avenue

Multifamily

220 FIFTH AVE, NY
$250,000,000

Lincoln james Capital represented Asset Realty & Construction Group, Inc. in the leasehold acquisition by Stellar Management and Imperium Capital of 220 Fifth Avenue in Manhattan.

Kathy Anderson of Progress Capital negotiated the transfer of the leasehold interest in 220 Fifth Avenue from a subsidiary of Asset Realty & Construction Group, Inc. to a joint venture between Stellar Management and Imperium Capital. Formerly known as the Croisic Building, 220 Fifth Avenue was constructed in 1912 and is renowned for its Neo-Gothic architecture which is visible for blocks because of its two-story copper mansard roof.

“220 Fifth Avenue is a special building that has been in the Tomassetti family for over 30 years,” said Ms. Anderson. “It was important to find the perfect strategic partner to continue the family’s vision and I’m honored to have been trusted by both the Tomassetti’s and Stellar/Imperium to help accomplish this.

As part of its capital improvement program, Stellar and Imperium will renovate the lobby and update and modernize the building systems. The partnership is also completing high-end, custom pre-builds for turn-key office space. There are currently six full floors available for lease comprising approximately 9,000 RSF each.

“The location is unbeatable and we are excited to begin upgrading the base building and amenities to offer this as a premium office space for tenants,” Matthew Lembo, a principal at Stellar Management. “This coveted building anchoring the corner of 26th and Fifth Avenue is a jewel of the red hot Madison Square Park submarket,” Morris Mishan of Imperium Capital.

John Park, Leo Leyva, Jordan Fisch, Jeff Schecter and Patrick Quinn of Cole Schotz provided legal counsel for Dino & Sons Realty Corp. while Ira Nesenoff and Ariya Waxman of Nesenoff & Miltenberg represented Stellar Management and Imperium Capital.

Dino Tomassetti is President & CEO of Asset Realty & Construction Group, Inc., a full-service real estate development and investment firm, with specialties in the areas of real estate development, construction, property management and investment.

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

Related Press:
View Press Release at PRN
The Real Deal New York
Mid-Atlantic Real Estate Journal
Real Estate Business Online
Commercial Property Executive
Yahoo Finance
Imperium Capital
Stellar Management

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Brigitte Grava

Financial Analyst

Brigitte Grava, an accomplished scholar from the University of Tampa, holds both a Bachelor’s Degree in Economics and a Master’s of Science Degree in Entrepreneurship from her alma mater. Brigitte’s dedication to academic excellence is shown in her performance as an undergraduate student as she was invited to the Adam Smith Economic Honor Society in addition to graduating from her Master’s program at the top her class in 2022. With over 5 years of industry experience, including a specialized focus on mergers and acquisitions during her 3-year tenure at a boutique investment bank, Ms. Grava brings a wealth of financial expertise to her endeavors. Her exceptional execution of economic and financial analyses, coupled with her strategic insight, empowers her to provide invaluable recommendations for business growth and corporate development. Brigitte is skilled at navigating intricate M&A transactions, consistently delivering optimal outcomes for her clientele. Her track record speaks volumes about her ability to handle every facet of these transactions with finesse, resulting in remarkable results for her clients.

Alyssa Beatrice

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Alyssa Beatrice is the Marketing Director of Lincoln James Capital, leveraging over 7 years of expertise in both B2B and B2C domains. Holding a Bachelor’s Degree in Business Administration with a major in Marketing, Alyssa’s career is driven by innovation, determination, and data-driven results. Her impressive track record showcases numerous successful online and offline marketing campaigns, reflecting her inventive spirit and collaborative team approach. Alyssa’s unwavering passion for achieving exceptional outcomes has made her an invaluable asset to our team at Lincoln James Capital.

Andrew Millis

Commercial Loan Originator

Armed with a bachelor’s degree in business administration, specializing in Personal Finance from the University of Wisconsin Stout, Andrew possesses a wealth of knowledge and expertise in the Commercial Finance industry. With a solid background in community banking spanning 3  years and an additional year as a commercial credit analyst at Bankers Healthcare Group, he has demonstrated exceptional proficiency in the financial domain. Notably, Andrew has also successfully ventured into the real estate sector, establishing three thriving businesses in recent years.

Beyond his professional pursuits, Andrew cherishes quality time with family, friends, and his two beloved dogs. He finds solace in exploring new destinations through travel and engaging in outdoor activities such as hiking, golf, pickleball, and hockey. A true sports aficionado, he ardently supports the Green Bay Packers, Milwaukee Brewers, and Chicago Blackhawks.

Alex Cheng

Senior Vice President

After receiving his Bachelor degree in 1978, Alex started his professional career with a reginal CPA firm in New Orleans as Auditor. In 1980 he moved to Los Angeles to join ABPA, a national employee benefit administration firm.  He was promoted to Accounting Manager when he left the firm in 1988 when he was recruited by Dallas TX based Caltex petroleum Corporation, a JV of Chevron USA and Texaco Oil Company.  Alex served as Director of Finance in various countries, including the Philippines, Greater China (China, Hong Kong and Taiwan) and Australia.  Alex left Caltex in 1995 to start his own accounting firm in Burlington North Carolina.  By 2006 his firm has grown to a regional presence with offices in Cary, Burlington, Greensboro, Charlotte and Rock Hill, SC.  Alex sold his successful practice in December 2006 just before the latest financial meltdown.  Since 2007, operating under the firm name Alliance Consulting Group, Alex has been a financial and management consultant advising clients on complicated fiscal matters and improve overall efficiency in management and operation.  In 2015, Alliance Consulting added digital marketing to its service area to meet the changing landscape of business.  Currently his firm manages private equity funds of Family Offices and other high net worth individuals, with focus on multi-family apartments and purpose-built Student Housing apartments near major universities throughout the country.