Haim Chera | TRD Research
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Haim Chera

Principal
Crown Acquisitions
767 Fifth Avenue
New York City, NY
(212) 563-6400
Website

Haim Chera is a principal in Crown Acquisitions and one of three sons of its founder, Stanley Chera.
The Chera family started in the apparel business and invested in the buildings that housed its chain of children's clothing stores, known as Young World, founded by patriarch Isaac Chera. By the late 1980s, Isaac's son Stanley, founder of Crown Acquisitions, was investing in major Manhattan real estate. Much of the day-to- day operation of the firm is now handled by Stanley's three sons, Isaac (known as Ike), Haim and Richard.
Isaac and Richard Chera attended New York University, and Haim Chera attended Hofstra University and the Wharton School of the University of Pennsylvania. Their spring and summer breaks were spent working with the family.

In 2013, Haim Chera partnered with Highgate Holdings to buy the 600,000-square-foot tower at 650 Madison Avenue for a reported $1.29 billion. The building occupies the full Madison Avenue frontage between 59th and 60th Streets. Adding to its retail value, the 27-story building is at a pedestrian juncture leading from the top of the city's priciest retail strip, Upper Fifth Avenue, to the base of Madison Avenue's prime corridor, which runs from 57th Street to 72nd Street. Retail asking rents jumped 11 percent in that stretch from 2012 to 2013, according to The Real Deal, to $1,217 per foot.

For Crown, the decision to buy the tower from Washington, D.C.-based private equity firm Carlyle Group "was heavily weighted on the fact that we think the retail is worth $1 billion," Haim Chera said at the time.

Crown Acquisitions, Founder
767 Fifth Avenue, New York City, NY, (212) 563-6400
Stanley Chera is a New York real estate developer and founder of Crown...
Crown Acquisitions, Principal
767 5th Avenue, New York City, NY, (212) 563-6400
Isaac Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, Prinicipal
767 Fifth Avenue, New York City, NY, (212) 563-6400
Richard Chera is a principal in Crown Acquisitions and one of three sons...
Crown Acquisitions, COO
767 5th Avenue, New York City, NY, (212) 563-6400
Brittany Bragg is the chief operating officer of Crown Acquisitions. she was hired...

07/01/2016
“Generally speaking, it takes somebody with retail expertise, experience and tenant relationships to achieve what’s been accomplished along Fifth Avenue in these buildings,” said Woody Heller, head of the capital markets group at Savills Studley. “That’s the reason Haim Chera, Jeff Sutton, Joe Sitt and the others in that tight retail circle have been so successful.” Heller noted that whether the projects planned for Fifth Avenue actually proceed depends largely on if the developers secure financing...

01/01/2014
“We think the retail will be valued at $1 billion,” within five years, said Haim Chera, a principal with Crown...

12/01/2012
Click to enlarge Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care Click to enlarge Typically, investment sales deals are ranked by the sale price, but that emphasis hides the figure that real estate players truly care...