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Joseph Moinian

Joseph Moinian


Born
Joseph Moinian

February 29, 1954
ResidenceManhattan, New York City
NationalityUnited States
EducationCity College of New York
Forest Hills High School
OccupationReal Estate Developer
OrganizationThe Moinian Group
Known forFounder and CEO of the Moinian Group
Board member ofReal Estate Board of New York
Skyscraper Museum
Spouse(s)Nazee Moinian
ChildrenMatthew Moinian
Mitchell Moinian
Mahtab Moinian
Michaela Moinian
Morgan Moinian
Parent(s)Ayoub Moinian
Sarah Moinian
WebsiteMoinian.com

Joseph Moinian is an Iranian-American investor, real estate developer, and philanthropist. He is the Founder and Chief Executive Officer of The Moinian Group, one of the country's largest privately held real estate firms.[1]

Joseph Moinian is known for his superb investment, development and management strategies, forging new neighborhoods and spearheading the transformation and enhancement of property values and environments. The New York City-based developer, investor and long-term owner of prime real estate nationwide is recognized for pioneering the development of emerging neighborhoods in major metropolitan cities across the United States.[2]

Moinian has over 30 years of experience in owning, developing, and managing a wide-ranging portfolio throughout the United States, and has developed a reputation for innovative and value-creating investments.[3]

Mr. Moinian is a noted philanthropist who supports the arts, civic organizations and healthcare issues. He resides with his wife Nazee and their five children in Manhattan.


Early Life

Moinian was born in Teheran to an Iranian Jewish family, the son of Ayoub Moinian and Sara Moinian.[4] His father was also a real estate developer.[4] At the age of 17, Moinian immigrated to the United States by himself.

Moinian enrolled in Forest Hills High School and graduated, then enrolled in City College.

Real Estate Investment Career

After arriving in the United States at the age of 17, Moinian began his first job working in the kitchen at the Cozy Corner restaurant in Forest Hills, Queens.[5] Moinian’s first business venture was in women’s fashion. He utilized his knowledge and understanding of the textile business to create Billy Jack for Her, a successful ladies’ apparel company named after the 1971 movie “Billy Jack.”[6]

The Moinian Group

In 1982, Joseph Moinian founded The Moinian Group to invest in real estate [7], leveraging his earnings from his apparel company to purchase buildings in Manhattan. Moinian’s first acquisition was made at 450-460 Park Avenue South, an office building located in Midtown South.[8]

Real Estate Portfolio

Since 1982, The Moinian Group has grown into one of the largest privately-held real estate companies in the United States, with a portfolio of over 20 million square feet across major cities including New York, Miami, Dallas, and Los Angeles. The Moinian Group funds, develops, and owns properties in every major asset category, including office, hotel, retail, and residential, valued at over $8 billion. [9] [10]

  • In 1982, The Moinian Group acquired nine buildings in the Flatiron District as part of a West Gramercy package acquisition.[11]
  • In 1992, the firm acquired 60 Madison Avenue[12] and 72 Madison Avenue,[13] two buildings in Midtown South, both totaling 250,000 square feet of space adjacent to Madison Square Park. The Moinian Group continues to own and operate both 60 and 72 Madison Avenue.[14]
  • In 1997, The Moinian Group purchased and transformed 100 John Street[8] from an office property to a luxury 221-unit residential rental property. This transformation marked the first such conversion in Downtown Manhattan.
  • In 1999, the company acquired 17 Battery Place, a three-building complex overlooking Battery Park, for $42 million. In addition to the complex’s office component, Moinian reshaped a portion of the property into an amenitized luxury rental apartment development known as Ocean.[15]
  • In 2000, Moinian purchased 1775 Broadway, the former headquarters of Newsweek and General Motors,[16] from Lester Weindling for $130 million. He quickly renovated the property, now known as 3 Columbus Circle, wrapping the building in sleek glass.[17]
  • In 2004, Moinian partook in the acquisition of the 110-story Sears Tower in Chicago for $840 million. Moinian partnered with Joseph Chetrit, Lloyd Goldman, and Jeffrey Feil in this transaction, eventually renaming the property Willis Tower in 2009.[18]
  • Between 2005 and 2007, he expanded his portfolio by taking advantage of the fierce rivalry among lenders.[19] During this time, Moinian acquired two large residential properties, The Marc and Atelier, the Zues portfolio at 535-545 Fifth Avenue, and The Renaissance Tower, a trophy office tower in Texas.[20]
  • In 2010, The Moinian Group completed the W New York - Downtown Hotel and Residences, a 630-foot tall building in the Financial District of Lower Manhattan. The property consists of a 217-room hotel, 223 luxury residential condominiums, and an observation deck.[21]
  • Other national properties owned or developed by Joseph Moinian include 765 Broad Street in New Jersey[22] and the International Jewelry Center in California.[23] Moinian's hotel portfolio consists of the W Downtown New York[24], the Hilton Garden Inn[25] and Hotel Mela[26] in Midtown, and the Sugar Bay Resort & Spa in St. Thomas.[27]


