Developer Erez Itzhaki announced the Keystone Group, a New York City-based real estate development firm, focused primarily on high end condos and rental buildings has changed its name to Itzhaki Acquisitions.
The name change reinforces that Itzhaki is no longer part of the brokerage firm Itzhaki Properties, which is now EPIC Commercial Realty and led by CEO Yona Edelkopf.
Both companies will continue to provide their own distinctive services, but under new corporate names.
Itzhaki has spent the last eight years acquiring and developing a variety of assets located in prime corridors within the New York City metro area.
To date, the group has purchased more than $300 million in assets. They have developed more than 14 projects in the last two years and are currently working on eight new developments. Most recently, Itzhaki purchased 100 Varick Street for $130 million with partners Halpern Real Estate Ventures, Bizzi & Partners, Michael Shvo and Aronov Development.
“By taking back the Itzhaki name, we can better differentiate and position ourselves as an active investment company in todays real estate market after 20 years of experience in the business,ˮ said Itzhaki.
“This is important as we aggressively look to acquire low-risk, high-reward properties and reposition them for a profitable re-sale.ˮ
EPIC Commercial Realty currently employs over 30 agents and has completed more than one billion dollars in commercial sales in the Greater New York Metropolitan area.