Los Angeles-based Hillcrest Co. expands to NYC market

Manhattan, NY Hillcrest Company, a real estate development and management firm based in Los Angeles, has expanded into the New York City market. Specializing in the revitalization of emerging urban neighborhoods with strong economic potential, Hillcrest’s national portfolio spans residential, industrial, and commercial properties, including private residences in Beverly Hills, Malibu, and now, in NYC.

Collectively valued at over $70 million, Hillcrest’s initial acquisitions in the borough include four residences: a 4,500 s/f 10^th-floor condominium at 838 Fifth Ave.; a 5,800 s/f 11^th-floor condo at 12 East 12^th St.; a 4,500 s/f townhouse at 162 East 63^rd St.; and a 10,000 s/f Gilded Age mansion at 337 Riverside Dr.

With an emphasis on sustainable design, community integration, and long-term value creation, Hillcrest is poised to help shape the next chapter of urban living in New York City — bringing thoughtful, well-executed projects that honor the city’s history while embracing its future to the market.

“New York City is the center of gravity for America — and the world,” said Fred Afari, CEO of Hillcrest Company, a family-owned firm since the 1980s. “Over the past five years, the city has shifted into a buyer’s market, creating a unique window of opportunity. Through auctions and private sales, we’ve acquired properties with rich histories—some once owned by notable, iconic figures.” He added, “Our expertise lies in taking exceptional properties and enhancing them through thoughtful restoration or repositioning.” 

For example, the property at 838 Fifth Ave. was previously owned by Broadway producer James. Nederlander. The stories and history of this building and the others will be maintained, but given a new spirit by Hillcrest. 

“Every time I collaborate with Hillcrest, their impeccable reputation draws in the perfect clientele,” said Whitney Didier, licensed real estate broker at The Corcoran Group. “Their team brings unmatched integrity, market insight, and a genuine commitment to client outcomes. I’m thrilled to see them enter the New York market.”

Hillcrest’s ongoing strategy in New York City focuses on acquiring and repositioning Class-A single-family, multifamily, special-purpose, mixed-use, and retail properties in premier, irreplaceable locations. The company aims to steadily expand its New York City portfolio over the next three years. 

With over 2,500 apartment units and more than two million s/f of commercial and industrial holdings nationwide, Hillcrest combines decades of generational experience with a forward-looking, value-based acquisition strategy.