Rubenstein Partners, a real estate investment manager headquartered in Philadelphia and specializing in office investments in the U.S., has opened offices in New York at 515 Madison Avenue.
The firm will occupy the entire 42nd floor of the historic Art Deco skyscraper in Midtown Manhattan.
Rubenstein Partners has been active as an investor in New York office property for several years. The firm made headlines in 2015 by taking a majority stake in 25 Kent Avenue, the first ground up office property development in Williamsburg, Brooklyn in several decades.
The firm’s construction and asset management teams are currently overseeing all aspects of construction and leasing of the project, which is expected to be completed in Fall 2018.
Rubenstein continues to actively seek new value-added office investment opportunities in the city.
“Opening our doors at 515 Madison marks the latest step in the firm’s long-term expansion strategy. Our New York office supports enhanced deal sourcing ability in the New York region by putting boots on the ground in this key target market, and also provides outstanding access to national and global capital markets as we grow our capital formation team,” said David Rubenstein, founder and senior managing principal of Rubenstein Partners.
In addition to the firm’s New York acquisitions team headed by recent hire Robert Andrews, who joined from RXR Realty in September 2017 and serves as Regional Director of New York, the 515 Madison Avenue offices will house senior staff including: David Ballard, Director of Corporate Strategy; Fred Harmeyer, Portfolio Manager of Debt Investments; Ferhat Guven, newly hired as Director of Investor Relations; Jeff Fronek, Director of Investments; and Jeremiah Kane, Senior Advisor of Brooklyn.
Rubenstein Partners expects to further expand its Investor Relations team in the New York, with senior and mid-level hires planned for the near future.