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    Sapir Organization


    261 Madison Avenue
    New York, NY 10016
    212-971-0111
    Website

    The Sapir Organization is a group of privately and publicly held real estate companies run by the Sapir family.

    Among the properties the organization owns are 260 and 261 Madison Avenue and MTA headquarters at 2 Broadway. The companies also own a number of luxury hotel condominiums and residential spaces. The company was founded by U.S.S.R-born businessman Tamir Sepiashvili (who changed his last name to Sapir after immigrating to Israel). Today, son Alex runs the business after Tamir Sapir died in 2014.

    In 2015, Sapir Organization and CIM Group announced the sale of 11 Madison Avenue, an iconic office building, for nearly $2.3 billion. Sapir had bought the historic building in 2003 and was joined by CIM seven years later. In 2014, the organization purchased the ground lease under 110 Church Street and 53 Park Place for $231 million, taking complete control of both sites (the company had owned the buildings). The Sapir group also purchased the Mondrian SoHo hotel at 9 Crosby Street earlier that year in a partnership with Gerard Guez, paying $205 million for the site and renaming the hotel the NoMo SoHo.

    In 2018, Sapir launched Sapir Corp Ltd., a publicly traded real estate development company listed on the Tel-Aviv stock exchange. Through Sapir Corp Ltd., Sapir expanded the geography of the firm’s portfolio to Miami, Florida, which includes over 1 million square feet of ground up, mixed-use development, and a luxury condo development in Surfside, Florida.

    In 2019, he firm and the estate of the late Tamir Sapir became embroiled in dueling multi-million-dollar lawsuits with Rotem Rosen — Tamir’s former son-in-law and Alex's former business partner and former CEO of the Sapir Organization.

     

    Tamir Sapir
    Sapir Organization, Founder
    261 Madison Avenue, New York, NY, (212) 683-5765
    Tamir Sapir, who died in 2014, was a New York City-based real estate...
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 112,000
    • Publication Date 01/31/2020
    • Event Date 01/28/2020
    • Party 1 Sapir Organization
    • Party 1 Brokerage Sapir Organization
    • Party 1 Broker Husein Sonara
    • Party 2 McLaughlin & Stern
    • Party 2 Brokerage Avison Young
    • Party 2 Broker Mike Gottlieb, Arthur Mirante
    notes
    The law firm inked a deal to renew its lease for the Garment District building for an additional 12 years.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 18,224
    • Publication Date 01/31/2020
    • Event Date 01/28/2020
    • Party 1 Sapir Organization
    • Party 1 Brokerage CBRE
    • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
    • Party 2 Guidepost Solutions
    • Party 2 Brokerage CBRE
    • Party 2 Broker David Stockel
    notes
    The firm inked a lease for the Garment District building.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 14,025
    • Publication Date 09/06/2019
    • Event Date 09/04/2019
    • Party 1 Sapir Organization
    • Party 1 Brokerage CBRE
    • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
    • Party 2 RR Donnelley
    • Party 2 Brokerage CBRE
    • Party 2 Broker Dan Knopf, Ben Fastenberg
    notes
    The marketing firm inked a 10-year lease for the Garment District building.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 11,056
    • Publication Date 05/09/2019
    • Event Date 05/10/2019
    • Party 1 Sapir Organization
    • Party 1 Brokerage CBRE
    • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
    • Party 2 RoC Cosmetics
    • Party 2 Brokerage Winthrop Commercial, JLL
    • Party 2 Broker Brian Nelson, Seth Hecht
    notes
    The skincare brand inked a lease for the Garment District building.
    For more info, click here
    • Event Financing
    • Address 9 Crosby Street
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 121,165
    • Price $ 115,000,000
    notes
    The owner secured a loan of $115 million for the Soho property.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 5,648
    notes
    The brokerage signed a deal to renew and expand its lease for the Garment District space.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 24,408
    notes
    The camera manufacturer inked a 6-year lease for the Garment District space.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 5,648
    notes
    The IT solutions provider signed a lease for the Garment District space.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 17,296
    notes
    The drug company signed a lease for the Garment District location.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 45,000
    • Publication Date 07/30/2018
    • Event Date 07/30/2018
    • Party 1 Sapir Organization
    • Party 2 Knotel
    notes
    The flexible office company inked a lease for the Garment District location.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 52,500
    notes
    The head-hunting firm signed a long-term deal to renew and expand its lease on the Garment District space.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Murray Hill
    • Borough Manhattan
    • Square feet 11,284
    notes
    The pharma-tech firm renewed its lease for office space on the 23rd and 24th floors of the 28-story office building|with the asking rent of $75 per square foot.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Murray Hill
    • Borough Manhattan
    • Square feet 34,080
    • Publication Date 10/30/2017
    • Event Date 10/24/2017
    • Party 1 Sapir Organization
    • Party 2 USI Insurance Services
    • Party 2 Brokerage Cushman & Wakefield
    • Party 2 Broker David Itzkowitz, Jack Keesser
    notes
    The insurance firm, a longtime subtenant of the building, inked a lease with the owner of the 28-story building.
    For more info, click here
    • Event Office Leasing
    • Address 11 Madison Avenue
    • Neighborhood Flatiron
    • Borough Manhattan
    • Square feet 33,000
    notes
    The talent agency signed a 33,000-square foot expansion lease, bringing its space in the building to 99,000 square feet.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 37,000
    • Price per foot $ 62.00
    • Publication Date 04/06/2015
    • Event Date 02/25/2015
    • Party 1 Sapir Organization
    • Party 1 Brokerage Cushman & Wakefield
    • Party 1 Broker Alan Wildes
    • Party 2 Marcus & Millichap
    • Party 2 Brokerage in-house
    For more info, click here
    • Event Retail Leasing
    • Address 9 Crosby Street
    • Neighborhood Soho
    • Borough Manhattan
    • Price $ 205,000,000
    • Publication Date 04/01/2015
    • Event Date 02/20/2015
    • Party 1 German American Capital Corporation
    • Party 2 Sapir Organization
    For more info, click here
    • Event Retail Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 2,000
    notes
    The restaurant signed a lease. The reported asking rent was $100 per square foot.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 60,105
    notes
    The apparel manufacturer signed a 10-year lease renewal on the sixth and 14th floors, the New York Post reported.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 17,000
    notes
    The Israel-based accounting firm signed a lease for part of the second floor.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 23,000
    notes
    The property management firm signed a lease on the 12th floor.
    For more info, click here
    • Event Office Leasing
    • Address 260 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 36,000
    • Publication Date 09/01/2010
    • Event Date 07/23/2010
    • Party 1 Sapir Organization
    • Party 1 Brokerage In-house
    • Party 2 McLaughlin & Stern
    • Party 2 Brokerage Grubb & Ellis
    • Party 2 Broker Howard Grufferman
    notes
    The law firm signed an expansion lease for two more floors totaling 36,000 square feet, bringing its total occupancy to 100,000 square feet on the building's top eight floors.
    For more info, click here
    • Event Sales
    • Address 100 Church Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Price $ 10,000
    notes
    SL Green will take control of the 1 million sf office tower after placing the winning bid of $10,000 at an auction. Current owners the Sapir Organization had failed to make loan payments to SL Green and another lender last year, prompting the lenders to foreclose on the property.
    For more info, click here
    • Event Office Leasing
    • Address 100 Church Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Square feet 225,000
    • Publication Date 05/01/2009
    • Event Date 03/22/2009
    • Party 1 Sapir Organization
    • Party 1 Brokerage CBRE
    • Party 2 MetSchools
    • Party 2 Brokerage Newmark Grubb Knight Frank
    notes
    The operator of New York City private schools signed a lease for the new Claremont Preparatory High School. The school is slated to open in the 21-story office building in the fall.
    For more info, click here
    • Event Office Leasing
    • Address 100 Church Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Square feet 64,529
    notes
    The provider of financial market data signed a 15-year lease.
    For more info, click here
    • Event Office Leasing
    • Address 261 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 24,300
    • Publication Date 03/01/2009
    • Event Date 01/20/2009
    • Party 1 Sapir Organization
    • Party 1 Brokerage In-house
    • Party 2 United Staffing Systems
    • Party 2 Brokerage Newmark Grubb Knight Frank
    • Party 2 Broker Chris Mongeluzo
    notes
    The employment firm signed a 10-year lease renewal for the entire second floor.
    To see all, go to Advanced Search
    9 Crosby Street
    Manhattan, 10013
    9 CROSBY, LLC
    ...
    2 Broadway
    Manhattan, 10004
    2 BROADWAY GROUND LEA
    ...

