Stone Street Properties | The Real Deal New York

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Stone Street Properties

599 Lexington Avenue, 36th floor
New York, NY 10022
(646) 795-3160
Website
info@sspny.com

Stone Street Properties is a real estate investment firm co-founded in 2011 by Jeffrey Kaye and Robert Morgenstern. Kaye had worked at the Gotham Organization, a real estate development and construction firm. Morgenstern had been a residential broker at Kleier Residential, formerly known as Gumley Haft Kleier. The co-founders named the firm after a street in the Financial District, where restaurants let patrons dine alfresco. In 2011, Stone Street, in partnership with Rockwood Capital, acquired a portfolio of 144,000 square feet for roughly $99 million from Icon Realty Management. The firm tends to gut renovate the buildings it acquires and to reconfigure the units inside them. In 2013, Kaye and Morgenstern sold a 21,849-square-foot building at 100-102 Christopher Street to rival developer DelShah Capital for $27 million, as well as a 26,480-square-foot property at 7-11 Cornelia Street to a Queens-based investor for nearly $24.6 million. In December 2014, the firm and Meadow Partners sold five connected walk-up buildings on Sohos Elizabeth Street to an unidentified buyer for $61 million. MK


11/21/16
...Morgenstern, founder of Morgenstern Capital and formerly of Stone Street Properties, purchased a 24-unit rental building at 629 East 5th Street for $16.2 million. The building’s...

05/23/16
...Jeff Kaye and Richard Birdoff) Jeffrey Kaye’s Stone Street Properties is in contract to acquire a nine-building multifamily portfolio spread across the Upper East...

01/29/16
...Jeffrey Kaye and Karl Slovin) Jeffrey Kaye’s Stone Street Properties closed this week on the purchase of a 47-unit Hell’s Kitchen rental building...

11/10/15
...Meserole streets. The investment firm is led by Stone Street Properties co-founder, Robert Morgenstern. 5.) Veracity Real Estate Management purchased a 16-unit walk-up building in Little...

10/29/15
...East 22nd Street in Gramercy, to Jeffrey Kaye's Stone Street Properties for $123 million...

10/16/15
...Myrtle Avenue in Bushwick Robert Morgenstern, co-founder of Stone Street Properties and head of Morgenstern Capital, and partner Valyrian Capital picked up a pair of...

09/25/15
...th Street in Union Square Jeffrey Kaye’s Stone Street Properties is following its acquisition of two Gramercy Park rental buildings with the $21.5 million purchase...

09/24/15
...Jeffrey Kaye and 210 East 22nd Street Jeffrey Kaye's Stone Street Properties just closed on the acquisition of two Gramercy Park rental buildings, at 210 and 220 East...

06/02/15
...million for the property  in 2012. 4.) Jeffrey Kaye’s Stone Street Properties purchased an 18-unit residential building at 350 West 18th Street in Chelsea for $10 million. The...

05/06/15
...in Manhattan and Brooklyn, for $131.5 million. The sellers, Stone Street Properties and HIG Realty Partners, paid $73 million for the portfolio in 2012. Previously, Kushner bought 17 buildings...

03/27/15
...s Boerum Hill. The sellers, a partnership between Stone Street Properties and HIG Realty Partners, paid just $73 million for the portfolio in 2012. The deal, which...

12/16/14
...its NYC holdings.) Kaye is a principal at Stone Street Properties, but did this deal independent of the firm.  (Note: Correction appended) (Source: ACRIS data...

12/16/14
...left: 268 Elizabeth Street, Steven Vegh and Robert Morgenstern Stone Street Properties sold its last five New York City holdings — five connected buildings on Soho's Elizabeth...

12/10/14
...is buying a 16-building portfolio for $131.5 million from Stone Street Properties and HIG Realty Partners. The portfolio includes 291 rental apartments and five retail properties, according...

09/02/14
...Street, according to Crain’s. The seller is Stone Street Properties, which purchased the buildings, along with one other property, for about $99 million in 2011, according...

01/23/14
...The Real Deal: 1. City’s nine richest developers  2. Stone Street Properties lists Manhattan portfolio for $150M  3. StreetEasy veteran Sofia Song moves to Urban Compass...

01/22/14
...Rob Morgenstern, Bob Knakal and 176 East 3rd Street Stone Street Properties, a real estate investment firm founded in 2011 by Jeffrey Kaye and Robert Morgenstern, spent...

12/31/13
...their relationships with several multi-family investors — among them Stone Street Properties, Silverstone Properties, Silvershore Properties and Benchmark Real Estate Group — who were particularly active this...

12/04/13
...Cornelia Street early last month, which previous owners Stone Street Properties purchased as part of a $32.6 million package in 2011, as The Real Deal reported. RockFarmer...

11/07/13
...The partners disclosed the deal, done through their Stone Street Properties, in an interview today with The Real Deal. Stone Street acquired the 26,480-square-foot property...

08/28/13
...is in contract to buy the building from Stone Street Properties...

03/25/13
...Manhattan. But about a dozen landlords – most recently Stone Street Properties and SMA Equities – have found that converting ground-floor apartments into retail space is far...

