Investments & Principals
Investments
Turks Capital principals and Angelo Gordon & Co. purchased 1440 Broadway near Times Square for $152 million. The property was renovated, repositioned and re-leased over a 4-year period and later resold to American Realty Trust and CIM for $640 million.
Turks Capital principals James Hochfelder and Adam Hochfelder and their partner, the Bass Family, acquired The Helmsley Building at 230 Park Avenue for $300 million. Later, Dubai Fund NCO bought the property for $705 million.
Turks Capital principals and the Carlyle Group successfully acquired the 185,000 square foot Tommy Hilfiger Building at 485 Fifth Avenue for $88 million, and developed this property into NYC’s first Hyatt Andaz. The property was sold in 2016 to Japan’s Takenaka Corporation for $212 million.
Turks Capital principals Adam Hochfelder and James Hochfelder and their partner Credit Suisse acquired a portfolio of commercial and residential buildings in New York and Chicago for $740 million.
Turks Capital and CitiGroup purchased 237 Park Avenue for $455 million. That same year, Turks Capital and the Hochfelders partnered with Lone Star Fund from Texas to pay $320 million to acquire 450 West 33rd Street (now known as 5 Manhattan West in Hudson Yards which is currently own by Brookfield).
In 2013, Turks Capital principal Adam Hochfelder and his partners contracted to acquire 1619 Broadway, the Brill Building, for $185 Million in Times Square. Later that year, this interest was acquired at a $226 million valuation.
In 2015, Hochfelder and his partners acquired a $110 million assemblage of 1802-1810 Second Avenue, which is now Manhattan’s first super-luxury Senior Living Facility.
In 2017, Turks Capital principal Hochfelder and his partners, along with and Roche Enterprises acquired, developed a 105 Room Hotel in Hudson Yards North which is now home to Cachet Hotel NYC.
In 2018, Hochfelder and his partners acquired the Z Hotel, a 100 Room waterfront hotel in Long Island City overlooking Manhattan.
In the Caribbean, Hochfelder and Wachovia (now Wells Fargo) acquired the Starwood Aruba Resort and Casablanca Casino in the Caribbean from Oswaldo Cisneros, CEO of Pepsico South America.
Turks Capital Principals Adam Hochfelder (left) and James Hochfelder
Principals: Adam Hochfelder | James Hochfelder
Adam Hochfelder graduated from the University of Pennsylvania’s Wharton School of Business in 1993 and began his professional career while he was still studying at Wharton.
Turks Capital principal Adam Hochfelder became one of the youngest people ever chosen to serve on the Real Estate Board of New York, and just two years later, he was appointed to serve on NYC’s Economic Development Committee by Mayor Michael Bloomberg. Hochfelder was invited to join the NYC’s bid committee for bringing the 2012 Summer Olympics to New York by Deputy Mayor Dan Doctoroff.
Turks Capital principals James Hochfelder and Adam Hochfelder have a long history of philanthropy and dedication to sustainability and humanitarian causes. Adam Hochfelder has been honored by multiple National Charities for his philanthropic endeavors including the Peoples Award in 2017 for his outstanding dedication to urban renewal. Adam founded and funded the development of the NYC Parenting Center at the 92nd Street Y which helps first-time mothers in need. He has also helped develop low-income housing in New York and Philadelphia and has been an integral part of the development of various youth sports foundations. James Hochfelder, a longtime member of YPO, is a two-time UJA Man of the Year for his philanthropic contributions and hands-on work dedicated to supporting people in need.