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Moinian Group head of acquisitions Jonathan Snider is jumping ship to Sherwood Equities, where he’ll serve as VP of acquisitions and development of the firm’s NYC portfolio.
A Harvard Business School grad, Jonathan helped launch Moinian’s new lending business, oversaw the firm’s $361M bond issuance in Israel and assisted on several development projects, including 572 11th Ave, a 168-unit multifamily project, and 220 11th Ave, a 41-unit luxury condo building.
Sherwood said it expects Jonathan to oversee the firm’s potential opportunities for NYC expansion, according to The Real Deal.
“As we continue to explore new opportunities to expand our real estate portfolio in and around New York, we are excited to have Jonathan Snider as an integral part of our team,” Sherwood Equities CEO Jeffrey Katz said in a statement. “Jonathan’s deep understanding of the Greater New York City real estate landscape will make him an invaluable asset.”
Sherwood already has a sizable Big Apple portfolio, including One and Two Times Square (top left), 1600 Broadway (bottom left), the Saratoga at 75th Street (top right) and a planned 300k SF tower at 452-464 Tenth Ave in Hudson Yards (bottom right).
But the firm has recently sold a lot of its holdings. In September 2013, Sherwood sold a development site at Hudson Yards to Frank McCourt for $167M. A few months later, the firm sold two more Hudson Yards plots to Tishman Speyer for $200M—a hefty profit over the $8.1M it spent in the 1980s. And, this past August, Sherwood sold its office property at 370 Lexington Ave to Unizo Holdings for $247M. [TRD]
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