    The 10 biggest office leases of October
    11/06/2017
    USI occupies the entire 5th floor and a portion of the 6th. David Itzkowitz and Jack Keesser of Cushman & Wakefield represented the tenant. Sapir Organization is the landlord of the building...

    The 10 biggest NYC investment sales of 2016
    12/29/2016
    Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan...

    NYC’s 10 biggest investment sales in August
    09/28/2016
    Prudential’s real estate subsidiary, PGIM Real Estate, was the buyer, paying $480 million for the partial interest and also taking on a portion of the property's debt.  As part of the deal, PGIM will have the option to buy an additional 9 percent stake in the tower later. CBRE’s Darcy Stacom and William Shanahan brokered the sale. SL Green’s $2.29 billion purchase of the tower in full from CIM Group and Sapir Organization was one of 2015’s top deals...

    Manhattan’s mega leases
    03/01/2015
    The eye-popping 1.1 million-square-foot renewal by the global bank Credit Suisse starts at roughly $84 million a year for the building’s owners, the Sapir Organization and the CIM Group...

    New buyers, one broker rule in 2014 building sales
    01/02/2015
    Major office tenants steered clear of large blocks of office space two years ago, but that trend largely reversed itself last year. The biggest new office lease based on the space’s size was Time Inc. taking nearly 670,000 square feet at Brookfield Office Properties’ Brookfield Place, according to CompStak data. The top office lease overall was a renewal of 1.2 million square feet by Credit Suisse at the Sapir Organization’s 11 Madison Avenue...

    Office leasing lows
    01/01/2013
    The other large block is 57,904 square feet on the 14th floor at 11 Madison Avenue, the 2.2 million-square-foot office building on Madison Square Park. The space is being listed by the owners, the Sapir Organization and the CIM Group, and handled by CBRE...

    Fourth quarter won’t deliver, execs say
    10/31/2011
    SL Green took full ownership of the 21-story office building from the Sapir Organization in January 2010...

    The biggest bargains the last time around
    11/30/2009
    Some buys were clearly deals in their day; others are more obviously steals in retrospect. For instance, in 1995, developer Tamir Sapir of the Sapir Organization bought 2 Broadway from Olympia & York, the bankrupt Canadian developer, for $20.5 million, or $13 a foot...