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]
 | |
| Company type | Privately held company |
|---|---|
| Industry | Real estate |
| Founder | Manocherian family |
| Website | panamequities |
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
editIn 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
edit- ^ "Pan Am Equities". The Real Deal New York. Retrieved July 31, 2017.
- ^ "Pan Am Equities Inc: Company Profile". Bloomberg. Retrieved July 31, 2017.
- ^ Pincus, Adam (February 1, 2011). "Clans with plans". The Real Deal. Archived from the original on March 4, 2016 – via The Wayback Machine.
- ^ "Health club pioneer returns to the gym". Crain's New York Business. October 20, 2013. Retrieved February 7, 2020.
- ^ "Manocherians' Pan-Am buys UES commercial condos for $48M". The Real Deal. March 20, 2014. Retrieved February 7, 2020.
- ^ "Lightstone acquires East Village resi portfolio for $127M". The Real Deal. May 5, 2016. Retrieved February 7, 2020.
- ^ "Pan Am Equities Proposes 419-unit MF Along L.A. River". Connect Media. October 1, 2019. Retrieved February 21, 2020.
- ^ ""Over my dead body": Pan Am Equities' resi project along LA River gets pushback". The Real Deal. September 30, 2019. Retrieved February 21, 2020.