The Real Deal New York

Pan Am Equities is a real estate development and management company. The firm is owned by the influential Manocherian family, which owns more than 85 buildings throughout Manhattan. The family rose to prominence in the 1970s. The family specialized in buildings in the Upper East Side on First and Second Avenue, primarily tenement houses. Members of the family also own the New York Health & Racquet Club. In 2014 the firm sold six Upper East side rental apartment buildings for $47 million: three five-story buildings at 413-417 East 81st Street, and three contiguous buildings on East 83rd Street. That same year the firm paid $48 million for two commercial condos on 63rd Street in the Upper East Side, one of which was the former site of the Barbizon Hotel for Women. Among the other buildings in its portfolio is the New York Tower at East 39th Street, the Caroline at 60 West 23rd Street, and New York Plaza at 2 Water Street.