UPDATE, Tuesday September 4, 1:41 p.m.: Caspi Development and its partners sold two Bowery office buildings to national developer and landlord Marx Realty for a combined total of $48.5 million. The properties are located one block away from one another at 135 and 161 Bowery on the Lower East Side and were owned by a …
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PRESS & NEWS
Recent Commercial Real Estate Transactions
A commercial building at 134-136 Broadway in Williamsburg, Brooklyn, sold for $18.85 million.Credit Michael Sherman RECENT SALE $18.85 MILLION 134-136 Broadway (at Bedford Avenue) Williamsburg, Brooklyn A development partnership, which is also working on a new luxury hotel going up at 456 Greenwich Street in TriBeCa, plans to renovate this six-story corner commercial building. The …
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DPW Holdings Acquires Ownership in Legendary European Hotel’s American Debut
Ultra-Luxury Brand in Premier Lower Manhattan Neighborhood Planned as Long-Term Core Hospitality Holding NEWPORT BEACH, Calif., May 25, 2018 (GLOBE NEWSWIRE) — DPW Holdings, Inc. (NYSE: DPW) (“DPW” or the “Company“), a diversified holding company, will acquire a minority interest in a partnership that intends to construct a five-star ultra-luxury Manhattan hotel development, investing alongside …
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Caspi planning boutique Williamsburg office development
Caspi Development and MacTaggart Family & Partners LP have purchased a 23,064 s/f corner Williamsburg office building in deal brokered by Michael Sherman of The Manhattes Group. The buyers intend to turn the property into a boutique office building for high tech and creative office tenants. MICHAEL SHERMAN Originally built in 1901 for the Nassau …
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Luxury Hotel Breaks Ground in Tribeca
The partnership, including Caspi Development, Mactaggart Family & Partners and Barone Management, expects to deliver the 96-key Manhattan property in 2020. by Gail Kalinoski | Dec 28, 2017 Left to right: Joshua Caspi, principal of Caspi Development; Scott Barone, founder of Barone Management; and Ivaylo Ninov, managing director of Mactaggart Family & Partners The developers of an …
New Hotel at 456 Greenwich Street in Tribeca Officially Breaks Ground
It’s been more than two years since we’ve heard any news about 456 Greenwich Street, a large eight-story hotel development that’s been inactive since the extant structures were demolished. The silence was broken Friday, December 22nd, when Caspi Development, Mactaggart Family & Partners, and Barone Management celebrated the official groundbreaking in Tribeca. Approved design for …
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Think Small: How Manhattan Office Landlords Are Courting the Market for Modest Space
From small-scale studios to prebuilts, property owners look to appeal to a shifting ‘small-user paradigm’ By Rey Mashayekhi November 1, 2017 9:45 am In the New York City office market, the big deals get all the attention. Landlords usually covet major six-figure-square-footage users who can lock down large blocks of space at their buildings, bringing with …
Chicago’s Renowned Au Cheval Will Open in New York City Next Year
What started as a glimmer of hope back in May is now official: New York City is getting an outpost of Au Cheval, the Chicago diner with a perennial hours-long wait and one of America’s most critically acclaimed burgers. When owner Brendan Sodikoff first showed interest months ago in the space (79 Walker Street, in …
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Can anyone spare a billion? Here are five trophy buildings that could have sold in early 2017 — but didn’t
Manhattan’s investment sales market had a rough first half of the year In New York real estate, late July is traditionally a time for reflection. Brokerages churn out their mid-year market reports, while executives chopper off to the Hamptons to lie on the beach and fondly recall their best deal-making moments. But in 2017, there …
79 Walker Street Becomes Wired Certified Silver
79 Walker Street New York, NY 10013 Key Features of Connectivity WiredScore wiredscore.com •Stealth Communications is providing dedicated, business grade fiber optic internet connectivity available for tenants. •Towerstreamhas confirmed that they will be able to provide fixed wireless internet access to tenants in the building with a signed contract. Fixed wireless is a form of …
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135 Bowery Street Becomes Wired Certified Silver
135 Bowery New York, NY 10002 Key Features of Connectivity WiredScore wiredscore.com FACT SHEET •Pre-installed fiber optics via Stealth Communications providing tenants with high speed, dedicated internet service. •Protected access to the exterior street infrastructure ensuring that tenants can seamlessly order internet service from multiple high speed fiber optic service providers. •Fixed Wireless “over the …
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Hit Chicago Diner Au Cheval Eyes Tribeca for NYC Location
Au Cheval’s burger is considered one of the best in the world Looks like hip Chicago restaurateur Brendan Sodikoff might be opening his best-known restaurant and acclaimed burger destination Au Cheval in Tribeca. At tonight’s Community Board 1 meeting, Sodikoff’s team pitched a New York location of the restaurant for a space at 79 Walker …
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A Restaurant in ChiBeCa
The most intriguing item on Community Board 1’s May agendas—annotated rundown to follow—is a proposed restaurant in the micro-neighborhood of ChiBeCa, long a restaurant dead zone. It’s at 79 Walker (at the southeast corner of Cortlandt Alley), formerly the site of the Art in General gallery. The building was bought in October by Caspi Development …
East Village Noodle Bar Owner Opening ‘Tang Hotpot’ at 135 Bowery
The saga of 135 Bowery is entering its next chapter. Already established as a tech incubator of sorts in the year-and-change since Caspi Development took control, the ground level of this former flashpoint property had remained bereft of permanent occupancy. Aside from a handful of pop-up establishments (e.g. Nike), it remained largely dormant with perennial …
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Owners accommodate Breather space
Breather, a provider of on-demand, flexible workspace, continues to expand throughout New York City offering meeting spaces to the TAMI sector and corporate users. The company opened two new locations in New York City at 135 Bowery, its 100th location, as well as 576 Fifth Avenue. Breather has set up four flexible meeting spaces at …
