21 ASTOR PLACE
Dynamic purchased 21 Astor Place, a 120,000 SF commercial building, in bank foreclosure. The street level was occupied by non paying tenants. Mr. Zackson successfully evicted the tenants and leased the space to Kinkos and Starbucks. Dynamic Group did the build out for Kinkos, gutted the entire building. Then partnering with the Kushner and Stonehedge Organizations, designed luxury apartments for a condominium plan. In 1998, the property was sold to Phillips International.
KINGS BAY LANDING
Dynamic purchased the asset out of foreclosure from Chase Manhattan Bank. Dynamic permitted, zoned and susbsequently sold the 90 condominiums, 45 townhouses and 89 boats slips in 1998
ONE W. 34TH ST., 358 & 362 5TH AVENUE
Dynamic purchased a three building package at One West 34th Street and 358 & 362 Fifth Avenue with approximately 250,000 SF and a NOI of $3 million. Mr. Zackson repositioned the retail with new tenants and rented up the remaining office space at approximately $50 per SF driving up the NOI to $5.5 million. The property was subsequently sold to an investor.
230 E. 44TH ST.
Mr. Zackson purchased 230 East 44th Street for $1.8 million - 164 apartments, 100 car garage, restaurant and barber shop. The building was 50% vacant with the other 50% of the tenants on a rent strike. Through a legal strategy and tenant negotiations the rent strike was resolved within the first eight months of ownership. Mr. Zackson renovated the entire interior of the property including the laundry room and 90 apartments. Dynamic Group rented all the vacant units and resold the property in 1995 to the Hakim Organization and Stonehenge Partners for $6.3 million.