Ponte Equities is a real estate management and investment firm run by Anthony Ponte. Formed in 1977, the firm has been a fixture in Tribeca (where its owner used to run an Italian restaurant). During the 1960s, the Ponte family began its interest in real estate by buying parking garages, former warehouses and auto shops in the neighborhood. Today it has more than 30 properties under management. Ponte has partnered with the Related Companies over the years, building a 13-story luxury condo building in Tribeca, as well as developing the nearby 261 Hudson Street and an 80-20 split residential building on 460 Washington Street. In 2014, Ponte sold Related a six-parcel development site in that neighborhood for $115 million. In 2013, Ponte was sued by tenants of one of its rent-stabilized buildings at 31 Desbrosses Street for allegedly failing to administer appropriate repairs after Hurricane Sandy. The building was deemed by city officials to be unsafe, one of only eight in the entire city to receive the dreaded red sticker after the storm.