Soho Properties breaks ground on 45 Park Place

Shown (from left) are: Shahida Jaffar, G.M., N.Y., Maybank; Kevin Koh, regional director - US & UK, Maybank; Elizabeth Stribling, chairman, Stribling Marketing; Nour Mousa, partner, Soho Props.; Amro Nahas, head of real estate investment, MASIC; Sammy El-Gamal, managing partner, Soho Props.; Sharif El-Gamal, chairman and CEO, Soho Props.; Ihsan Bafakih, CEO, MASIC; Michael McLaughlin, president, ValCon Construction Advisors; Bill Gilbane, senior VP, Gilbane Building; Seth Pomerantz, executive VP, Soho Props.; and Chase Chehade, director of capital markets, Soho Props.

Manhattan, NY A ground-breaking was held on June 2^nd for 45 Park Place, Soho Properties’ new TriBeCa condominium tower. Construction has commenced on the 665-ft. tall glass and steel tower. The project is slated to be completed in 2018.

Soho Properties, Inc. is a commercial real estate investment firm founded by Sharif El-Gamal in 2003 in New York City. The Soho Properties team arranges and participates in real estate investments in office, residential and retail property markets in New York City, generating opportunities for its clients through the acquisition of both single assets as well as portfolios. Soho Properties is a company focused on pursuing the real value in real estate investments, especially when pricing dislocations create value-driven opportunities. Soho Properties unlocks the value in an investment by successfully executing various strategies, which include retenanting/repositioning assets, renovations, aggregations, developments and participating in unique opportunistic situations. Soho Properties acts as a principal and arranger of real estate investments by forming joint ventures with institutional and high net worth real estate investors. Such strategic partnerships are formed to identify opportunities whereby our investors can capitalize on market mis-pricing to earn superior risk-adjusted returns. Soho Properties investment strategies are IRR driven and executed to create value and manage risks through an involved investment and asset-management process. The company utilizes an efficient and tailored operating system and a well-defined and proven development process.