Ashkenazy Acquisition Corporation

What Ashkenazy Acquisition Corporation does

Ashkenazy Acquisition Corporation is a privately held real estate investment firm founded in 1990 by Ben Ashkenazy and headquartered at 600 Madison Avenue in New York City. The firm acquires, owns, and operates a diversified portfolio of premier retail, hotel, and office assets, with a current book of more than 100 buildings, over 15 million square feet, and an estimated aggregate value of approximately $12 billion. Its geographic footprint spans the Northeast, Southeast, Midwest, Southwest, and West Coast of the United States, plus Montreal in Canada. Revenue is not publicly disclosed; the firm earns income through rental collections, hotel operations, leasehold and master-lease arrangements, and capital appreciation on owned real estate, with deal pricing negotiated bilaterally based on asset, market, and counterparty terms.

The portfolio is anchored by trophy and landmark assets that include The Plaza Hotel (282 keys, 300,000 sf of retail), Fairmont Copley Plaza Hotel (400 keys, 350,000 sf), Faneuil Hall Marketplace in Boston (63-year leasehold), Union Station in Washington D.C. (84-year leasehold), South Station Boston (33.5M annual visitors), 660 Madison Avenue, The Shops at the Bravern in Bellevue, Bayside Marketplace in Miami, Beverly Connection in Los Angeles, and Forum Towers in Montreal. Tenant rosters blend luxury flagships (Hermès, Louis Vuitton, Gucci, Prada, Chanel, Bergdorf Goodman, Dior, Apple) with necessity and mid-market anchors (Target, Costco, Macy's, Nordstrom, Whole Foods, Bloomingdale's, Saks Fifth Avenue). Capital partners on individual deals have included the Carlyle Group (650 Madison Avenue, 2008), Deka Immobilien Investment (522 Fifth Avenue, 2015), and General Growth Properties (Faneuil Hall and Harborplace dispositions), with ongoing joint venture activity alongside the Gindi family.

Operationally, the firm is founder-controlled and lean — between 51 and 100 employees across in-house acquisitions, finance, construction, leasing, development, and marketing functions — with a leadership team led by CEO/Chairman Ben Ashkenazy, President and Vice Chairman Michael Alpert, and Partner Daniel Levy, supported by regional Senior Vice Presidents covering New York, Boston, San Antonio, and Chicago markets. Strategic posture over the 2014–2026 window has emphasized portfolio recycling: large-scale acquisitions (Avalon Chrystie Place $400M in 2014, NYLO Hotel $140M+ in 2016, Neiman Marcus Beverly Hills in December 2025) have been interleaved with disposals and joint ventures, including the March 2026 sale of Beverly Connection to Cedars-Sinai for approximately $270 million, financed in part by a stated $750 million fund strategy.

Name

Ashkenazy Acquisition Corporation

Legal name

Ashkenazy Acquisition Corporation

Website

https://aacrealty.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

51–100 employees

Short description

Ashkenazy Acquisition Corporation is a private New York-based real estate investment firm founded in 1990 that owns and operates a $12 billion portfolio of more than 100 premier retail, hotel, and office properties across the United States and Canada.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Real estate investment
• Commercial property leasing
• Luxury retail properties
• Hotel real estate assets
• Mixed-use developments

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Core offering

Ashkenazy Acquisition Corporation is a private real estate investment firm that acquires, owns, leases, and manages a portfolio of premier urban retail, hotel, and office properties across the United States and Canada. The firm invests in trophy assets—such as the Plaza Hotel, Fairmont Copley Plaza, Bayside Marketplace, and the Shops at the Bravern—and leases space to luxury and mainstream retail tenants while operating luxury hotels directly. Revenue is generated from tenant lease payments and hotel operations across 100+ properties totaling more than 15 million square feet and valued at approximately $12 billion.

Product overview

Ashkenazy Acquisition Corporation operates a diversified portfolio of over 100 real estate properties valued at $12 billion across the United States and Canada. The company's core offering consists of retail, hotel, and office assets organized into distinct property categories: premium shopping destinations (Bayside Marketplace, Shops at Rivercenter, The Shops at the Bravern, Beverly Connection, Vernon Hills Village, The Shops at Atlas Park, Orland Park Place, Queens Center, Gateway Centre, Cross Bronx Plaza, Cross County Mall, Bay Harbour Shopping Center, 69th Street District, Toms River Center, Nostrand Plaza), luxury hotels (Plaza Hotel, Fairmont Copley Plaza Hotel, Arthouse Hotel, Residences at the Little Nell), mixed-use developments (South Station Boston, 660 Madison Avenue, 9570 Wilshire Boulevard, 25 East Oak Street, 700 North Michigan, The Shops at The Chatham, 200 Central Park South, The Chrystie, 800 Madison Avenue, Park View Village, Forum Towers), and specialized luxury retail (Neiman Marcus - Beverly Hills). These properties collectively span over 15 million square feet and are positioned in premier urban locations.

