Uri Mermelstein is principally engaged in the acquisition, ownership, investment, management and development of residential, commercial and mixed-use properties.
Uri Mermelstein was active in commercial acquisitions between 2001 through present acquiring commercial and multifamily properties with various partnerships groups.
In 2010, Mr. Mermelstein acquired, renovated, stabilized, and sold over fifty multi-residential in the Bronx and Manhattan and throughout New York City. The firm has begun to divest of these residential and multi-family properties due to recent changes to the New York Rent Stabilizing Laws implemented in the summer of 2019.
In the 3rd quarter 2018, Mr. Mermelstein, began to refocus on distressed retail and commercial assets. Over the last 18 months, the team has acquired close to 3,000,000 SF of commercial properties nationwide with valuations over $2 Billion. The firm has engaged the best local property management and leasing firms in each sub-market to provide local market knowledge and experience to each respective deal.
Currently the portfolio consists of 3 million SF of office, retail, and multifamily assets and continues to take advantage of deal opportunities in strong markets.
Current Commercial transactions include the acquisition of the following properties:
609 5th Ave- 197,000 SF Development from existing office building to an Ultra Luxury Branded Condominium (St. Regis or Rosewood) comprising of 120 units. Ground breaking 2023.
Parkway Condominium-Queens, NY. Located in the highest demographic of Forrest Hills, Queens. 360,000 SF Ground up development of 242 Condominium Units. Looking to Brand as Ritz Carlton. Ground breaking December 2022.
Forrest Hills Jewish Center- 260,000 SF ground up development of High End retail and 150 Condominium units in the most highly desired neighborhood of Forrest Hills.
Briarwood Rentals- 139-30 Queens Blvd, Queens – We are looking to rezone the current lot from 143,000 SF to 450,000 SF Rental Building with over 500 units.
Huntsville Portfolio Office – 1,070,000 SF portfolio of office buildings in Cummings Research Park in Huntsville Alabama which closed in March 2020
Airport Portfolio Office / Flex office – a 238,459 SF portfolio of four office & flex office buildings located at 800,900, 930 & 849 International Drive in Linthicum, Maryland, which closed in May, 2019.
Danvers Crossing – a 175,211 SF, 100% occupied retail center, located on Route 1, in Danvers, MA, acquired on February 22, 2019. Property is anchored by DOT/Motor Vehicle Bureau, Old Lots, Dollar Tree Stores, Ann& Hope & Planet Fitness, etc.
750 3rd Ave – 820,000 SF office that will be re-purposed to 350 rental units and 500,000 SF of non for profit space.
Mr. Uri Mermelstein:
Mr. Uri Mermelstein has been an active owner, investor and operator of commercial and multi-family properties since 2001. After graduating with an Associates degree from NYU in 1985 and a BA from Baruch in 1990, Mr. Mermelstein spent time working in the financial and real estate industries. In 2001, Uri started Mermelstein Development and has been acquiring, developing and managing commercial and mixed use assets since.
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