Besen Partners Announces New Engagement for Boutique Development
Fresh off the heels of a reorganization to position the firm as a full service advisory, Besen Partners today announced that it has been retained by Salusbury & Co. to assist in the launch of a mixed-use boutique development project. Besen will be assisting the Salusbury team in identifying a site for development, capital placement, sales and marketing, as well as providing general operational and structuring advisory work.
"Our reorganization was based on the ability to serve the entirety of our clients' real estate needs," said Daniel Steinberg, Chief investment Officer at Besen. "This project exemplifies that goal."
"Besen was uniquely qualified to assist us in launching this creative real estate project," said Daria Salusbury, Founder and CEO of Salusbury & Co. "Our New York location will be the first of what will become a new, global hospitality brand."
Besen has been involved with noteworthy boutique hospitality developments. The investment sales team sold the Covenant House site at Ninth Avenue and 17th Street to Hampshire Hotels (now The Dream Hotel Group), who created the Dream Downtown there. Besen was also behind the sale and subsequent development of Hyatt's first Andaz hotel located at 485 Fifth Avenue, once known as the Tommy Hilfiger building. What would become known as the Sanctuary and Night hotel properties in Times Square were also sold by Besen, amongst various other operating hotels throughout New York City.
"We are pleased to deploy our team on this innovative, multifaceted project, particularly on site selection," stated Ron Cohen, Chief Sales Officer for Besen.
About Besen Partners:
Founded in 1988, Besen Partners is a leading NYC-based real estate firm that provides real estate advisory, brokerage and management services. Bringing institutional quality real estate solutions to high-net-worth individuals, families, trusts, funds, foundations, and other private investors, Besen's executive team has been instrumental in the direct purchase, financing, development, asset management and sale of over $5 billion in commercial property assets and has an impressive track record in partnering and co-investing equity with prestigious financial institutions and private investors. Besen's brokerage division has been named a Top NYC Brokerage Sales Firm by CoStar Research for over 16 years. Its team has brokered the sale of over $7 billion in real estate transactions. NYC Management (Besen's property management affiliate) has managed over 4 million square feet of commercial assets.
www.besenpartners.com
About Salusbury & Co., LLC.:
Salusbury & Co. is a real estate development and advisory firm assisting prominent real estate executives and architects in bringing their properties to life. With more than 30 years of experience in development, branding and marketing, the team at Salusbury & Co. has been responsible for overseeing the design and construction of more than $12 billion in residential, commercial, and mixed-use properties in some of the world's most challenging markets. Led by real estate veteran Daria P. Salusbury, the development arm of the firm is currently working with renowned hospitality specialists in the creation of a new a mixed-use real estate platform aimed at redefining hospitality, service and exquisite design.
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