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Sapir Organization

260 Madison Avenue
New York, NY 10016
(212) 683-5765
Website

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 218 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 Temur Sepiashvili (who changed his last name to Sapir after immigrating to Israel). Today, son Alex runs the business (Temur reportedly has been suffering from a mental problems). 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.


Saks Fifth Avenue failed at a Manhattan mall. A flexible office space provider will replace it.
03/20/19
...by Newmark Knight Frank, the Moinian Group and Sapir Organization. Led by Ryan Simonetti, Convene launched in 2009. The new space will be Convene's sixth...

Hanes takes another floor at Sapir’s
260 Madison
03/06/19
...is consolidating its New York offices at the Sapir Organization...

After dropping the Trump Soho name, business is booming
02/27/19
...CIM Group served as the lender to developers Sapir Organization and the Bayrock Group, a firm led by Russian-American Felix Sater, who sought to...

CIM mulls sale of former Trump Soho hotel
02/25/19
...also a lender for the property when the Sapir Organization and Bayrock Group were developing it. Bayrock included Felix Sater as one of its...

In growth mode, Knotel to move HQ to former New York Times Building
02/06/19
...The firm, backed by Newmark Knight Frank, the Sapir Organization and others, has raised $160 million in funding at a valuation in April 2018 of $500 million...

Sapir Organization lands $115M refi for NoMo hotel
01/02/19
...Sapir (Credit: MTB Builders and Getty Images) The Sapir Organization has refinanced its trendy NoMo hotel with $115 million from Goldman Sachs, according to property...

The 10 biggest real estate tech deals of 2018
12/26/18
...real estate companies Newmark Knight Frank and the Sapir Organization, which jointly led the Series B, and the Wolfson Group, Moinian Group and Wainbridge...

Knotel is WeWork’s fiercest rival. Here are its internal numbers.
10/24/18
...Knotel’s backers include Newmark Knight Frank, the Sapir Organization, the Wolfson Group, Bloomberg Beta and Invest AG. The company leases office space, builds...

Felix Sater on money laundering at Trump properties: “I think he just didn’t care”
10/09/18
...Group built Trump Soho in partnership with the Sapir Organization and leased the Trump name for the property. Trump hired him as a “senior...

Tamir Sapir failed to report $194M from partial sale of 11 Madison: IRS
09/12/18
...The tax dispute regards capital gains from the Sapir Organization’s 2010 sale of a 49 percent stake in 11 Madison to CIM Group. On his initial...

Jay Suites to Knotel: Stay out of my house
08/03/18
...a management agreement for 45,000 square feet at the Sapir Organization’s 261 Madison Avenue, where WeWork is already a tenant. A source close to WeWork...

Knotel takes 45K sf at Sapir’s 261 Madison
07/30/18
...agreement for just over 45,000 square feet at the Sapir Organization’s 261 Madison Avenue, the company announced Monday. The flexible office company will lease the...

Knotel inks lease for largest location in Soho to date
07/24/18
...April led by Newmark Knight Frank and the Sapir Organization that valued the company at $500 million. And last week the company agreed to buy...

Hello Alfred raises $40M in Series B
05/31/18
...funding led by Newmark Knight Frank and the Sapir Organization...

How Knotel became the little flexible office startup that could
05/10/18
...from real estate firms Newmark Knight Frank, the Sapir Organization, the Moinian Group, the Wolfson Group and Wainbridge Capital, giving it a $500 million valuation...

The little flexible office
startup that could
...from real estate firms Newmark Knight Frank, the Sapir Organization, the Moinian Group, the Wolfson Group and Wainbridge Capital, giving it a $500 million valuation...

SL Green founder and chairman Stephen Green to step down
04/30/18
...include 11 Madison Avenue, which it bought from the Sapir Organization for $2.3 billion, the Graybar Building at 420 Lexington Avenue, and an upcoming skyscraper at One...

WATCH: Michael Cohen’s real estate friends, and their ties to Trump
04/19/18
...s real estate industry. Rosen eventually joined the Sapir Organization, developers of Trump Soho, and joined the future president on his infamous trip to...

Sapir consolidating ownership at Nomo Soho hotel
04/18/18
...a $70 million payout. Sapir, who also runs the Sapir Organization, has been on something of a spending spree lately. In March, he paid $17 million...

