Pan Am Equities
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Company type | Privately held company |
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Industry | Real estate |
Website | http://panamequities.com/ |
![]() | This section needs expansion. You can help by adding to it. (February 2020) |
Industry | real estate |
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Founder | Manocherian family |
Website | www |
Pan Am Equities is a real estate company owned by the Manocherian family that develops and operates real estate properties, along with its sister company Manocherian Brothers[1][2]
The company focuses on the redevelopment of Upper East Side tenement blocks.[3] Buildings owned by the company include New York Tower at East 39th Street[citation needed] and the Caroline at 60 West 23rd Street.[citation needed] The owners of the company also own the New York Health & Racquet Club.[4]
History
In 2014, the company bought two commercial condominiums in the Upper East Side, covering a total of 45,000 square feet. [citation needed]The seller was Philadelphia-based real estate investment fund manager Equus Capital Partners.[5]
In April 2016, Pan Am Equities sold 6 multifamily rental buildings in the East Village to The Lightstone Group for $127 million.[6]
In 2019 the firm announced the Glassell Park project, a 419-unit apartment complex located at the entrance of the new Bowtie State Park along the Los Angeles River. The project received harsh criticism from river activists.[7][8]
References
- ^ "Pan Am Equities". The Real Deal New York. Retrieved 2017-07-31.
- ^ "Pan Am Equities Inc: Company Profile". Bloomberg. Retrieved 2017-07-31.
- ^ "Clans with plans". The Real Deal New York. Retrieved 2017-07-31.
- ^ "Health club pioneer returns to the gym". Crain's New York Business. October 20, 2013. Retrieved 2020-02-07.
- ^ "Manocherians' Pan-Am buys UES commercial condos for $48M". The Real Deal. March 20, 2014. Retrieved 2020-02-07.
- ^ "Lightstone acquires East Village resi portfolio for $127M". The Real Deal. May 5, 2016. Retrieved 2020-02-07.
- ^ "Pan Am Equities Proposes 419-unit MF Along L.A. River". Connect Media. October 1, 2019. Retrieved 2020-02-21.
- ^ ""Over my dead body": Pan Am Equities' resi project along LA River gets pushback". The Real Deal. September 30, 2019. Retrieved 2020-02-21.