Trevi Realty changes name to HUBB NYC

Trevi Retail, a privately held retail real estate firm, has changed its name to HUBB NYC Properties (HUBB NYC). HUBB NYC is formally expanding its investment strategy to include residential real estate, in addition to retail. The company will now focus on building both retail and residential holdings under the new banner. Underscoring the new commitment HUBB NYC now has for residential properties, the company bought a four-building residential portfolio in the Upper East Side for $100 million late last year - the first pure residential purchase for the company. It was seen as an unusual move for a company that predominately focused on just retail properties. "We started off in 2011 specializing in retail. Over the years, we acquired quite a few apartments that came with high-quality retail, and in doing so, we built up the expertise to take advantage of the opportunity to buy the Upper East Side residential portfolio," said Johnny McCarthy, president and senior managing director of HUBB NYC. McCarthy elaborates on the name change, "After we bought the large residential portfolio, the name 'Trevi Retail' no longer seemed relevant. HUBB NYC is more fitting - we provide highly desirable 'hubs' where New Yorkers spend a large majority of time. These include apartments and stores, all located in Manhattan, the greatest hub of them all." HUBB NYC, which currently owns and manages 23 residential and commercial properties, will continue to focus on adding more buildings, both retail and residential, to the current portfolio. For more information on HUBB NYC, please visit us at www.hubbnyc.com.