Our sister company JW Clearing LLC provides asset repositioning services for owners of commercial real estate portfolios in New York City. Once strategies have been implemented, The Manhattes Group executes the marketing of the new project, including sales and leasing activities. Consulting efforts have resulted in the development and/or redevelopment of over 400,000 square feet of commercial space.
Clients include: The Savanna fund, The Silvermintz family, The Pembrook Group LLC and Glenwood Management.
Our capabilities include:
Fee DevelopmentThe JW Clearing LLC offers fee development services to landlords, financial institutions and property owners. We provide clients with Fee Development Services leveraging the same resources and expertise used to develop assets in our own portfolio. The end result is a well documented, on-time, on-budget real estate solution enabling our clients full transparency from land acquisition, preliminary design, vision, branding, engineering, entitlement, design review and construction through certificate of occupancy.
The JW Clearing LLC provides our clients with the most comprehensive study out there. We dig deep into the site analysis to be certain each project is viable by providing site appraisals including back of the envelope, market and best use analysis as well as financial feasibility and economic impact analysis to determine the appropriateness of the proposal. We work with landlords, financial institutions and property owners, studying commercial, residential, and mixed-use projects to determine their viability.
The JW Clearing LLC provides the foundation blocks needed to effectively analyze development opportunities. We help clients better understand appraisals and valuations, to compare investment opportunities, monitor and manage investment results, set asking prices and negotiate various complex real estate-based transactions including purchase and sale agreements, mortgages and leases. We provide an array of financial analysis and modeling services including budget preparation and maintenance, proforma preparation and maintenance, internal rate of return, sensitivity analysis, cost/revenue analysis, financial investment packages and cash flow updates.
Owners Representative Services
The JW Clearing LLC provides guidance throughout the lifecycle of your project, protecting the owner’s interests at all times. As the project’s “eyes and ears,” we provide on-site representation to make sure that construction proceeds in accordance with contract documents, on time and within budget. Our rigorous pre-qualification, special condition review and extensive check and balance approach ensure every team member is productive and your goals remain on-task. Working as your advocate, our experts enable clients to focus on their core business without distraction.
540 West 26th Street
In a joint venture between Savanna, and The Silvermintz Family, JW Clearing LLC was retained by the partnership to provide development and marketing consulting services for the partnership. Once completed, 540 West 26th Street will be a 160,000 square- feet, nine-story, state of the art commercial property. The entire building will be home to galleries, community facility space and commercial office space. Designed by Morris Adjmi Architects, the project will cost approximately $140 million and will take approximately 24 months to complete. Upon completion, The Manhattes Group will act as the exclusive leasing and sales agent.
511-541 west 25th street
The JW Clearing LLC was brought in to co-develop the asset with the property owner, The Pembrook Group. Prior to Pembrook’s acquisition of the property, the project was a failed conversion project consisting of three contiguous loft storage buildings in West Chelsea. The JW Clearing LLC was retained to complete the unfinished capital improvement plan and simultaneously act as the exclusive leasing agent and market the asset. The JW Clearing LLC created and executed a development plan to renovate the common areas and the building’s façade as well as developing the tenant’s individual space. During the course of this three year project, The Manhattes Group leased over 150,000 square feet of space and assisted ownership with the sale of the asset to The Related Companies in 2012 for over $94 million.
21 east 96 st
This 41,000 square foot 13 story building was developed in 2005 and is located on Madison Avenue between 96th and 97th street on the prestigious Upper East Side neighborhood of Manhattan. The building includes nine 3 and 4 bedrooms apartments with over 3,000 square feet per unit. The building was designed with a classic façade of limestone, brick and decorative metalwork. 21 East 96th street harmonizes in style and scale with the stately mansions and townhouses lining the neighborhood’s grand avenues and quiet tree lined streets. The Project was designed by H. Thomas Oharra Architects and Barry Rice Architects. Jamison Weiner, Alan Shmaruk and Stuart Boesky were the sponsors and partners of the entity that owned and developed this property. JW Clearing LLC was hired to develop the asset on behalf of the partnership. The original sponsors retain the retail commercial units to this day.
227 East 67th Street
JW Clearing LLC was hired by The Silvermintz family to develop this 15,000 square foot multi family condominium project on a fee basis. The building was slated to have amenities that included a roof top garden, a fitness center, and storage space. C3D was the architect of the project. Together JW Clearing LLC, Ownership, and C3D developed plans and specifications required to develop the site. The Manhattes Group LLC ended up selling the site and plans to a third party developer. The Silvermintz family ended up making more profit on the sale of the project then they would have if the development would have gone forward and the partnership would have achieved their projections.