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Stellar Management
Stellar Management is a real estate investment and management firm founded in 1985. Stellar has more than 100 buildings in New York City and Miami, with 2 million square feet of commercial space besides. Run by Larry Gluck, who founded the firm with Steve Witkoff in 1985, Stellar initially made a name for itself by developing low-income rental buildings in Washington Heights. Since the early days, Stellar has moved into renovating larger projects (such as Harlems Riverton Houses in 2005, where it later defaulted during the financial crisis) and purchasing more luxurious apartments (such as in 2016, when it purchased the Paris for $146 million). Currently, Stellar Management is at work with partner Rockpoint Group on One Soho Square, a 768,000-square-foot retail and office development in lower Manhattan.
Stellar has also made headlines over the years for various lawsuits and tenant complaints. In 2016, Stellar sued Brookhill Properties founder Raphael Toledano for allegedly backing out of a $110 million loan. In 2014, Stellar was accused by rent-stabilized tenants in one of its Upper West Side apartment buildings of harassment, and the firm has been accused in the past of barring other rent-stabilized tenants from using certain amenities.
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07/17/17
...major and minor landlords alike, including Glenwood Management, Stellar Management and the Durst Organization. Those contributions totaled more than $90,000. The largest single landlord contribution...
06/05/17
...create 188 jobs. The company is currently headquartered at Stellar Management’s One Soho Square.
A leasing team at Newmark Knight Frank headed by David...
05/24/17
...leg work leading to suits against landlords like Stellar Management and A&E Real Estate), said "J-51 offenders are robbing tenants and taxpayers...
04/28/17
...Cosmetics took the 10th through 13th floors at Stellar Management...
04/20/17
...alleged Brooklyn fraud scheme
2. 59 tenants sue Gluck’s Stellar Management claiming rent overcharges
3. Demand for Brooklyn condos is hot, but developers could struggle to...
04/18/17
...Street
UPDATED, April 18, 5:28 p.m.: Larry Gluck’s Stellar Management is facing a lawsuit for allegedly overcharging dozens of rent-stabilized tenants, violating the terms...
04/17/17
...Georgetown Properties is following suit at 787 11th Avenue.
Stellar Management recently leased the penthouse space at its One Soho Square project to the cosmetics...
04/04/17
...lease for 86,000 square feet of office space at Stellar Management...
02/27/17
...owned the property since 1980.
4.) Icon Realty Management and Stellar Management flipped an 11-unit multifamily building in Hell’s Kitchen they bought for $5.4 million in...
12/30/16
...Manhattan, who sued their landlord, Laurence Gluck of Stellar Management. The court had upheld the tenants’ challenge of Gluck’s removal of the building...
11/29/16
...-220 Fifth Avenue in NoMad
Larry Gluck’s Stellar Management and Imperium Capital are close to entering contract to acquire the leasehold interest for...
10/27/16
...rendering of One Soho Square and Larry Gluck
Stellar Management is close to signing the biggest tenant yet to its flashy Soho office-and-retail redevelopment...
09/26/16
...for comment.
Although StreetEasy shows Larry Gluck’s Stellar Management as one of the building’s developers, a spokesperson said Stellar owned no stake...
09/19/16
...Kingsland Avenue in East Williamsburg
1.) A partnership between Stellar Management and Terrence Lowenberg’s Icon Realty Management picked up a the Educational Alliance building...
08/15/16
...and rendering of One Soho Square
Larry Gluck's Stellar Management has bought out former partner the Rockpoint Group and brought on a new investor...
08/15/16
...A tech firm is taking 32,000 square feet at Stellar Management...
08/08/16
...industry and landlords such as Related Companies and Stellar Management.
In the recent suit, the Yellens — who’ve lived in a rent-stabilized unit at...
06/29/16
...large complexes with expiring rent restrictions. Larry Gluck's Stellar Management, for example, took the 1,328-unit Independence Plaza North to market after Mitchell-Lama regulations ran...
05/11/16
...to nearly 700 units at the Chetrit Group and Stellar Management...
04/28/16
...case involved a move by Laurence Gluck’s Stellar Management to deregulate units at its giant 1,331-unit complex Independence Plaza North in Tribeca while...
04/26/16
...the Donald's name on it.
301 East 47th Street
Stellar Management
Offering price: $234 million
Larry Gluck’s Stellar Management picked up the 252-unit, 290,000-square-foot Midtown...
