The cornerstones of Sterling Equities' business are prime-location properties, private equity and baseball. The firm in 1980 acquired an interest in the New York Mets, and in 2002 it became the ball club's full owner (it also owns SportsNet New York, a regional sports television network it formed in 2005). However, Sterling Equities' real estate holdings are the firm's bread and butter, having developed nearly 25 million square feet of commercial property over the years. Sterling Equities was founded in 1972 by Fred Wilpon and Saul Katz, and within two years it had expanded from New York City to include other such cities as Chicago, St. Louis and Atlanta. Over the years the firm has developed a number of Class A properties, including the towers at 575 Fifth Avenue and 450 Lexington Avenue. Its real estate savvy helped the firm build Citi Field $40 million under budget, as well as take over development of the massive Willets Point project. Not-so-savvy investment decisions led the firm to become embroiled in the Bernie Madoff scandal, however, and the firm in 2012 settled a lawsuit that alleged that Sterling invested in Madoff's Ponzi scheme even though it knew the returns were fraudulent.
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111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800

111 Great Neck Road, Great Neck, NY, 516-773-3800
- Event Sales
- Address 1378-1384 Bedford Avenue
- Neighborhood Crown Heights
- Borough Brooklyn
- Square feet 38,400
- Price $ 25,100,000
- Price per foot $ 653.00
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 Cornell Realty Manage
- Party 2 Sterling Equities
- Event Sales
- Address 15-25 Crown Street
- Neighborhood Crown Heights
- Borough Brooklyn
- Square feet 51,000
- Price $ 20,800,000
- Price per foot $ 407.84
- Publication Date 03/01/2016
- Event Date 01/01/2016
- Party 1 BCB Property Management
- Party 2 Sterling Equities
- Party 2 Brokerage TerraCRG
- Party 2 Broker Adam Hess
- Event Sales
- Address 28 East 10th Street
- Neighborhood Greenwich Village
- Borough Manhattan
- Square feet 8,426
- Price $ 10,350,000
- Price per foot $ 1,228.34
- Publication Date 09/01/2010
- Event Date 07/23/2010
- Party 1 Chesire Group, Sterling Equities
- Party 1 Brokerage Eastern Consolidated
- Party 2 Brodsky Organization
- Event Sales
- Address Clearwater portfolio
- Borough Manhattan
- Price $ 95,000,000
- Publication Date 10/01/2005
- Event Date 08/22/2005
- Party 1 Sterling Equities
- Party 2 YL Realty, Nathan Halegua, Martin Newman, Jonis Realty, Serge Hoyda
- Event Sales
- Address 575 Fifth Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 520,000
- Price $ 385,000,000
- Price per foot $ 740.38
- Publication Date 07/01/2005
- Event Date 05/22/2005
- Party 1 Sterling Equities, CS First Boston, Middle Eastern partner
- Party 1 Brokerage CBRE
- Party 1 Broker Darcy Stacom, William Shanahan
- Party 2 Met Life
- Event Office Leasing
- Address 145 Second Avenue
- Neighborhood East Village
- Borough Manhattan
- Square feet 1,800
- Publication Date 08/01/2004
- Event Date 06/22/2004
- Party 1 Sterling Equities
- Party 1 Brokerage Sterling Equities
- Party 1 Broker Elizabeth Pepin, James Seiler
- Party 2 Starbucks
- Party 2 Brokerage Northwest Atlantic Real Estate Services
- Party 2 Broker David Firestein
15 CROWN STREET LLC
835 FRANKLIN II LLC
Sterling Equities
Sterling Equities, 298 EAST VILLAGE OWNER LLC
Sterling Equities, 337 CST 9 OWNER LLC
Sterling Equities, 298 EAST VILLAGE OWNER LLC
Sterling Equities, 337 CST 9 OWNER LLC