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Hidrock Realty prez Abie Hidary
Tenants are still at the wheel, so how can landlords be successful? We turned to Hidrock Realty prez Abie Hidary, whose firm owns and manages eight buildings in NYC, as well as assets in Brooklyn, South Florida and Pennsylvania. The key, he says: be “very good” to the brokerage community—be upfront, pay them in a timely manner, build quality space quickly, and keep lease documents to-the-point. Hidrock has also ramped up marketing, with leasing director Robert Kaplan taking small groups on private building tours, allowing the firm to build more personal relationships and introduce “uptown” brokers to affordable quality space around Bryant Park and Penn Plaza. The result? It recently signed 30k SF to 240 W. 35th, including Michelle Obama fave Jason Wu and Reem Acra; and Joel Paul Group to 2.8k SF at 53 W. 36th.
Abie Hidary with brothers Eddie (standing) and Steven, and father Jack
Abie, with brothers Eddie (standing) and Steven, and father Jack, all run different divisions within the firm. In addition to leasing, Hidrock is also ramping up acquisitions—it recently purchased a $95M defaulted note secured by 960 Sixth Ave for $40M. Abie tells us that the firm is looking for properties or notes in the $30-$100M range, with institutional or private partners. When he’s not leasing or investing, you might catch Abie running back home to Midwood, Brooklyn, on warmer days—a 10-mile jaunt he runs twice a week.