04/20/16
...head H. Dale Hemmerdinger donated $2,500, and Larry Gluck's Stellar Management offered up $1,000. McGrath was also popular with the property owner groups, like the Rent...
04/06/16
...sector, bought 11 East 75th Street for $29.7 million from Stellar Management head Larry Gluck. He then purchased 15 East 75th Street for $18.3 million in December 2014 and...
03/24/16
...the asset. Its previous owners, Rockpoint Group and Stellar Management (which also invested about $45 million in renovations), defaulted on the office building during the...
03/08/16
...property for $140 million in 2013 from Larry Gluck’s Stellar Management and Savanna, where Hoo was previously an executive. – Ariel Stulberg...
Stellar Management, Chairman and CEO
156 WILLIAM STREET, New York, NY, 212-406-0030
156 WILLIAM STREET, New York, NY, 212-406-0030
Laurence Gluck, who goes by Larry, is the co-founder, chairman, and chief executive...
- Event retail Leasing
- Address 233 Spring Street
- Neighborhood Soho
- Borough Manhattan
- Square feet 19,000
- Publication Date 05/01/2017
- Event Date 03/17/2017
- Party 1 Stellar Management
- Party 1 Brokerage CBRE Group
- Party 1 Broker Sean Moran, David LaPierre, Cassie Durand, Kristen Crossman
- Party 2 Trader Joe's
- Party 2 Brokerage RKF
notes
Trader Joe's, a California-based healthy grocery store, leased the ground-floor at One Soho Square
- Event Office Leasing
- Address 233 Spring Street
- Neighborhood SoHo
- Borough Manhattan
- Square feet 26,164
- Publication Date 05/01/2017
- Event Date 03/17/2017
- Party 1 Stellar Management, Imperium Capital
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Brent Ozarowski, David Malawer, Andrew Peretz, Brian Waterman
- Party 2 Glossier
- Party 2 Brokerage CBRE Group
- Party 2 Broker Sinclair Li; Daniel Wilpon
notes
Glossier, a skincare and makeup company, signed an 11-year lease for the entire 10th floor at One Soho Square.
- Event Office Leasing
- Address 233 Spring Street
- Neighborhood Soho
- Borough Manhattan
- Square feet 86,524
- Publication Date 05/01/2017
- Event Date 03/17/2017
- Party 1 Stellar Management
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Brian Waterman; David Malawer; Andrew Peretz; Brent Ozarowski
- Party 2 MAC Cosmetics
- Party 2 Brokerage CBRE Group
- Party 2 Broker Stephen Siegel; Greg Tosko; Munish Viralam; Sacha Zarba, Ariel Ball
notes
The floors 10-13, have been leased by MAC Cosmetics
- Event Sales
- Address 454 West 58th Street
- Neighborhood Hell's Kitchen
- Borough Manhattan
- Square feet 9,625
- Price $ 11,400,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 Icon Realty Management, Stellar Management
- Party 1 Brokerage Cushman & Wakefield
- Party 2 Brian Elgar
notes
The 11-unit multifamily property was sold for $5.4 million.
- Event Sales
- Address 1 Soho Square
- Neighborhood SoHo
- Borough Manhattan
- Square feet 750,000
- Price $ 650,000,000
- Price per foot $ 866.00
- Publication Date 10/01/2016
- Event Date 08/15/2016
- Party 1 Rockpoint Group
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Adam Spies, Douglas Harmon, Adam Doneger
- Party 2 Stellar Management
- Party 2 Brokerage Eastdil Secured
- Party 2 Broker Adam Spies, Douglas Harmon, Adam Doneger
notes
A 40% interest in the office and retail project sold for $650 million.
- Event Office Leasing
- Address 1 SoHo Square
- Neighborhood Soho
- Borough Manhattan
- Square feet 31,753
- Publication Date 09/01/2016
- Event Date 07/15/2016
- Party 1 Stellar Management
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Brian Waterman, Andrew Peretz, David Malawer, Brent Ozarowski, Courtney Adham
- Party 2 DoubleVerify
- Party 2 Brokerage TOWN Commercial
- Party 2 Broker Lori Shabtai, Jonah Katz
notes
The technology company signed a lease.
