Ownership Expertise
Service Approach
Vision
Passive ownership of office buildings is risky. Value is stabilized through proactive tenant retention and enhanced through careful deployment of capital. Strategic thinking, deep local relationships, and operational know-how are essential.
Revelin offers comprehensive and fully integrated management of office buildings in a manner that is perfectly aligned with the interests of its partners.
Revelin is focused exclusively on New York office buildings, where we have 30 years of experience.
Revelin has a clear vision for how New York office buildings will recover and where opportunities will emerge.
Founder
Simon Wasserberger has nearly 30 years of experience maximizing the value of office buildings. He has overseen every aspect of building ownership from complex redevelopments to challenging leasing assignments. He has worked with institutional owners (e.g. Blackstone) as well as local families and entrepreneurs. He maintains deep relationships in the leasing, construction, and management communities.
Career highlights include:
Complete oversight of Blackstone’s 7 million sq. ft. portfolio of East Coast office properties.
Led visionary redevelopments of 390 Madison Avenue, Park Avenue Tower, 150 Fifth Avenue, and 1740 Broadway.
Led the leasing efforts at Rockefeller Center in the aftermath of the 9/11. Led third-party leasing teams for 7 World Trade Center, 11 Times Square, 300 Park Avenue, 222 Broadway, 730 Fifth Avenue, and many other iconic buildings.
Experience
390 Madison Avenue
Led the >$400M redevelopment of this 1955 building, which included adding 8 new floors, removing 160,000 sq. ft. of slab on existing floors, installing a new façade, and modernizing all building systems. The project was 100% leased prior to completion.
Rockefeller Center
Asked to lead the leasing team following the attacks of September 11. Achieved full occupancy within 18 months through an innovative flexible lease program and strong broker relationships.
222 Broadway
Relocated existing lobby to take advantage of new Fulton Street Transportation Hub, while creating valuable new corner retail.
1740 Broadway
This ground-breaking partnership with a Michelin-Star chef re-imagined the office building experience, and has been copied by many other New York owners. The $18m project was more cost-effective and achieves a greater ROI than the previously-conceived $40m lobby and storefront project..
Park Avenue Tower
Oversaw redevelopment of lobby and creation of New York’s most copied amenity space. Project achieved and sustained >90% occupancy despite Covid.
150 Fifth Avenue
Harvested ZSF (Zoning Square Footage) from obsolete fire stairs to allow the construction of 2 new floors at the top of a 100-year-old building. 100% leased to Mastercard prior to completion.
Scope of Services
Asset Strategy & Oversight
Development of overall value creation, stabilization, and/or disposition strategy.
Engagement and supervision of all third-party vendors, consultants, brokers, etc.
Reporting
Leasing
Engagement and supervision of leasing brokers.
Development of marketing plan and materials.
Negotiation of tenant leases.
Tenant retention
Property Management
Engagement and supervision of 3rd-party management
Oversight of all budgeting and reporting, sustainability initiatives, and tax management.
Construction
Engagement and supervision of 3rd party construction management.
Disposition
Develop disposition strategy, including lien clearance.
Engagement and supervision of sales broker.
Acquisition
Underwriting, including qualitative and quantitative analyses.
Engagement and coordination of third-party due diligence teams.
Transition oversight.