Hirschfeld Properties’ spectacular Riverside South development is a model of Manhattan real estate luxury. Renowned New York developer Elie Hirschfeld offered informed insights on the city’s luxury real estate rental and buyers’ market at the New York City Titans of Business panel on April 22 at the Core Club in Midtown.

Originally Posted: https://www.downtownmagazinenyc.com/elie-hirschfeld-titans-business-panel/

Elie Hirschfeld pointed out that while there are great customer bases in the foreign and broader American markets, New York business remains rooted in the local market.

“If the local buyer/renter disappears, we will not be saved by any foreign region,” said the iconic New York real estate luminary.

“First, the Metro New York City market; second, the American market, and only last, can we count on the foreign consumer.”

Hirschfeld, second from right, led a panel of top New York developers.

Elie Hirschfeld‘s comments during a panel which included such prominent New York business names as real estate entrepreneur, Don Peebles, Billy Macklowe, founder of Macklowe Properties, developer, Mitchell Moinian, and Michael Stern, CEO of the JDS Development Group.

Elie Hirschfeld is the President of Hirschfeld Properties which has developed such visionary projects as luxury residential towers Park Avenue Plaza, The Gotham and The Exchange, Crowne Plaza Hotel, Hotel Pennsylvania, New York’s first open-air parking garages, Manhattan Mall and the Sports Club LA Building.

His long record of accomplishment in the field gave him a particularly insightful perspective on the topic of the workings luxury real estate market in New York City.

“We have an inventory of luxury free market rentals in Tribeca, the Village, Sutton Place, Upper East side and other areas throughout the City,” he revealed.

“As the free market apartments come up for renewal we explore the luxury for sale market against the luxury for rent market. This helps us understand how a prospective renter or the renewal of the current renter might proceed themselves in the market in the alternatives of them buying or them renting.”

And while he remains committed to the local market as his primary focus, Elie Hirschfeld does not dismiss the importance of foreign capital to the industry.

“As for foreign markets, it is no longer primarily, China, but DOES continue to be Asian, Indian, and the Middle East,” he pointed out.

“There is fair amount of money migrating under radar and freely from Russia, Ukraine, the Stans (Kazakstan, Uzbekistan), the Middle East and Asia.”

Elie Hirschfeld‘s influence and insights into the New York real estate market are well known and heavily sought by peers who include President Donald Trump who is both a friend and business partner.

For more information on the New York Real Estate market go to hirschfeldnyc.com

DEA quietly signed one of 2014′s biggest office leases with Elie Hirschfeld at Hirschfeld Properties

dea One of the largest office-leasing deals of 2014 slipped quietly under the radar in the spring when the U.S. Drug Enforcement Administration renewed nearly 600,000 square feet in West Chelsea, The Real Deal has learned.

The New York division office of the federal law enforcement agency signed on with Elie Hirschfeld at Hirschfeld Properties in May to renew its 570,000 square feet at 99 Tenth Avenue, a 10-story former industrial building occupying a full block between the High Line and the Hudson River.

The DEA, which has been in the building since 1991, will pay an aggregate rent of $341.9 million over the 15-year term according to the Government Services Administration, which manages real estate for federal agencies.

The lease is effective starting June 2016.

Hirschfeld Properties’ president Elie Hirschfeld said it took a fair bit of negotiating to keep the agency in the nearly 100-year-old building, a former cold-storage warehouse that needed windows punched through the blank brick walls when it was converted to office use in the 80s.

“It was a complicated transaction that took a couple years to finalize in order to accomplish all their objectives,” such as upgraded technology and security measures, Hirschfield said, “the details of which I’m not at liberty to speak about because of the high-security nature.”

The DEA deal ranks as the fourth-largest office lease of the year, in between Time Inc.’s roughly 730,000 square-foot lease at Brookfield place and Sony’s deal to take about 550,000 square feet at 11 Madison Avenue, according to a yearly report compiled by CompStak.

The DEA’s New York Organized Crime Drug Enforcement Strike Force also inked a lease at Brookfield Place in March for 56,000 square feet.

Elie Hirschfeld of Hirschfeld Properties Signs Lease Renewal At 328 61st Street

Hirschfeld Properties LLCelie-hirschfeld-2 has signed a renewal lease with Gotham Martial Arts for its entire third floor at 328 East 61st Street, for the continued operation of its business there, it was announced today. Terms of the 3,000 sq. ft. deal were not disclosed.

The six-story building continues to be fully occupied by health and physical fitness industry enterprises. Other tenants include The Fitness Cell Private Trainers, The Ballet Club, Honbu Dojo Studio, Earth Yoga Studio and Fred Astaire Dance Studio.

The building is next door to another Hirschfeld-owned property at 330 East 61 Street, which is entirely occupied by The Sports Club LA, one of the best known sports and fitness brands around.

"As a native New Yorker and avid sportsman, I am pleased to have two adjacent properties, in one of the most desirable communities in the world, on East 61st Street whose tenants are dedicated to making NYC healthier,” said Elie Hirschfeld. “These buildings create a strong center for active lifestyle living.”


Hirschfeld Properties is an owner of real estate, developing projects in the New York metropolitan area. With affiliates, Hirschfeld Properties has been engaged in the development or ownership of some of the most renowned office buildings, hotels, multi-family residential buildings, parking facilities and retail projects New York City has to offer. Through the inspiration of Abraham Hirschfeld, and today led by Elie Hirschfeld, Hirschfeld Properties has contributed to such visionary projects as New York's first open-air garage, the Hotel Pennsylvania and the Manhattan Mall and is considered one of the most influential real estate development firms in New York City.