- Event Financing
- Address 522 Ocean Avenue
- Neighborhood Flatbush
- Borough Brooklyn
- Price $ 35,575,000
- Publication Date 05/01/2016
- Event Date 03/17/2016
- Party 1 Stellar Management
- Party 1 Brokerage Meridian Capital Group
- Party 1 Broker Tal Bar-Or, Kyle Kite
- Party 2 Astoria Bank
notes
The company secured a $35.575 million loan which included 65 Fort Washington Avenue, 4231 Broadway, 504 West 143rd Street, 510 West 144th Street, 529 West 179th Street and 2558 Grand Concourse.
- Event Office Leasing
- Address 161 Sixth Avenue
- Neighborhood Soho
- Borough Manhattan
- Square feet 26,022
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Stellar Management, Rockpoint Group
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Brian Waterman, Andrew Peretz, David Malawer, Brent Ozarowski, Courtney Adham
- Party 2 Managed by Q
- Party 2 Brokerage CBRE
- Party 2 Broker Ben Fastenberg, Ross Zimbalist
notes
The office management company singed a 10 year lease.
- Event Sales
- Address 123 Lafayette Street
- Neighborhood Soho
- Borough Manhattan
- Square feet 21,916
- Price $ 33,500,000
- Price per foot $ 1,528.56
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Stellar Management
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Robert Knakal, Robert Burton, Jonathan Hageman
- Party 2 First Atlantic Capital
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Robert Knakal, Robert Burton, Jonathan Hageman
notes
The office and retail building sold for $33.5 million.
- Event Sales
- Address 752 West End Avenue
- Neighborhood Upper West Side
- Borough Manhattan
- Price $ 146,000,000
- Publication Date 03/01/2016
- Event Date 01/01/2016
- Party 1 Crescent Heights
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Adam Spies
- Party 2 Stellar Management
- Party 2 Brokerage Eastdil Secured
- Party 2 Broker Adam Spies
notes
The 24-story property sold for $146 million.
- Event Retail leasing
- Address 806 Columbus Avenue
- Neighborhood Upper West Side
- Borough Manhattan
- Square feet 2,564
- Publication Date 07/01/2015
- Event Date 05/22/2015
- Party 1 Stellar Management, Chetrit Group
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Kelly Gedinsky, Charles Rapuano, Jeff Winick
- Party 2 Chipotle Mexican Grill
- Party 2 Brokerage Winick Realty Group
- Event Retail leasing
- Address 123 Lafayette Street
- Neighborhood Chinatown
- Borough Manhattan
- Square feet 1,356
- Publication Date 06/01/2015
- Event Date 04/22/2015
- Party 1 Stellar Management
- Party 1 Brokerage Stellar Management
- Party 1 Broker Andrew Stern
- Party 2 Love Hate Social Club
- Party 2 Brokerage RKF
- Event Sales
- Address 27 West 72nd Street
- Neighborhood Upper West Side
- Borough Manhattan
- Square feet 9,600
- Price $ 9,500,000
- Price per foot $ 989.58
- Publication Date 03/30/2015
- Event Date 02/18/2015
- Party 1 Stellar Management
- Party 1 Brokerage RKF
- Party 1 Broker Jeffrey Fishman, Ross Berkowitz
- Party 2 Jack Terzi
- Party 2 Brokerage RKF
- Event Sales
- Address 450 West 15th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 281,361
- Price $ 295,000,000
- Price per foot $ 1,048.48
- Publication Date 03/01/2013
- Event Date 01/20/2013
- Party 1 Stellar Management
- Party 1 Brokerage Eastdil Secured
- Party 1 Broker Douglas Harmon, Adam Spies
- Party 2 Jamestown Properties
notes
The property sold for $295 million. The deal involved a piece of seller financing, with Stellar providing a $150 million short-term loan to Jamestown, which appears in public records. The move was intended to help the deal close quickly, while giving Jamestown more time to iron out long-term financing, The Real Deal has learned.
- Event Sales
- Address 26 Vandam Street
- Neighborhood Soho
- Borough Manhattan
- Price $ 6,100,000
- Publication Date 02/01/2013
- Event Date 12/23/2012
- Party 1 Private investor
- Party 1 Brokerage Marcus & Millichap
- Party 1 Broker David Lloyd, Peter Von Der Ahe, Joseph Koicim
- Party 2 Stellar Management
- Party 2 Brokerage Marcus & Millichap
- Party 2 Broker Peter Von Der Ahe, Joseph Koicim, David Lloyd
notes
The property sold for $6.1 million. The price represents a capitalization rate of 4.1 percent.
