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Stanley Chera

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

Stanley Chera is a New York real estate developer and founder of Crown Acquisitions. He  was born in 1942 to a Syrian Jewish family.
Chera started purchasing real estate in New York City in the 1908s, at first as a minority partner and, in the 2000s, as the lead developer. He is known for developing or "repositioning" the retail portion of his buildings and then selling the properties.
In a joint venture with the Carlyle Group and Charles Kushner, he sold the retail portion of 666 Fifth Avenue in two transactions for more than $1 billion.

In 2010, he began the restoration of the the Knickerbocker Hotel in Manhattan. In June 2013, Chera purchased 650 Madison Avenue for $1.3 billion in partnership with Highgate Holdings from the Carlyle Group. He is an investor in One World Trade Center and has accumulated a lot of property in Red Hook, Brooklyn.
Chera's Crown was also part of a large partnership that included Feil Organization and BLDG Management, which sold the retail at the St. Regis Hotel at 2 East 55th Street in 2012 for $380.6 million three years after buying it for $117 million.
In 2009, Crown held 15 million square feet of real estate in New York City.

Chera has three sons: Haim Chera, Isaac (Ike) Chera and Richard Chera, who are all active in the family business.

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, Principal
767 Fifth Avenue, New York City, NY, (212) 563-6400
Haim 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...
  • Event Sales
  • Address 590 Fifth Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 100,000
  • Price $ 54,000,000
  • Price per foot $ 540.00

12/30/2015
Brooklyn's largest retail leases in 2015 (click to expand) The Brooklyn retail market had a relatively quiet 2015 when it comes to king-sized leases. Compared to 2014 -- Brooklyn's largest retail leases in 2015 (click to expand) The Brooklyn retail market had a relatively quiet 2015 when it comes to king-sized leases. Compared to 2014 --...

10/01/2015
Zara parent Inditex also recently bought a roughly 47,000-square-foot retail condo at 503-511 Broadway for $280 million. That comes off the heels of its blockbuster 2011 deal to buy for a $324 million retail condo at 666 Fifth Avenue from Stanley Chera’s Crown Acquisitions, the Carlyle Group and Kushner Companies...

12/01/2014
From left: Stanley Chera, Jeff Sutton and Steven Roth With Upper Fifth Avenue snatching back from Hong Kong’s Causeway Bay the title as the world’s From left: Stanley Chera, Jeff Sutton and Steven Roth With Upper Fifth Avenue snatching back from Hong Kong’s Causeway Bay the title as the world’s...

10/01/2010
Cipriani Club Residences at 55 Wall StreetOver the past two years, companies like SL Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted Cipriani Club Residences at 55 Wall StreetOver the past two years, companies like SL Green Realty Trust and investor Sam Zell’s Equity Residential have trumpeted...