Privately-owned commercial real estate companies combine experience and assets to form HSP Real Estate Group; bring “best in class” philosophy to the value-add sector
Herald Square Properties and EVO Real Estate Group have merged to form HSP Real Estate Group. The new entity is a wholly integrated, full-service real estate firm headed by Herald Square Properties Principals Gerard Nocera and Michael Reid.
Working with former Evo Real Estate Group partners, Ira Z. Fishman and Dana L. Moskowitz, HSP Real Estate Group’s combined divisions comprise acquisitions, property management, asset management, construction management, and office and retail/hospitality leasing and sales. The principals of the new firm are notable for their extensive knowledge of the local market and industry expertise.
“This merger gives us greater market penetration and better access to commercial property acquisitions,” points out Mr. Nocera. “Our mutual cultures of excellence enable us to provide best-in-class institutional services to all sectors of the value-add marketplace in New York City.”
Adds Mr. Fishman, “Combining two already strong brands will be instrumental in the growth of our management and brokerage divisions. All the principals involved share a vision for the direction of the new firm, and there is already tremendous synergy between our groups.”
Herald Square Properties was founded in 2009 as an owner-operator and asset management company by Messrs. Nocera and Reid, both former chief operating officers for SL Green Realty Corp. Since inception, the firm has focused on property acquisitions and value-add repositionings. Among the properties it has acquired are 251 West 30th Street, 142 West 36th Street, 234 West 39th Street and 1372 Broadway. The group currently serves as asset manager for 885 Third Avenue and has provided asset management services for 292 Madison Avenue and 183 Madison Avenue.
EVO Real Estate Group, formerly Winoker Realty Co., is a long-established New York-based commercial real estate firm, founded in the 1960s. In 2013, Winoker was acquired by Mr. Fishman and Ms. Moskowitz and rebranded as EVO Real Estate Group, a member of NAI Global. The firm specializes in building management, tenant representation, landlord representation, commercial co-op/condo sales, retail and hospitality leasing, and consulting. Its diverse leasing and management portfolio of over 40 properties includes 1450 Broadway, 347 West 36th Street, 45 West 34th Street, 148 Madison Avenue, 6 West 48th Street, 29 West 36th Street, 32 Union Square, 132 Mulberry Street and other notable buildings.
Collectively, they are currently responsible for approximately 4 million square feet of commercial assets under ownership and/or management.
The offices of HSP Real Estate Group will be at 1040 Avenue of the Americas and 885 Third Avenue.
