Stone Street Properties Featured in 100th Issue of The Real Deal 

Long-time friends Robert Morgenstern and Jeffrey Kaye had often thought about leaving their respective jobs and going into business together.

Morgenstern, a real estate broker, and Kaye, a vice president at the Gotham Organization, dreamed of starting a real
estate investment firm, and as 2010 drew to a close, they felt the time was right.

“Nothing had been trading for months prior, and suddenly things started to
move,” said Morgenstern, who is married to broker and “Selling New York” star Sabrina
Kleier-Morgenstern. “We had access to some off-market deals. We could get them done
where no one else could.”

In January, they launched Stone Street Properties. Named after historic Stone
Street in the Financial District, the new company will own, operate and manage multi-
family buildings. Last month, Stone Street closed on it first acquisition, paying $32.6
million for 85 residential units in three West Village rental apartment buildings: 7
Cornelia Street, 11 Cornelia Street and 102 Christopher Street. The goal is to launch a
line of high-end buildings, branded as being part of the Stone Street portfolio.

“We’re taking these under-managed, under-serviced buildings and creating a
luxury brand,” said Kaye, who managed development projects and cultivated new
business while at Gotham.

View Story

Categories

Industry News (2)

Stone Street News (39)


Neighborhoods

Upper East Side (1)

Nolita (8)

Lower East Side (1)

Gramercy (1)

Soho (1)

East Village (2)

West Village (12)


Archive

August (2)

July (2)

June (4)

May (5)

April (3)

March (6)

February (4)

December (5)

November (9)

October (7)

September (7)

January (13)