In a city like New York, real estate is a billion-dollar industry and developers have hundreds of projects and tens of thousands of units in the works. Land prices are high and development sites are scarce, which is pushing some developers into other parts of the city. In spite of those cold hard facts, however, there are still various top-notch Manhattan developers that continue to prosper; according to therealdeal.com, Manhattan projects outrank other borough developers by a substantial amount.
Founded by Raphael Toledano, Brookhill Properties is rapidly gaining popularity as a premiere East Village landlord and real estate developer. Last year Brookhill Properties became the largest landlord in the East Village when they purchased a property from the Tabak/Garfinkel family, and Toldeano is looking to add more properties to his portfolio.
As the youngest landlord in the city, Toledano is excited to work specifically on the East Village and partnering with the community to make the East Village a great place to live.
The Related Companies
The Related Companies was founded by Stephen M. Ross in 1972. Best known for developing the Time Warner Center, where Ross lives and works, and the Hudson Yards Redevelopment Project, Related is the largest owner of luxury residential rentals in NYC.
In addition, they purchased Equinox in 2006 to help the company expand and developed a partnership interest in Union Square Events in 2011 to assist in developing, leasing, selling and managing its properties. In 2014, Related made an investment in CORE. This affiliation has helped to expand the company’s capabilities for resales in the buildings it has developed.
Extell Development Company
Founded by Gary Barnett in 1989, Extell Development Company is a developer of various properties including residential, commercial, retail, and hospitality. Some high-profile developments in the works for 2016 are Bajarke Ingels’ 57th Street pyramid, the conversion of Ralph Walker’s Tribeca masterpiece, and 70 Charlton, the first new residential project in Hudson Square since the neighborhood was rezoned in 2013.
El Ad Holding, Inc.
El Ad Holding, Inc. is part of the Tshuva Group and is also another major NYC developer. Originally, Tshuva focused on areas such as Tribeca, the Upper West Side, and Chelsea with an emphasis on luxury residential buildings but they have also converted and upgraded several historically known buildings. The biggest project, perhaps, was the purchase of the landmark Plaza Hotel that was restored as part of a $400 million renovation.
HFZ Capital Group
Formed in 2005, HFZ Capital Group is one of the biggest luxury residential condominium developers in Manhattan. Founded by Ziel Feldman, the company is currently working on projects that span from Central Park to Wall Street and consisting of over 6 million-square feet.
HFZ has a reputation that stands out positively from other developers as they restore and preserve historic buildings, many of which can be found in the East Village. Raphael Toledano is familiar with the residences located in many of these historic buildings.
The Moinian Group
The Moinian Group, founded by current CEO Joseph Moinian is a unique real estate entity because they own, operate, and develop properties in a wide variety of asset categories. Their portfolio is 20 million-square feet ranging from offices and hotels to retail spaces and condos. The achievements of the Moinian Group dates back three decades to when they acquired loft buildings in the Flatiron District and Midtown South and converted them to high-end office space.
Identifying new space that has powerful growth potential has continued to be the method that the Moinian Group uses in order to stay successful. Most recently, they have been focusing on lower Manhattan, and their downtown investments have made the Moinian Group one of the area’s largest private landlords.
Sumaida + Khurana
A newer couple of developers Saif Sumaida and Amit Khurana formed Sumaida + Khurana just a few years ago. Having worked with architects like Japan’s Tadao Ando, the company focuses on projects that will create visually pleasing additions to the city, designed by leading architects from around the world.
Currently, they are working with another architect, Alvaro Siza from Portugal, on a 34-story, 80-unit Hell’s Kitchen condo on 56th Street. Construction will begin this summer and the building is slated to be complete by 2019.
JDS Development Group
JDS Development Group is a top real estate developer in Manhattan. The company is rare in that they also perform all of the construction on their own projects. JDS has over seven million square feet of property, most notably, Walker Tower on First Avenue near the East Village, where Raphael Toledano showcases properties including multi-family and mixed-use buildings, and Steinway Tower on 57th Street, the tallest residential tower in the Western Hemisphere.
To learn more about real estate development in Manhattan, specifically in the East Village, contact Raphael Toledano.