10.20.12 | Mann Report

SoHo and Beyond

Real estate investment and development firm Imperium Capital is probably best known for owning 103 Prince Street, a building that is home to the popular SoHo Apple store. But the New York City-based firm isn’t through with SoHo – or the rest of New York, for that matter.

Founded in 2010 by Daniel Glaser and Sam Schneider, Imperium Capital has been actively engaged in a number of significant transactions, specializing in the acquisition of commercial, retail, and multi-family properties in New York City and major markets across the U.S. The firm has acquired over $300 million of high-profile assets comprising over 800,000 square feet in prime New York City Locations.

Over the past several years, Daniel Glaser and Sam Schneider have created a solid portfolio of New York City properties, which they expect to grow in the coming years. The Imperium Capital co-founders have purchased trophy properties in prime Manhattan and Brooklyn locations that are patient to realize future value in those properties.

Daniel Glaser has over ten years of experience in the real estate business, concentrating in the commercial and multi-family real estate sectors in New York City. He is responsible for overseeing all activities within Imperium Capital. Sam Schneider has been involved in the sourcing and acquisition of over $1 billion of Manhattan real estate for more than ten years and is responsible for overseeing all acquisitions, financing and development.

Prior to founding Imperium Capital, both Sam and Daniel held director positions as Eastern Consolidated. In those roles, the pair successfully completed over $750 million of transactions involving office buildings, apartment buildings, development sites, retail properties and defaulted mortgage notes.

Since 2010, Imperium Capital has closed on three properties located in the highly sought-after SoHo neighborhood. After initially purchasing a corner retail building at Broome and Wooster, the firm closed on a second, much larger landmark SoHo property with Centurion Realty, located at 103 Prince Street, which houses Apple’s first Manhattan store.

In May 2012, Imperium Capital acquired its first Brooklyn property, 174-180 North 11th Street in the popular Williamsburg neighborhood, in partnership with Great Point Properties. The 16,000-square-foot property is a two-story retail and office building with significant air rights, which allow for the property to be developed into a multi-story residential apartment building.

“We are very bullish on Williamsburg, especially the northern end near McCarren Park,” added Schneider. “We love that area specifically for residential and retail.”

The firm’s most recent SoHo purchase, One SoHo Square, occupies nearly one full city block on the corner of Avenue of the Americas and Spring Street. Imperium Capital partnered with Stellar Management to purchase the property, which consists of two commercial buildings and 650,000 square feet of office and retail space.