New York City, NY
Street-Works team members entered a joint venture equity investment with an operating partner to design, construct and market a $75 million 20-story residential condominium structure with ground-floor retail in New York City’s Upper West Side. Pursuant to New York’s inclusionary housing program, this transaction included off-site development of affordable housing units in exchange for an increase in buildable floor-area-ratio.
The investment was successfully harvested within three years through the sale of the residential units and the lease up and sale of the ground-floor commercial condominium.
A $25 million, 75,000 square foot retail shopping center was the outcome of a joint venture equity investment between Street-Works team members and a California-based developer. Initial capital was invested during land assemblage, and took the project through design, lease-up, construction, and stabilization. Located in the North Hills community of Los Angeles, this retail center is anchored by AJ Wright and features a Starbucks and Bank of America, as well as several independently-owned restaurants.
The asset was successfully sold at a multiple on invested capital to an institutional investor within two years of investment.
Street-Works team members led a $40 million joint-venture equity investment to acquire a portfolio of approximately 500 multifamily units located throughout Northern New Jersey.
The portfolio was successfully sold after a 5-year hold period and achieved a multiple on invested capital.