Citigroup Center, New York City
Allied, in partnership with Boston Properties, acquired this prestigious 1.65 million square foot office building in April 2001. One of the world's most recognizable skyscrapers, the 59-story office tower and 7-story retail building represented a rare opportunity to acquire one of New York's premier properties.   

285 Lafayette Street, New York City
This 100,000 square foot loft building in New York's historic SoHo district is widely recognized as one of the most creative and successful projects of its kind. Allied purchased the mortgage from the FDIC in partnership with the ten existing residential artist tenants. Following a two year rezoning to residential and retail use, Allied gut renovated the building and constructed four additional floors while the building remained occupied. A total of 31 condominium units were created with high-end finishes and fixtures that set a new standard of luxury for downtown residential conversions. The project is 100% completed and sold out. Allied retains ownership of approximately 30,000 square feet of retail space which was recently leased to the New York Public Library and Polo Ralph Lauren.   BACK TO THE TOP

1 East 57th Street, New York City
This 15-story office building located on the northeast corner of 57th Street and Fifth Avenue was purchased in early 2000. The first eleven floors were under long-term lease to Time Warner. Allied negotiated an early lease termination with Time Warner and subsequently sold the vacant building to LVMH, the European luxury goods retailer at a record price per square foot.  BACK TO THE TOP

Kirkbride Center, Philadelphia, PA
Allied recently acquired the debt on this 21 acre mixed use facility containing private schools, medical facilities, public housing, and general office space. Upon its acquisition, the property was in bankruptcy following a mortgage foreclosure. Allied restructured the debt and the management of the facility. The property is now highly successful.  BACK TO THE TOP

Woodbury Centre, Woodbury, New York
This 68-acre retail and hotel site was acquired in early 2000. The site is adjacent to Woodbury Commons, one of the country’s most successful factory outlet centers. Allied  developed the 228,000 square foot shopping center and pre-leased it to well-known national retailers such as Kohl’s, Staples, Linens & Things and Michaels Crafts. The center opened in October 2002 with 99% of the space leased.  Other tenants include Pier 1, Modells Sporting Goods, TGI Fridays and Pizzeria Uno.  The hotel site was sold to a hotel developer in 2003.   BACK TO THE TOP

50 West 40th Street, New York City
Allied acquired 50 West 40th Street, located on the south side of Bryant Park between Fifth and Sixth Avenues in late 1999. The property contains a 6-story, 75,000 square foot office building which was 100% net leased to the Katharine Gibbs School soon after Allied’s acquisition. The site also contains 130,000 square feet of additional development rights.   BACK TO THE TOP

The Prince Building, 568 Broadway, New York City

Allied, in partnership with the Cayre family, acquired this 300,000 square foot office building in 2003. Located in the heart of SoHo on the northeast corner of Broadway and Prince Street, 568 Broadway is regarded as SoHo's finest office and retail property. Scholastic Inc. occupies the upper floors of the office building and Armani A/X and Eddie Bauer occupy the ground floor retail space. Allied is in the process of repositioning the lower floors to high-end showroom space.   BACK TO THE TOP

770 Lexington Avenue, New York City
Allied, together with Brown Harris Stevens, acquired 770 Lexington Avenue, a 20-story office building located on the corner of 60th Street and Lexington Avenue. The transaction involved a tax advantaged structure for the seller, a family estate. The property is now the headquarters of BHS and has undergone extensive cosmetic and systems renovations to reposition the building into a premier office property. The property is 100% leased including the occupancy of BHS, Allied Partners and Diesel Jeans, a high fashion Italian clothing store which occupies the ground floor and three upper floors.   BACK TO THE TOP

Dara Gardens, Queens, New York
Dara Gardens is a 534-unit co-operative apartment complex of which Allied owned the 400 unsold units. Following the purchase, Allied refinanced the underlying mortgage and increased the cash flow through extensive renovations, expense reductions and upgrading and re-renting of the apartments as the rent stabilized units vacated.  Allied sold the property in 2003.   BACK TO THE TOP

250 Church Street, New York City
This 200,000 square foot office building occupies the entire 200 linear foot block front on the westerly side of Church Street between Franklin and Leonard Streets. The entire building is currently leased to The City of New York at a below market rent expiring in 2012. Upon lease expiration, the building can be converted to a luxury condominium given its prime location in the heart of Tribeca. BACK TO THE TOP

247 Mulberry Street, New York City
Formerly the home of the infamous Ravenite Social Club, this residential building in New York’s NoLita neighborhood was purchased from the U.S. Government. Allied substantially renovated and re-leased the building, including converting and leasing the ground floor to a high-end fashion retailer. The upper floors contain 18 residential units.
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95 Wall Street, New York City
Allied Purchased this 500,000 square foot, 23-story office building in May 2004. It is triple net leased to JP Morgan Chase through December, 2010. The area immediately surrounding the property is currently undergoing enormous redevelopment. The property will benefit from this renaissance of downtown Manhattan. BACK TO THE TOP

Studio 54, New York City
When Allied acquired Studio 54, this former theatre was dilapidated and vacant. Allied gut rehabilitated the entire structure, creating a state-of-the-art Broadway theatre. It rented the theatre to the Roundabout Theatre Company, which subsequently purchased the property from Allied in 2003.BACK TO THE TOP

254 West 54th Street, New York City
In 1995, Allied acquired this17-story office building, which was 50% vacant and in disrepair. Allied successfully branded it the Studio 54 building, renovating and repositioning it as a specialty building targeting the entertainment industry which facilitated the lease-up of the entire building within twelve months. The building’s original 10-year leases are currently expiring on the upper floors, which Allied is now converting to residential condominium use, while keeping the bottom of the building commercial. BACK TO THE TOP

545 Madison Avenue, New York City
Allied acquired the leasehold mortgage and 25% of the Limited Partnership interests of this 120,000 square foot office building located on the southeast corner of Madison Avenue and 55th Street. Allied took control of and restructured the existing Partnership so as to defer unfavorable tax consequences to the original partners. Allied upgraded and re-leased the building. BACK TO THE TOP

Lawrence Plaza, Lawrence, New York
An upscale garden apartment complex in the Five Towns area of suburban Long Island, Lawrence Plaza is one of the only remaining rental properties along the desirable Central Avenue corridor. After acquisition, Allied embarked on an extensive renovation and upgrading of the property. Lawrence Plaza is fully rented as a first class residential property.   BACK TO THE TOP

48 Wall Street, New York City
This 32-story downtown Manhattan office building located one block east of the New York Stock Exchange was formerly the home of The Bank of New York. Allied acquired the nearly vacant building along with the partners of Brown Harris Stevens and renovated the entire building, repositioning it for multiple office tenancy. The building is now fully leased.   BACK TO THE TOP 

Waldengreen Apartments, Orlando, Florida
Allied acquired this 275 unit apartment complex in central Orlando with a local partner. Due to an undercapitalized prior owner, Allied was able to generate substantial returns on invested capital through extensive renovation and improved management and marketing.
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Waterford Corners, Waterford, MI
Allied acquired the limited partnership interests and took control of the general partner interest that owned this 75,000 square foot retail shopping center in suburban Detroit. The property was renovated and later sold.  BACK TO THE TOP

Ferndale Shopping Center, Ferndale, MI
Allied acquired this freestanding Kroger's supermarket outside of Detroit based upon its excellent sales potential as the immediately surrounding trade area continued to improve. Allied upgraded and later sold the property.  BACK TO THE TOP