Differentiator

Problem solved

Functional benefit

Products and services

• Bayside Marketplace Dynamic open-air festival marketplace built on Miami's waterfront featuring 22 acres of shopping, dining, and entertainment with over 25 million annual visitors. Leased to retail, dining, and entertainment tenants.
• Shops at Rivercenter Premier shopping, dining, and entertainment destination in downtown San Antonio between the Alamo and River Walk, featuring over 100 retailers, 20+ restaurants, IMAX/AMC theaters, and a 1,000-room Marriott Hotel.
• Plaza Hotel Iconic New York luxury hotel since 1907 at Fifth Avenue and Central Park South, featuring 300,000 sf of shops and 282 hotel keys, with high-end retailers including Bergdorf Goodman and Louis Vuitton. Combines luxury hotel operations with luxury retail leasing.
• South Station Boston Boston's main transit hub with over 33 million annual visitors, featuring 300,000 sf of retail and office space with food, convenience, and retail tenants including CVS, Dunkin Donuts, and McDonald's.
• Fairmont Copley Plaza Hotel Historic luxury hotel in Boston's Back Bay since 1912, featuring 350,000 sf of shops and 400 hotel keys, anchored by Oak Long Bar and Kitchen. Combines luxury hotel operations with ground-floor retail leasing.
• Arthouse Hotel 300-room boutique hotel on Manhattan's Upper West Side housed in a century-old building, featuring dining at RedFarm and Serafina. Hotel operations with on-site F&B tenants.
• Residences at the Little Nell Only ski-in/ski-out, Five-Star, Five-Diamond resort in Aspen with 12,000 sf of shops and hotel suites, featuring luxury retailers including Prada, Burberry, Gucci, and Fendi. Combines luxury resort/hotel operations with high-end retail leasing.
• The Shops at the Bravern Pre-eminent luxury shopping destination in the Pacific Northwest in Bellevue, WA, featuring 310,000 sf of luxury shops with Hermès, Louis Vuitton, Gucci, Prada, and other high-end tenants, plus 19 stories of luxury apartments and 750,000+ sf of office space leased to Microsoft.
• 660 Madison Avenue Twenty-two story mixed-use office building in New York's Plaza District, former iconic Barney's New York building with 275,000 sf of retail and office space featuring Apple, Dior, Fendi, and Hermès.
• Neiman Marcus - Beverly Hills Luxury department store in the Beverly Hills Golden Triangle near Rodeo Drive with 179,067 SF of upscale fashion, accessories, and home décor featuring Gucci, Louis Vuitton, Chanel, and Prada.
• 9570 Wilshire Boulevard Eight-story property housing the Beverly Hills outpost of Saks Fifth Avenue with 115,000 sf of retail space featuring Celine, Prada, Louis Vuitton, and other luxury tenants.
• 25 East Oak Street Four-story property in Chicago's Gold Coast neighborhood housing the Hermès flagship store with 50,000 sf of retail.
• 700 North Michigan Eight-story property anchored by Saks Fifth Avenue in Chicago's Magnificent Mile retail district with 300,000 sf of mixed-use space featuring Neiman Marcus, Nike Town, and Tiffany & Co.
• The Shops at The Chatham Luxury retail and residential condo on Manhattan's Upper East Side at 65th Street and Third Avenue with 36,000 sf of retail, office, and parking featuring Bloomingdale's.
• 200 Central Park South Retail and medical condo at the base of a luxury building near Central Park, Columbus Circle, and Fifth Avenue shopping corridor with 35,000 sf featuring Nordstrom, Whole Foods, and Equinox.
• The Chrystie Mixed-use building on Manhattan's Lower East Side with approximately 400 apartments and 80,000 sf of retail space, featuring Public Hotel, The New Museum, and luxury retailers.
• 800 Madison Avenue Prime residential tower at 67th Street and Madison Avenue in Manhattan's luxury sub-market with 50,000 sf of luxury shops and 53 residential units featuring Tory Burch, Chanel, and Armani.
• Park View Village Mixed-use development in Little Neck, Queens at the intersection of major expressways with 1.5 million sf of mixed-use space.
• Forum Towers Six-level urban mixed-use complex on Montreal's premier retail and entertainment address at St. Catherine Street and Atwater Avenue with 1.2 million sf of mixed-use space.
• Beverly Connection 340,000 sf retail center in LA's premier shopping destination between Beverly Hills, Miracle Mile, and West Hollywood featuring Target, Nordstrom Rack, and Saks Off 5TH.
• Vernon Hills Village Upscale open-air shopping center in Westchester County, NY with 500,000 sf of retail, office, and medical space featuring West Elm, Athleta, Banana Republic, and Barnes & Noble.
• The Shops at Atlas Park Outdoor shopping experience in a park-like setting in Central Queens with 12 acres and 1,400 parking spaces featuring HomeGoods, TJ Maxx, ULTA Beauty, and Regal Cinemas.
• Orland Park Place Major power-center retail complex in Orland Park, IL serving 160,000+ residents within a five-mile radius with 580,000 SF featuring Dick's Sporting Goods, Nordstrom Rack, and Ross Dress for Less.
• Flagship Pavilion at Queens Center Retail center at the intersection of the Long Island Expressway and Queens Boulevard attracting over 27 million visitors annually with 200,000 sf featuring Macy's, Apple, and Cheesecake Factory.
• Gateway Centre Shopping center near downtown Evanston and Chicago with 195,000 SF featuring Jewel-Osco, Burlington, Marshalls, and Esporta Fitness with 659 public parking spaces.
• Cross Bronx Plaza Retail center in the Bronx with easy access to the Cross Bronx Expressway (153,000+ vehicles/day) featuring Stop & Shop, TJ Maxx, Chase, and IHOP with 150,000 sf.
• Cross County Mall Busiest shopping district in Yonkers and Westchester area at the intersection of NY State Thruway and Cross County Parkway featuring Macy's, Zara, Old Navy, and Burlington.
• Bay Harbour Shopping Center Dominant shopping center in Five Towns, Long Island at Rockaway Turnpike and Nassau Expressway with 300,000 sf featuring Costco, Target, Burlington, and Marshalls.
• 69th Street District Philadelphia's premier urban high street spanning over ten city blocks with 800,000 sf of retail and office housing 60+ tenants including Ross, Burlington, Gap, and Foot Locker.
• Toms River Center Retail center at Route 37 and Garden State Parkway in Toms River, NJ with 250,000 sf featuring Floor & Decor, Staples, Shoprite, and Kohl's.
• Nostrand Plaza Retail center on Nostrand Avenue near Belt Parkway in South Brooklyn with 100,000 sf featuring Blink Fitness, Aldi, and Rite Aid.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights4 records