Manhattan's Far West Side

Moinian is a pioneer in the development of New York City’s West Side development, specifically focused on the Hudson Yards and High Line areas. [28]

  • The Moinian Group is currently developing 3 Hudson Boulevard, a 2 million square foot, Class A office tower in the Hudson Yards District, in collaboration with Boston Properties. The building will occupy the entire block between 11th Avenue and Hudson Boulevard Park, extending from West 34th Street to West 35th Street. Occupancy is expected to begin in 2023.[29]
  • Mr. Moinian also developed Sky, Manhattan's largest residential tower, in 2015. The 71-story development brings 1,175 luxury units to Manhattan's far West Side - in addition to two outdoor pools, a nail salon, and a full-sized basketball court.[30] [31]
  • In 2018, The Moinian Group launched leasing for Oskar, its Hell's Kitchen rental property on Eleventh Avenue. The highly amenitized property features 14 stories and 118 luxury apartments.[32]


Current Projects

In addition to 3 Hudson Boulevard, Mr. Moinian is currently developing properties at 123 Linden Boulevard, 2 Washington Street, 220 Eleventh Avenue, and 7 Platt Street, according to the company’s website.[33]

Lending and Venture Capital

Joseph Moinian recently announced the addition of two new arms to his company[34]:

  • Currency M, led by Moinian's son Mitchell, is the Moinian Group's venture capital arm, providing early-stage investment, support, and resources to innovators seeking to redefine the built environment. Currency M has invested in 11 companies to date.[34]
  • Moinian Capital Partners provides flexible financing solutions for premier commercial real estate projects throughout the United States. Moinian Capital Partners has committed close to $1 billion into the commercial real estate market.


Personal Life

Joseph Moinian is married to Nazee Moinian, also from Iran, who he met when he was 26. They have five children and reside in Manhattan, New York City. Moinian has secondary residences in Quogue, New York as well as Miami, Florida. [5][35]

Moinian has five children: Matthew Moinian, Mitchell Moinian, Mahtab (Max) Moinian, Michaela Moinian, and Morgan Moinian. Both Mitchell and Max Moinian are actively involved in the operation of the family business, The Moinian Group. [36]

Moinian has two brothers: Morris Moinian, real estate developer and founder of Fortuna Realty Group[37], and David Moinian, real estate developer and founder of Moin Development Corp.[38]

Moinian is Jewish. [39] He is active within the Persian Jewish community and is involved in the development of a temple Midwood, Brooklyn.[39]

Philanthropy

Moinian is a noted philanthropist who supports the arts, civic organizations and healthcare issues.[1]

  • The Moinian Group is a founder of the 9/11 Museum and has donated roughly $5 million prior to the museum’s dedication in 2014. Moinian is a member of the board of the 9/11 Museum. [40]
  • Joseph Moinian is a member of the Urological Board of New York's Mount Sinai Hospital, which was recently recognized for having one of the nation's finest urology programs. [41]
  • Additionally, Moinian serves on the executive committee of the UJA Federation's real estate division. [42]
  • Moinian was recently the guest of honor at the second-annual fundraiser to benefit the Center for Special Children in Lakewood, New Jersey. [43]

Recognition & Awards

Joseph Moinian is a member of the Board of Governors of the Real Estate Board of New York and sits on the boards of the Skyline Museum.[44]

In 2019, Moinian was named #29 in The Commercial Observer's Power 100: Commercial Real Estate's Most Powerful Players.[45]

Additionally, The Moinian Group was named Manhattan’s #5 most active developer by The Real Deal in 2018, with 2.6 million square feet of development activity.[46]

