It's possible that "they're still affiliated as a separate group, within an umbrella organization," according to Ben Thypin of Real Capital Analytics, who said he had no direct knowledge of the Chetrits' internal structure. "That wouldn't be unprecedented among New York real estate families."
Still, the Chetrits are in some ways better off than other real estate developers.
"They were involved in some pretty profitable transactions during the boom," Real Capital's Thypin said.
He cited the combined $715 million sales of 200 Fifth Avenue and 1107 Broadway in 2007, which a Chetrit-led group had purchased two years earlier for $355 million. Also, the Chetrits sold 1450 Broadway for $204 million in May, after buying it in 2004 with Moinian and other partners for $122.5 million.
"They had a few very good years, so losing a few million here or there in the crash isn't a big deal," Thypin said. "A lot of people have lost much more."
Read More: http://therealdeal.com/newyork/articles/chetrits-deny-split
Ben Carlos Thypin
I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.
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