Direct peers

• Highgate Hotels: Hospitality-focused real estate investor and operator. Joint venture partner with AAC on the Knickerbocker Hotel acquisition, making it a directly comparable counterparty in luxury hospitality acquisitions.
• Vornado Realty Trust: Public NYC-focused REIT specializing in high-street retail and Class A office, including trophy assets like the original Barney's building. Directly comparable to AAC given overlapping NYC retail focus and prior transaction counterparty relationship (Vornado sold Beverly Connection to AAC).
• SL Green Realty Corp. Largest NYC office landlord with retail components. Comparable to AAC's NYC office and mixed-use holdings such as 660 Madison Avenue and 800 Madison Avenue.
• RFR Realty: Privately held NYC real estate investor known for trophy office and hotel assets including the Seagram Building and St. Regis. Comparable to AAC's focus on irreplaceable Manhattan trophy properties.
• Centurion Realty: NYC retail-focused real estate investor led by Ralph Tawil. Repeated JV partner with AAC on multiple NYC retail acquisitions, making it a closely comparable investor in the same niche and an active co-bidder.
• Crown Acquisitions: Privately held NYC retail and hospitality investor. Jointly acquired the Knickerbocker Hotel with AAC, making it a co-investment partner as well as a directly comparable principal in urban luxury retail and hotel real estate.
• Related Companies: Major privately held developer of luxury mixed-use and retail properties including Hudson Yards and the Shops at Columbus Circle. Comparable to AAC in luxury retail/mixed-use positioning and large-scale urban development.

Broad incumbents

• Brookfield Property Partners: Global real estate platform owning major retail, office, and hospitality assets including former General Growth Properties malls. Comparable given prior JV partner role with AAC (Miami Design District) and similar trophy-asset focus.
• Macerich Company: Public REIT focused on dominant U.S. regional malls and luxury centers. Comparable to AAC's secondary-market power centers (Orland Park Place, Cross County Mall) and trophy mall holdings (Faneuil Hall).
• Simon Property Group: Largest U.S. retail REIT with a national portfolio of malls, premium outlets, and luxury destinations. Broader and publicly traded relative to AAC, but comparable in its focus on dominant retail centers and luxury tenant rosters.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ashkenazy Acquisition Corporation