Pan Am Equities
TypePrivately held company
IndustryReal estate
FounderManocherian family
Websitepanamequities.com

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[1][2]

The company focuses on the redevelopment of Upper East Side tenement blocks.[3]

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.[4]

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.[5]

In April 2016, Pan Am Equities sold 6 multifamily rental buildings in the East Village to The Lightstone Group for $127 million.[6]

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.[7][8]

References

  1. ↑ "Pan Am Equities". The Real Deal New York. Retrieved July 31, 2017.
  2. ↑ "Pan Am Equities Inc: Company Profile". Bloomberg. Retrieved July 31, 2017.
  3. ↑ Pincus, Adam (February 1, 2011). "Clans with plans". The Real Deal. Archived from the original on March 4, 2016 – via The Wayback Machine.
  4. ↑ "Health club pioneer returns to the gym". Crain's New York Business. October 20, 2013. Retrieved February 7, 2020.
  5. ↑ "Manocherians' Pan-Am buys UES commercial condos for $48M". The Real Deal. March 20, 2014. Retrieved February 7, 2020.
  6. ↑ "Lightstone acquires East Village resi portfolio for $127M". The Real Deal. May 5, 2016. Retrieved February 7, 2020.
  7. ↑ "Pan Am Equities Proposes 419-unit MF Along L.A. River". Connect Media. October 1, 2019. Retrieved February 21, 2020.
  8. ↑ ""Over my dead body": Pan Am Equities' resi project along LA River gets pushback". The Real Deal. September 30, 2019. Retrieved February 21, 2020.
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