party 2 Banco Inbursa,S.A., Institucion De Banca Multiple, Mack Real Estate Credit Strategies
notes
The company secured a $305 million loan for the mixed-use multifamily and retail development.
  • Event Financing
  • Address 105-109 West 28th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 23,287
  • Price $ 53,000,000
  • Publication Date 02/01/2017
  • Event Date 12/18/2016
  • Party 1 Lightstone Group
  • Party 2 Bank of the Ozarks
notes
The company secured a $53 million construction loan for the 349-key hotel.
  • Event Sales
  • Address 85 East Tenth Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 69,073
  • Price $ 72,200,000
notes
The 7-story multifamily building was sold for $72.2 million.
  • Event Retail Leasing
  • Address 375 West Broadway
  • Neighborhood SoHo
  • Borough Manhattan
  • Square feet 10,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Pearlmark Investment Advisors
  • Party 1 Brokerage RKF
  • Party 2 Lightstone Group
notes
The sharedspace company signed a lease for online retailers to sell their goods.
  • Event Financing
  • Address 30-02 39th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 30,000,000
  • Publication Date 07/01/2016
  • Event Date 05/15/2016
  • Party 1 Lightstone Group
  • Party 2 CIM Commercial Trust Corporation
notes
The company secured a $30 million mezzanine loan.
  • Event Sales
  • Address 112-120 East 11th Street, 85 East 10th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 127,000,000
notes
The 6-building portfolio sold for $127 million.
  • Event Financing
  • Address 30-02 39th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Square feet 413,000
  • Price $ 75,000,000
  • Publication Date 05/01/2016
  • Event Date 03/17/2016
  • Party 1 Lightstone Group
  • Party 2 Canadian Imperial Bank of Commercial
notes
The company secured a $70 million loan consisting of a $65.1 million building loan and a $9.9 million project loan.
  • Event Financing
  • Address 485 Seventh Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 235,000
  • Price $ 330,000,000
notes
The company secured a $330 million contruction loan.
  • Event Sales
  • Address 30-17 40th Avenue
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 23,200,000
  • Publication Date 03/01/2016
  • Event Date 01/01/2016
  • Party 1 Atlantic Garage
  • Party 2 Lightstone Group
notes
The development site was sold for $23.2 million.
  • Event Sales
  • Address 40 East End Avenue
  • Neighborhood Yorkville
  • Borough Manhattan
  • Price $ 32,500,000
  • Event Sales
  • Address 92 Fulton Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 23,250,000
  • Event Sales
  • Address 1407 Broadway
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 1,100,000
  • Price $ 330,000,000
  • Price per foot $ 300.00
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11/04/15
...were a Macklowe Properties conversion, condos from the Lightstone Group and an Ismael Leyva-designed tower from Elk Investors in Midtown. But far fewer high-rise...

...Polivy of Akerman. Liberty Gardens in Brooklyn • The Lightstone Group is one of several big developers in New York City to form an in-house...

...months. Some firms, such as Tishman Speyer and Lightstone Group, are developers that also act as equity funds, and are therefore included in the...

...Meir Milgraum, 28 Director of acquisitions and development, the Lightstone Group Meir Milgraum (Photo: Max Dworkin) David Lichtenstein’s Lightstone Group has amassed a development...

...EXR Group. Not surprisingly, developers have noticed. The Lightstone Group is building a 700-unit rental at 363-365 Bond, and Jared Kushner’s Kushner Companies...

...market” before adding to his pipeline. Meanwhile, the Lightstone Group ranked No. 7 with a two-building complex totaling 697 rental units in Gowanus. The Brodsky Organization...

...tried-and-true strategy of residential conversions. For instance, the Lightstone Group earlier this year paid nearly $1,200 per square foot for an office building at 114 Fulton...
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