Pan Am Equities is a real estate company owned by the
Manocherian family that develops and operates real estate properties, along with its sister company
Manocherian Brothers
Manocherian Brothers and its sister company, Pan Am Equities, are companies owned by the Manocherian family that invest in real estate, primarily multifamily properties on the Upper East Side of Manhattan in New York City.
Other buildings owne ...
The company focuses on the redevelopment of
Upper East Side
The Upper East Side, sometimes abbreviated UES, is a neighborhood in the borough of Manhattan in New York City, bounded by 96th Street to the north, the East River to the east, 59th Street to the south, and Central Park/Fifth Avenue to the wes ...
tenement blocks.
Buildings owned by the company include New York Tower at East 39th Street and the Caroline at 60 West 23rd Street. The owners of the company also own the
New York Health & Racquet Club.
History
In 2014, the company bought two commercial condominiums in the Upper East Side, covering a total of 45,000 square feet. The seller was Philadelphia-based real estate investment fund manager Equus Capital Partners.
In April 2016, Pan Am Equities sold 6 multifamily rental buildings in the
East Village to
The Lightstone Group
The Lightstone Group is a privately held real estate investment company which owns and operates a diversified portfolio of multifamily, office, industrial, hotel, and retail properties. Lightstone has invested directly in individual real estate as ...
for $127 million.
In 2019 the firm announced the Glassell Park project, a 419-unit apartment complex located at the entrance of the new Bowtie State Park along the
Los Angeles River. The project received harsh criticism from river activists.
References
{{Reflist
Real estate companies of the United States
Privately held companies of the United States
Manocherian family