03/01/13
...Long Island City and in November partnered with Stone Street Properties to pay $33.5 million for 260-268 Elizabeth Street in Nolita. These three acquisitions were funded...

02/13/13
...Kleier Morgenstern's property investor husband Robert Morgenstern of Stone Street Properties was also spotted. Developer Daniel Brodsky and the building's designer, Bill Sofield, were said...

11/20/12
...Jeffrey Kaye and Robert Morgenstern of Stone Street Properties and 260-268 Elizabeth Street Hot on the heels of a recent $73 million acquisition, real...
  • Event Sales
  • Address 309 East 75th Street
  • Neighborhood Upper East Side
  • Borough Manhattan
  • Square feet 67,122
  • Price $ 86,000,000
notes
The multifamily portfolio sold for $86 million in a deal that included 351 East 82nd Street, 335 East 65th Street, 484 East 74th Street, 528 East 85th Street, 512 East 81st Street, 250 Washington Avenue, 260 Washington Avenue and 309 Washington Avenue.
  • Event Sales
  • Address 440 West 47th Street
  • Neighborhood Hell's Kitchen
  • Borough Manhattan
  • Square feet 37,000
  • Price $ 23,500,000
  • Price per foot $ 635.14
notes
The multifamily residential building sold for $23.5 million.
  • Event Sales
  • Address 210 East 22nd Street
  • Neighborhood Gramercy Park
  • Borough Manhattan
  • Price $ 123,000,000
notes
The two multifamily residential buildings, which include 220 East 22nd Street, sold for $123 million.
  • Event Sales
  • Address 16 East 18th Street
  • Neighborhood Union Square
  • Borough Manhattan
  • Square feet 19,000
  • Price $ 21,500,000
  • Price per foot $ 1,131.58
  • Publication Date 11/01/2015
  • Event Date 09/22/2015
  • Party 1 Ariel Associates
  • Party 1 Brokerage Ariel Associates
  • Party 2 Stone Street Properties
  • Party 2 Brokerage RES Commercial
  • Party 2 Broker Jeffrey Angel
notes
The property sold for $21.5 million.
  • Event Sales
  • Address 260 Elizabeth Street
  • Neighborhood Nolita
  • Borough Manhattan
  • Square feet 63,500
  • Price $ 61,000,000
  • Price per foot $ 960.63
notes
The mixed-use buildings sold for $61 million. Includes 262, 264, 266, 268 Elizabeth Street.
  • Event Sales
  • Address 420 East 66th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 100,000,000
notes
The properties sold for $100 million. The buildings are located at 420 East 66th Street, 336 East 81st Street, 344 East 85th Street and 404 East 88th Street. 4 apt. bldgs, 216 units total
  • Event Sales
  • Address Upper East Side portfolio
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 100,000,000
  • Event Sales
  • Address 100-102 Christopher Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 21,849
  • Price $ 26,750,000
  • Price per foot $ 1,224.31
notes
The 21,849 sf property sold for $26.75 million.
  • Event Sales
  • Address 410 East 64th Street
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Price $ 73,000,000
  • Price per foot $ 514.00
notes
The package of 14 Manhattan buildings and two Brooklyn properties sold for $73 million, or $514 per square foot. The Manhattan properties are located primarily in Murray Hill, on the Upper East Side and in the East Village. They include 101 MacDougal Street, 104 East 7th Street, 438-440 East 13th Street, 236-236 East 33rd Street, 410 East 64th Street, 319 East 78th Street, 233 East 82nd Street, 310 East 83rd Street, 325 East 83rd Street and 504 East 88th Street. The Brooklyn properties are located at 354-356 State Street in Downtown Brooklyn.
  • Event Sales
  • Building Name 260-268 Elizabeth Street
  • Address 260 Elizabeth Street
  • Neighborhood Nolita
  • Borough Manhattan
  • Price $ 33,500,000
notes
The package of adjacent buildings sold for $33.5 million. Includes 268 Elizabeth Street.
  • Event Sales
  • Address Manhattan and Brooklyn portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 73,000,000
  • Event Sales
  • Address 7 Cornelia Street
  • Neighborhood West Village
  • Borough Manhattan
  • Price $ 32,600,000
  • Price per foot $ 362,222.00
notes
The package of buildings at 100-102 Christopher Street, 7 Cornelia Street and 11 Cornelia Street sold for $32.6 million, or $362,222 per unit. The price represents a gross rent multiple of 12.1 and a capitalization rate of 6 percent.
  • Event Sales
  • Address 176 East 3rd Street
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 90,000,000
notes
The package of five rental buildings sold for $90 million. The properties are located at 176 East 3rd Street, 420 East 66th Street, 404 East 88th Street, 336 East 81st Street and 344 East 85th Street; the buildings have been renamed the Jesse, the Chase, the Hudson, the Lily and the Emma, respectively.
  • Event Sales
  • Address West Village portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 32,600,000
  • Event Sales
  • Address Manhattan portfolio
  • Neighborhood SoHo
  • Borough Manhattan
  • Price $ 90,000,000
Manhattan, 10018
GARDEN 35TH STREET, LLC
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