WeWork rival Knotel is now valued at $500M
04/10/18
...was led by Newmark Knight Frank and the Sapir Organization, with participation from the Wolfson Group, the Moinian Group and Wainbridge Capital. Sarva, who...

These were the biggest Manhattan real estate loans in February
03/14/18
...Lower Manhattan. Clipper bought the building from the Sapir Organization for $560 million in 2014 and last refinanced it two years ago. The new financing replaces...

Kriss, Bayrock agree to settle racketeering lawsuit after 8 years
02/22/18
...Sater's 1998 racketeering conviction. In 2010 Trump, Bayrock and the Sapir Organization were sued for lying to prospective buyers about their sales success. The Manhattan District...

Trump Soho has a new name
12/21/17
...Originally developed by the Bayrock Group and the Sapir Organization, CIM took over the 391-unit building in 2014. -- Konrad Putzier...

Trump Soho’s secret suitors: Keith Rubenstein and the head of one of Kazakhstan’s largest banks
12/11/17
...reviewed by Bloomberg indicate that developers Bayrock and Sapir Organization were shopping a partial or full in tower in 2012. According to information included in...

Trump Soho no’ mo’: The Trump name is off the building, company says
11/22/17
...by a partnership of Bayrock Group and the Sapir Organization, with the Trump Organization providing branding and management. The Times reported earlier this year...
Tamir Sapir
Sapir Organization, Founder
260 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 36,293
  • Price per foot $ 60.00
  • Publication Date 03/11/2019
  • Event Date 03/06/2019
  • Party 1 Sapir Organization
  • Party 1 Brokerage CBRE
  • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
  • Party 2 HanesBrands
  • Party 2 Brokerage JLL, Colliers International
  • Party 2 Broker Mitchell Konsker, Robert Gallucci
notes
The tenant inked a deal to expand its lease for the Garment District location which had an asking rent of $60 per square foot.
For more info, click here
  • Event Financing
  • Address 9 Crosby Street
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 121,165
  • Price $ 115,000,000
  • Publication Date 01/06/2019
  • Event Date 01/02/2019
  • Party 1 Sapir Organization
  • Party 2 Goldman Sachs
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
  • Publication Date 10/22/2018
  • Event Date 10/15/2018
  • Party 1 Sapir Organization
  • Party 1 Brokerage CBRE
  • Party 1 Broker Tim Freydberg, Jared London, Gregg Rothkin, Brett Shannon, Peter Turchin
  • Party 2 GGG & V Realty
  • Party 2 Brokerage CBRE
  • Party 2 Broker Evan Fiddle, Howard Fiddle, Michael Movshovich
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
  • Publication Date 10/08/2018
  • Event Date 10/05/2018
  • Party 1 Sapir Organization
  • Party 1 Brokerage CBRE
  • Party 1 Broker Peter Turchin, Jared London, Tim Freydberg, Gregg Rothkin, Brett Shannon
  • Party 2 Canon
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
  • Publication Date 09/07/2018
  • Event Date 09/07/2018
  • Party 1 Sapir Organization
  • Party 1 Brokerage CBRE
  • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
  • Party 2 GFT Global
  • Party 2 Brokerage CBRE
  • Party 2 Broker Scott Gottlieb, Gary Davies
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
  • Publication Date 09/07/2018
  • Event Date 09/07/2018
  • Party 1 Sapir Organization
  • Party 1 Brokerage CBRE
  • Party 1 Broker Peter Turchin, Gregg Rothkin, Brett Shannon, Tim Freydberg, Jared London
  • Party 2 Allergan USA
  • Party 2 Brokerage CBRE
  • Party 2 Broker Timothy Hay, Brian Hay
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
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
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.
For more info, click here
  • Event Office Leasing
  • Address 261 Madison Avenue
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 47,514
notes
The health insurance and retirement fund provider renewed its lease and took additional space for a 15-year term.
For more info, click here
  • Event Office Leasing
  • Address 100 Church Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 22,400
  • Price per foot $ 48.00
notes
The business center operator inked a 15-year lease for a portion of the eighth floor. This will be the London-based firm's 20th Manhattan location.
For more info, click here
  • Event Office Leasing
  • Address 160-170 Varick Street
  • Neighborhood SoHo
  • Borough Manhattan
  • Square feet 10,790
notes
The real estate companies signed a 15-year lease with a five-year option for the management offices of the Trump Soho Hotel Condominium. The reported asking rent for the second-floor space was $52 per square foot.
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