References

  1. ^ a b "Board of Directors, CEO Joseph Moinian Bio | Moinian Group". moinian.com. Retrieved 2019-06-21.
  2. ^ "Visit REBNY". www.rebny.com. Retrieved 2019-06-21.
  3. ^ Gregor, Alison (2006-05-21). "After a Buying Spree, It's Time to Develop". The New York Times. ISSN 0362-4331. Retrieved 2019-06-21.
  4. ^ a b Real Deal: "Morris Moinian to break ground on $60M Soho hotel" By Katherine Clarke December 05, 2011
  5. ^ a b "Joe Moinian". The Real Deal New York. Retrieved 2019-06-21.
  6. ^ "Moinian Group Properties Acquisition Timeline | Moinian Group". moinian.com. Retrieved 2019-06-21.
  7. ^ "Moinian Group Properties Acquisition Timeline | Moinian Group". moinian.com. Retrieved 2019-06-21.
  8. ^ a b May 20, The Moinian Group; Am, 2019 9:11 (2019-05-20). "The Moinian Group Branches Out: How Tech And Lending Augment Their Vast Portfolio". Commercial Observer. Retrieved 2019-06-21.
  9. ^ "Joe Moinian". The Real Deal New York. Retrieved 2019-06-21.
  10. ^ "Moinian Group Properties Acquisition Timeline | Moinian Group". moinian.com. Retrieved 2019-06-21.
  11. ^ "Moinian Group Properties Acquisition Timeline | Moinian Group". moinian.com. Retrieved 2019-06-21.
  12. ^ "72 Madison Ave | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  13. ^ Garbarine, Rachelle (1999-09-10). "Residential Real Estate; Changing Old Buildings To Harbor Apartments". The New York Times. ISSN 0362-4331. Retrieved 2019-06-21.
  14. ^ "60 Madison Avenue | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  15. ^ Oser, Alan S. (1999-09-15). "Commercial Real Estate; Developer Is Stepping Up Its Activity in West Midtown Area". The New York Times. ISSN 0362-4331. Retrieved 2019-06-21.
  16. ^ "Kind of Blue: Joe Moinian Lives the 3 Columbus Circle Dream". Observer. 2011-09-21. Retrieved 2019-06-21.
  17. ^ "Joseph Chetrit, the Most Mysterious Big Shot in New York Real Estate". Observer. 2011-07-05. Retrieved 2019-06-21.
  18. ^ Pristin, Terry (2009-01-13). "Moinian, a Real Estate Magnate, Is on a Tightrope". The New York Times. ISSN 0362-4331. Retrieved 2019-06-21.
  19. ^ "Moinian Group Properties Acquisition Timeline | Moinian Group". moinian.com. Retrieved 2019-06-21.
  20. ^ "W New York Downtown Hotel and Residences", Wikipedia, 2019-03-25, retrieved 2019-06-21
  21. ^ "756 Broad Street (NJ) | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  22. ^ "International Jewelry Center - Moinian". moinian.com. Retrieved 2019-06-21.
  23. ^ "The W New York Downtown | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  24. ^ "Hilton Garden Inn - Moinian". moinian.com. Retrieved 2019-06-21.
  25. ^ "Hotel Mela | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  26. ^ "Sugar Bay All Inclusive Resort St. Thomas | The Moinian Group". moinian.com. Retrieved 2019-06-21.
  27. ^ "Moinian Corporate Brochure" (PDF).
  28. ^ July 23, Betsy Kim |; AM, 2018 at 10:07. "Boston Properties Joins the Moinian Group in Developing 3 Hudson Blvd". GlobeSt. Retrieved 2019-06-21.
  29. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2019-06-21.
  30. ^ REW (2018-11-07). "Moinian secures $140M for luxury high-rise Ocean at One West". Real Estate Weekly. Retrieved 2019-06-21.
  31. ^ Warerkar, Tanay (2018-04-16). "Hell's Kitchen rental brings apartments from $3,000/month to 11th Avenue". Curbed NY. Retrieved 2019-06-21.
  32. ^ "Projects Under Development Archives - Moinian". moinian.com. Retrieved 2019-06-21.
  33. ^ May 20, The Moinian Group; Am, 2019 9:11 (2019-05-20). "The Moinian Group Branches Out: How Tech And Lending Augment Their Vast Portfolio". Commercial Observer. Retrieved 2019-06-21.
  34. ^ a b Cite error: The named reference :3 was invoked but never defined (see the help page).
  35. ^ "NY developer Joseph Moinian pays $12.5M for Leon Black's Faena House unit". The Real Deal Miami. 2017-01-16. Retrieved 2019-06-21.
  36. ^ "Joe Moinian". The Real Deal New York. Retrieved 2019-06-21.
  37. ^ "Morris Moinian | TRD Research". therealdeal.com. Retrieved 2019-06-21.
  38. ^ "Moin Development | TRD Research". therealdeal.com. Retrieved 2019-06-21.
  39. ^ a b "Moinian plans Midwood religious facility for Persian community". The Real Deal New York. 2017-12-20. Retrieved 2019-06-21.
  40. ^ "Founders". National September 11 Memorial & Museum. Retrieved 2019-06-21.
  41. ^ "Urological Care & Services NYC | Mount Sinai - New York". Mount Sinai Health System. Retrieved 2019-07-01.
  42. ^ "Real Estate". UJA-Federation of New York. Retrieved 2019-07-01.
  43. ^ "Retail heavyweights turn out for children's charity benefit". The Real Deal New York. 2018-02-14. Retrieved 2019-06-21.
  44. ^ "Visit REBNY". www.rebny.com. Retrieved 2019-06-21.
  45. ^ "The Power 100: Commercial Real Estate's Most Powerful Players". Commercial Observer. 2019-04-23. Retrieved 2019-06-21.
  46. ^ "Who are NYC's most active developers?". The Real Deal New York. 2018-12-27. Retrieved 2019-06-21.

External Links

  • City University of New York - The Stoler Report: "Joseph Moinian, The Moinian Group October 10, 2006