We are experienced New York City investors and developers: We own and manage a number of buildings in New York (Manhattan, Brooklyn and Queens) as well as in London. We are discriminating in what we buy but we have the experience, relationships and expertise to close a transaction quickly if we commit to a project.
We purchase core-plus properties in the $2M-$50M range but will consider larger projects with our partners if we like the opportunity. Although we prefer higher CAP rates, we are value-add development and refurb specialists who like to create and/or improve superior yields.
Whilst we like to hold our projects for the long term, we are not interested in acquiring turn-key or fully stabilized assets. We are not put off by difficult or distressed situations; we often purchase occupied properties even if they have rent-stabilized, rent-controlled or non-paying/problem tenants. However, we prefer that there be some vacancies or upside. We purchase property “as is”, even with mechanical/structural issues or violations and we can close quickly, often in under 30 days and with no mortgage contingency.
We work closely with brokers who are loyal to us and who bring us off market situations. Being a Family Office affords us the flexibility to make quick decisions and to perform. We are ethical and we close when we say we will. Our fast decision making allows us to provide the surety of a successful transaction to sellers and brokers in the shortest amount of time.
We prefer to buy in up and coming, hip areas and are particularly active in the Lower East side, Long Island city, and many parts of Brooklyn but we are open to the whole New York City Metro Area as well as other select submarkets in the US.