{"id":1004742301,"date":"2025-01-07T05:33:50","date_gmt":"2025-01-07T13:33:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004742301"},"modified":"2025-01-13T01:22:02","modified_gmt":"2025-01-13T09:22:02","slug":"jacob-chetrit-of-nyc-investor-family-dies","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jacob-chetrit-of-nyc-investor-family-dies\/","title":{"rendered":"Remembering Jacob Chetrit, Influential NYC Investor"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Jacob Chetrit, one of four brothers who forged a powerful New York City-based investment business, has died at 69. His death was <a href=\"https:\/\/www.crainsnewyork.com\/real-estate\/jacob-chetrit-new-york-real-estate-developer-dead-69?utm-content=article1-readmore\" target=\"_blank\" rel=\"noreferrer noopener\">reported<\/a> by <em>Crain&#8217;s New York Business<\/em>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"310\" data-attachment-id=\"1004369198\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/top-5-office-building-sales-25\/1-whitehall-st-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/1-Whitehall-St.-Manhattan.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1 Whitehall St., Manhattan\" data-image-description=\"&lt;p&gt;Exterior view of One Whitehall Street in Manhattan&#8217;s Financial District&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1 Whitehall St., Manhattan&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/1-Whitehall-St.-Manhattan.jpg?w=400\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/1-Whitehall-St.-Manhattan.jpg\" alt=\"Exterior ground-level photo of Manhattan office building\" class=\"wp-image-1004369198\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/1-Whitehall-St.-Manhattan.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/1-Whitehall-St.-Manhattan.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><figcaption class=\"wp-element-caption\">1 Whitehall St., a Manhattan Financial District building owned by the Chetrit Organization. <em>Photo courtesy of PropertyShark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The Chetrit Group, founded by Chetrit\u2019s brother Joseph, and which included their brothers Juda and Meyer, has earned a reputation for keeping a low media profile. However, the clan has been involved with some of the highest-profile deals of recent decades.<\/p>\n\n\n\n<p>In 2004, a joint venture of the Chetrit Group, Joseph Moinian and American Landmark paid $841 million for the Sears Tower, the Chicago office property that reigned as the world\u2019s tallest building for a quarter century and is still the third tallest in the U.S. In 2015, <a href=\"https:\/\/www.commercialsearch.com\/news\/willis-tower-sale-comes-at-time-of-strength-for-chicagos-downtown\/\">Blackstone paid<\/a> a reported $1.3 billion for the property, which by then had been renamed Willis Tower.<\/p>\n\n\n\n<p>For more than a decade, Jacob and his brother Juda ran the Chetrit Organization, an entity that operated separately from the Chetrit Group but provided some management services to the original company. <\/p>\n\n\n\n<p>The Chetrit Organization\u2019s high-profile holdings have included 850 Third Ave., a 21-story, 600,000-square-foot Manhattan office building that HPS Capital Partners acquired in 2023. The firm also owns 1 Whitehall St., an office tower in Manhattan\u2019s Financial District. Completed in 1962, the 322,000-square-foot property was acquired from Rudin Management in 2019 for $182 million.<\/p>\n\n\n\n<p>As also <a href=\"https:\/\/www.crainsnewyork.com\/real-estate\/chetrit-organization-faces-foreclosure-financial-district-office-1-whitehall\" target=\"_blank\" rel=\"noreferrer noopener\">reported<\/a> by <em>Crain\u2019s<\/em>, LoanCore Capital Credit filed a lawsuit in October to assume control of the building on the grounds that the Chetrit Organization hadn\u2019t made a payment on a $156 million mortgage since 2023 or on another office property located at 428 Broadway.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The executive was behind high-profile deals in New York City and beyond.<\/p>\n","protected":false},"author":445,"featured_media":1004742302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742],"tags":[36643,52537,52539,52538],"class_list":["post-1004742301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","tag-chetrit-group","tag-chetrit-organization","tag-jacob-chetrit","tag-joseph-chetrit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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