Pink Stone Capital is the investment and development arm of Empire Management. A well capitalized real estate company based in Manhattan. Over the past 35 years, Empire has bought and sold over $2 Billion worth of real estate and currently owns, manages and operates a portfolio of 100 residential and commercial buildings in the Tri-State Region.
Our current development pipeline is in excess of $500 million. Pink Stone Capital is actively looking to purchase assets or notes, secured by assets, which fit within our acquisition criteria. We have the knowledge and ability to a) buy troubled assets b) take over failed development sites c) purchase assets with value-add opportunities d) act as a fee developer for banks with which we have a close relationship.
In 2010, with an eye towards the future, Richard Ohebshalom established Pink Stone Capital Group to further grow the family business and satisfy the demands from outside Investors to invest within the Empire brand. Currently, Pink Stone has 2 ground-up development projects in Manhattan and is looking to acquire at least 4 assets in 2011.
Acquisition Criteria: Property Class / Collateral type (in order of preference): a) Multifamily b) Office c) Incomplete construction / development projects of any class
Parameters: a) Note Balance: $10MM to $150MM b) Pool Size: up to $200MM c) Geography: Manhattan