- Event Office Leasing
- Address 32-00 Skillman Avenue
- Neighborhood Sunnyside
- Borough Queens
- Square feet 45,165
- Publication Date 02/01/2013
- Event Date 12/18/2012
- Party 1 Stellar Management
- Party 1 Broker Lawrence Smith
- Party 2 Prop N Spoon
- Party 2 Brokerage Studley
- Party 2 Broker Jarod Stern
notes
The props and furniture supplier for TV and movies signed a lease, the New York Post reported.
- Event Sales
- Address 111 Kent Avenue
- Neighborhood Williamsburg
- Borough Brooklyn
- Price $ 56,000,000
- Publication Date 07/01/2012
- Event Date 05/17/2012
- Party 1 Stellar Management, Largo Investments
- Party 1 Broker Woody Heller, Will Silverman, Eric Negrin, Daniel Parker
- Party 2 American Realty Advisors
- Event Sales
- Address 161 Sixth Avenue
- Neighborhood Soho
- Borough Manhattan
- Square feet 570,000
- Price $ 200,000,000
- Price per foot $ 350.88
- Publication Date 06/01/2012
- Event Date 04/22/2012
- Party 1 Earle Kazis, Ronald Mount
- Party 2 Stellar Management, Imperium Capital
- Party 2 Brokerage Eastdil Secured
- Party 2 Broker Douglas Harmon, Adam Spies
notes
The two buildings sold for $200 million, the New York Post reported. The buyers plan to combine the properties and modernize the facilities. Includes 233 Spring Street.
- Event Sales
- Address Upper West Side portfolio
- Neighborhood Upper West Side
- Borough Manhattan
- Price $ 630,000,000
- Publication Date 03/01/2012
- Event Date 01/16/2012
- Party 1 Stellar Management, Chetrit Group
- Party 1 Broker Doug Harmon
- Party 2 UDR, MetLife
- Event Office Leasing
- Address 712 Fifth Avenue
- Neighborhood Plaza District
- Borough Manhattan
- Square feet 75,000
- Publication Date 02/01/2012
- Event Date 12/23/2011
- Party 1 Stellar Management
- Party 1 Brokerage Newmark Grubb Knight Frank
- Party 1 Broker Michael Dreizen, James Kuhn, Brian Waterman
- Party 2 inVentiv Health
- Party 2 Brokerage CBRE
- Party 2 Broker Paul Myers, Michael Movshovich
notes
The healthcare consulting firm signed a long-term lease renewal and expansion.
- Event Office Leasing
- Address 450 West 15th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 75,000
- Publication Date 02/01/2012
- Event Date 12/18/2011
- Party 1 Stellar Management
- Party 1 Broker Michael Dreizen, Jimmy Kuhn, Brian Waterman
- Party 2 inVentiv Health
- Party 2 Brokerage CBRE
- Party 2 Broker Paul Meyers, Michael Movshovich
notes
The healthcare consulting firm signed a long-term lease renewal and expansion.
- Event Sales
- Address 111 Kent Avenue
- Neighborhood Williamsburg
- Borough Brooklyn
- Price $ 24,600,000
- Publication Date 05/01/2011
- Event Date 03/17/2011
- Party 1 Garrison Investment Group
- Party 2 Stellar Management, Largo Investments
- Event Office Leasing
- Address 2 Rector Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 1,500
- Publication Date 03/01/2011
- Event Date 01/20/2011
- Party 1 Stellar Management
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Frank Cento
- Party 2 Goldstein Capital
notes
The financial services firm signed a lease on the 17th floor.
- Event Office Leasing
- Address 2 Rector Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 4,000
- Publication Date 03/01/2011
- Event Date 01/20/2011
- Party 1 Stellar Management
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Frank Cento
- Party 2 NEE Consulting
notes
The accounting consulting firm signed a lease on the 12th floor.
- Event Office Leasing
- Address 2 Rector Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 17,945
- Publication Date 01/01/2011
- Event Date 11/22/2010
- Party 1 Stellar Management
- Party 2 Five Star Electric
- Party 2 Brokerage Grubb & Ellis
- Party 2 Broker Barrett Stern
notes
The electrical contractor signed a five-year lease.
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