Caspi buys a commercial Tribeca property
Here’s what the $10M-$20M NYC investment sales market looked like last week Caspi buys a Tribeca commercial property; TF Cornerstone nabs Gap, FedEx buildings in Astoria October 24, 2016 04:19PM By Kyna Doles 79 Walker Street in Tribeca, Joshua Caspi and rendering of Compass Residences in the Bronx 1.) Westchester-based developer Caspi Development and RWN …
Breather Launches On-Demand Workspace Concept at 135 Bowery
A building with a controversial past has become the newest New York location for Breather, a startup that provides on-demand meeting rooms in 10 cities worldwide. Last night, there was a celebration on the fifth floor of 135 Bowery, where Breather has set up four flexible spaces that can be rented by the hour. It’s …
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Mark Fisher Fitness Opening ‘Ninja’ Clubhouse at 161 Bowery
The burgeoning Bowery incubator will soon welcome a quirky new gym. As previously reported, Caspi Development is single-handedly seeking to create a Bowery tech sector with 135 and 161 Bowery. Both properties were converted into luxury offices for start-up tenants like Kik Interactive. Now the latter property is adding a boutique gym to its ranks. …
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Daniel Sanborn’s legacy lives on in historic Pelham building
When Daniel Sanborn began mapping towns 150 years ago, no one could have foreseen how his maps would continue to be used today. Nor could anyone have foreseen how the company’s headquarters that opened in Pelham in 1907 would be adapted to modern uses. Sanborn made fire insurance maps. They seem ordinary at first glance …
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Caspi Named to MHA Board
The Mental Health Association of Westchester (MHA) recently appointed Joshua Caspi to its board of directors. Principal of Caspi Development, he said, “I am looking forward to being part of The Mental Health Association of Westchester. Their potential to grow even more exponentially over the next decade is exciting and MHA is an incredible place …
‘Sanborn Map Building Day’ celebrates Pelham-based company’s historic milestone
Dating back to 1904, mapmaker is longest running, most successful in country If you’re looking at a map, there’s a good chance it was made by the Sanborn Map Company. The company’s building, which is located on Fifth Avenue in Pelham, achieved a major milestone Wednesday. The Sanborn Map building, which dates back to 1904, …
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Pelham’s Historic Sanborn Map Building Welcomes Five New Tenants
Pelham, N.Y. (PRWEB) March 22, 2016 Caspi Development, a leader in residential and commercial real estate ownership, management and development, is proud to announce the newest tenants to the historic Sanborn Map Building, a 75,000 square foot loft-style office building at 629 Fifth Avenue in Pelham. King & King LLP, a construction law practice, occupied …
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Permit extension sought for Nestlè site in White Plains
WHITE PLAINS – Renovations of the former Nestlè Co. headquarters are complete and the owners are now asking the city for a one-year extension on their permit to build boutiques and a restaurant with outdoor dining. The first phase of the $30 million makeover at 120 Bloomingdale Road saw construction of a new facade, conference …
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Rye Town considering five options to run park
The Town of Rye is looking to orchestrate a similar deal the county made with Standard Amusements to run Playland. TOWN OF RYE – Officials are once again seeking a contractor interested in running Rye Town Park, hoping to turn the struggling shoreline property next to Playland into a profit generator for the town. For …
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Street Artist FAUST Gets Big Ups with Bowery Tag
The real estate firm that brought Shepard Fairey to the heights of Bowery in 2014 (“The future is ours”) is going big again. Caspi Development just commissioned street artist FAUST to add a touch of cursive to another of its properties. Just a block to the south. Last Friday, in his signature script, FAUST scrawled …
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The Lower East Side goes upscale
Big developments target millenials, Asian buyers and value seekers February 01, 2016 By Adam Warner From left: Isaac Henderson, Deborah Gutoff and Josh Caspi The Lower East Side, a neighborhood long associated with counterculture, after-hours bars and rusty tenements, is getting a glossy makeover. “The most surprising aspect of the Lower East Side’s transformation is …
Marolda sells three-building LES package
UPDATED, 2:52 p.m., Nov. 30: Caspi Development and Black Bear Asset Management bought a three-building package on the Lower East Side from Marolda Properties for $24.4 million. Marolda, a Chinatown-based landlord run by Lawrence Marolda, more than doubled its money with the purchase, having paid $9.8 million in 2012 to a family that had owned …
Caspi Development, Black Bear Join Forces
NEW YORK CITY—Caspi Development and Black Bear Asset Management have entered a strategic partnership to acquire multifamily properties in Manhattan and Brooklyn. Through the partnership, Caspi will act as property developer and operator, with BBAM serving as the capital provider for all projects. “Our company has a long history of identifying distressed and underutilized properties …
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These Investors Hope to Transform the Bowery into a New Tech Sector; Nike Adds Holiday Pop-Up Shop There
Posted on: November 12th, 2015 at 5:18 am by Elie Catching up on some news from a few weeks ago. Flashpoint Chinatown property, 135 Bowery, finally changed hands last month after more than three years on the market. The brick property, located just north of Grand Street, was previously home to a wood-framed, Federal-style row …
10 Reasons You Should Check Out Hike Nike NYC
Last night, in Downtown New York City, Nike opened its doors to media and special guests for its Hike Nike NYC event. The location set up by the Swoosh featured the latest winter gear from Nike. From the SneakerBoots to the Tech Fleece Aeroloft and the upcoming NikeLab ACG collection, the destination served as the …
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