Empire Capital?and?Namdar Realty Group LLC?have agreed to buy?Related Companies Fund Management’s 10-story, 220,000-square-foot office building at?321 West 44th Street?for less than $50 million — a roughly?67 percent decrease from Related’s purchase of the property in 2018. Read more: https://lnkd.in/edf_2thP
关于我们
Empire is an independent private partnership of investment professionals with hands-on experience and capital market expertise. Empire professionals have overseen extensive investments and joint ventures and have invested with a focus on commercial real estate through a broad range of opportunistic investments. Empire professionals have built a successful track record across multiple asset classes and market cycles. Empire’s professionals are a high energy, results oriented team, allowing us to carefully analyze and act quickly as circumstances warrant. Empire professionals have structured complex real estate investments and joint ventures establishing a strong track record across multiple asset classes. Empire’s approach targets both income-producing and opportunistic assets in New York City, both independently and as participants in joint venture opportunities. Strategy Income Producing Opportunities Empire invests in income-producing assets with the following characteristics: High-Quality/Creditworthy Tenancy Future Conversion or Repositioning Potential Sale-Leaseback Arrangements Transitioning submarkets with statistical and circumstantial evidence suggesting significant growth Assets with inefficient management requiring new leasing strategies, active management, physical capital improvements, and opportunities to renegotiate undervalued leases Unique architectural features or historical significance Value-Add Opportunities Empire also executes conversions and repositioning projects to realize the highest and best use of an asset, including: Opportunities to bifurcate mixed-use assets to sell the retail, residential or office components in separate transactions while retaining others at a reduced basis Distressed assets requiring an expedited sale due to external circumstances Acquisition of existing assets for conversion below replacement cost Repositioning existing assets to realize highest and best use Development assemblage opportunities (simultaneous transactions with multiple owners of adjacent lots) Acquisition of loans
- 网站
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https://www.empirecapitalholdings.com
Empire Capital Holdings的外部链接
- 所属行业
- 商业地产
- 规模
- 2-10 人
- 总部
- New York,New York
- 类型
- 私人持股
- 创立
- 2004
- 领域
- Commercial Real Estate Acquisitions和Real Estate Investment
地点
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主要
141 West 36th Street
17th Floor
US,New York,New York,07059
Empire Capital Holdings员工
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Josh Arash Rahmani
Founder at Think Empire / Empire Capital Holdings / CRE investments & RE-tech
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David Yomtobian
VP of Executive Relations at Empire Capital Holdings
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Ebi Khalili
Founding Partner / Principal at Empire Capital Holdings
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Aaron Bergman
Partner, Chief Operating Officer at Empire Capital Holdings
动态
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A Manhattan office building is set to be sold at a roughly 67% discount, signalling just how far values may have fallen for certain properties. Empire Capital and Namdar Realty have agreed to buy 321 W. 44th St. from Related Fund Management for less than $50 million, a massive drop from the $153 million that Related purchased the building for in 2018. The market largely froze up over the past two years as lenders and owners struggled to agree on pricing, holding onto assets instead of being forced to sell at fire-sale prices. But looming maturities and rising costs are starting to push more owners to cut their losses. Read more Bloomberg News