Stellar Management | The Real Deal New York

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Stellar Management

156 William Street, 10th Floor
New York, NY 10038
(212) 406-0030
Website
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 Harlem’s 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.


12/30/16
This story was co-published with ProPublica. In 2014, an obscure campaign in the foothills west of Albany between a sheep farmer and a home builder...

11/29/16
...Gluck and 218-220 Fifth Avenue in NoMad Larry Gluck’s Stellar Management and Imperium Capital are close to entering contract to acquire...

10/27/16
...Singer Selena, rendering of One Soho Square and Larry Gluck Stellar Management is close to signing the biggest tenant yet to its...

09/26/16
The Chetrit Group and the estate of late developer Henry Zilberman sold a 72-unit Bedford-Stuyvesant rental building to Brooklyn investors Mordechai Spira and David Katz...

09/19/16
...and 78-92 Kingsland Avenue in East Williamsburg 1.) A partnership between Stellar Management and Terrence Lowenberg’s Icon Realty Management picked up a...

08/15/16
...Larry Gluck and rendering of One Soho Square Larry Gluck's Stellar Management has bought out former partner the Rockpoint Group and brought...

08/15/16
...credit: Neoscape) A tech firm is taking 32,000 square feet at Stellar Management...

08/08/16
UPDATED: Aug. 8, 4:15 p.m.: Don’t count Equity Residential among the landlords who fervently oppose Airbnb’s controversial business model. A new lawsuit says the real...

06/29/16
“The Spinnaker,” “The Veritas,” “The Gallica” — those are just a few shiny new names CBRE is pitching for Kips Bay Court, an 894-unit former...

05/11/16
...last week to nearly 700 units at the Chetrit Group and Stellar Management...

04/28/16
From the April issue: This month, The Real Deal profiled six of the nine judges on the Supreme Court’s Commercial Division bench — focusing on...

abandoned condos feature
04/26/16
The best-laid schemes of mice and developers oft go awry. Yesterday, The Real Deal exclusively reported the Chetrit Group sold the Sony Building – the...

04/20/16
The candidate expected to win former State Senate majority leader Dean Skelos’ seat had the backing of some of New York City’s biggest names in real...

04/06/16
Last month, it was a Department of Building denial for a permit application. This month, the Landmarks Preservation Commission doesn’t appear too keen on the...

03/24/16
UPDATED: March 24, 10:58: American Realty Capital’s New York City REIT is taking over the ground lease at the 22-story office building at 1140 Sixth Avenue in...

03/08/16
Jared Kushner’s Kushner Companies and CIM Group will soon part with one of their marquee New York assets. Tags: 2 rector street, adam spies, cim...

03/03/16
It appears the city isn’t too fond of Russian billionaire and Chelsea Football Club owner Roman Abramovich’s well-publicized plans for an Upper East Side mega...

02/12/16
...a slowdown 2. Lender Apollo defends economics of 111 West 57th St. 3. Stellar Management sues Raphael Toledano for ditching $130M loan on EV deal...

Raphael Toledano and Larry Gluck
02/10/16
...Street and Larry Gluck An affiliate of Larry Gluck’s Stellar Management is suing Raphael Toledano, claiming the investor accepted a $130 million...

Larry Gluck 123 Lafayette Street thumb
01/20/16
...Larry Gluck and 123 Lafayette Street in Soho Larry Gluck's Stellar Management tripled its money at 123 Lafayette Street after just three years...

12/17/15
A&E Real Estate Holdings has cut a $201 million deal with the city to buy a Harlem housing complex that will keep nearly 1,000 affordable...

Jonathan Gray
12/03/15
...on the asset for close to $100 million. Rockpoint Group and Stellar Management were the previous owners, but defaulted on the leasehold during...

11/24/15
Ofer Yardeni’s Stonehenge Partners is in contract to buy a large Upper West Side rental building known at the Bradford for $135 million, according to...

Short term rentals
10/20/15
...Short Term Rentals NYC From the October issue: Stellar Management’s Larry Gluck was not pleased to learn earlier this...

09/16/15
...a while and sell. It depends on the market. Gluck's Stellar Management is in contract to spend $150 million on the 24-story, 175-unit...
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Stellar Management, Chairman and CEO
156 WILLIAM STREET, New York, NY, 212-406-0030
Laurence Gluck, who goes by Larry, is the co-founder, chairman, and chief executive...
  • 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
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
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
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
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
notes
[EMPTY]
  • Event Retail leasing
  • Address 123 Lafayette Street
  • Neighborhood Chinatown
  • Borough Manhattan
  • Square feet 1,356
notes
[EMPTY]
  • 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
notes
[EMPTY]
  • 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
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
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
notes
[EMPTY]
  • Event Sales
  • Address 161 Sixth Avenue
  • Neighborhood Soho
  • Borough Manhattan
  • Square feet 570,000
  • Price $ 200,000,000
  • Price per foot $ 350.88
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
notes
[EMPTY]
  • Event Office Leasing
  • Address 712 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 75,000
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
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
notes
[EMPTY]
  • Event Office Leasing
  • Address 2 Rector Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 1,500
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
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
notes
The electrical contractor signed a five-year lease.
  • Event Sales
  • Address 666 West End Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 68,000,000
  • Publication Date 01/01/2011
  • Event Date 11/22/2010
  • Party 1 Zarucki Family
  • Party 2 Stellar Management
notes
The sale of the prewar building closed for $68 million.
  • Event Sales
  • Address 49 Crown Street
  • Neighborhood Prospect Park
  • Borough Brooklyn
  • Price $ 9,500,000
notes
[EMPTY]
  • Event Sales
  • Address 5 West 91st Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 16,750,000
notes
The former Mitchell-Lama building sold for $16.75 million. The seller acquired the property in June 2006 for $14 million.
  • Event Retail Leasing
  • Address 795 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 5,700
notes
The home furnishings retailer signed a 10-year lease.
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