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PIc4
Location

56 Leonard Street (at Church and Leonard) New York, NY 10013 United States

Date and Time

Thursday, September 14 2017 - 6 PM

Event Details

SPIRE New York got an insiders tour and opportunity to see 56 Leonard, the tallest building in Tribeca, famously known as the ‘Jenga Tower' on September 14. 

The Swiss architecture firm behind the illusive skyscraper and Pritzker Prize winners, Herzog & de Meuron, designed 145 unique residences, each with private outdoor space.  The amenities, spanning over the 9th and 10th floors, include a 75-foot long lap pool with a hot tub and sundeck overlooking the Hudson, fitness studio managed by The Wright Fit, lounge, screening room, private dining room and much more. 56 Leonard engages New York from many perspectives, delivering breathtaking views of the city, the harbor and the island’s flanking rivers. To the north, Midtown’s spires can be seen rising over the fabric of SoHo; to the south, the Financial District’s towers soar. 56 Leonard’s varied balconies and terraces invite an engaged connection with the city from every residence. Two things really set 56 Leonard apart: its height and its silhouette.

Heading the tour of this project and speaking about this iconic residential tower in the New York Skyline was Stanford Real Estate Professional's 2017 Hall of Fame Honoree, Daniel Neidich ('74)

Mr. Neidich is Chief Executive Officer of Dune Real Estate Partners LP. Dune manages real estate private equity funds with over $2.5 billion of equity capital under management. The funds target opportunistic investments in the U.S and Europe. Prior to founding Dune, Mr. Neidich was at Goldman Sachs where he was a member of the Management Committee, co-head of the Merchant Banking Division, and Chairman of the Whitehall Investment Committee. Mr. Neidich joined Goldman Sachs in 1978, became a partner in 1984 and became head of Goldman’s Real Estate Department in 1990. In 1992, he formed the Real Estate Principal Investment Area, in 1998 he became co-head of the Merchant Banking Division, and in 1999 he joined the firm’s Management Committee. He received an MBA from Stanford University Graduate School of Business and a BA from Yale University.

Dune Real Estate Partners LP, along with Goldman Sachs' Whitehall Funds, provided the equity capital for the 56 Leonard project.

Following the tour, everyone gathered for dinner at Tiny's and the Bar Upstairs. SPIRE Executive Director, Elizabeth Youngblood ('91), led the group in an impromptu mingling game which transitioned into a Q&A with Daniel Neidich around real estate career advice. Two advice take-aways were 1. rely on your banking relationships and 2. hold onto your real estate. Additionally, Daniel told attendees to take note that “Assets Under Management (AUM) are the enemy of returns but the friend of raising money."