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The Continuum Company “TCC” is a privately held real estate development firm based in New York City. TCC’s core business is the acquisition and development of residential (both for sale and rental housing), office, hospitality and retail space in New York, Miami, and Las Vegas. To date, TCC has developed more than 12 million square feet totaling over $6 billion.
Under the direction of Ian Bruce Eichner, the company’s founder, TCC’s team of real estate professionals has a successful track record of developing complex, multi-phased projects from inception to occupancy. The company is involved in all aspects of development including acquisition and finance, design and construction, sales and marketing, and project management.
"The Continuum Company has developed more then 12 million sq.ft., totaling over $6 billion."
TCC’s primary focus has been on the development of properties in New York City. These properties include Montague Street, The Richmond, The Boulevard, One Broadway Place, The America, Citispire, The Royale, The Manhattan Club, and The Kingsley.
The Continuum on South Beach, TCC’s first venture outside of New York City, resulted in the development of a 2-tower gated-community on the ocean, with first class amenities, spa and private beach club. The property is the first and only gated community in South Beach.
The Cosmopolitan Resort and Casino, TCC’s second venture outside of New York City, that used an urban development model to maximize the potential of an 8.5 acre parcel ideally situated on the Las Vegas strip. The development resulted in the construction of over 6.5 million square feet.
The Cosmopolitan (Estimated Completion 2010): A 6.5 million square foot hotel/condo/casino centrally located on the Las Vegas strip. The 8.5 acre resort consists of two towers containing 2,200 condo-hotel units and 800 hotel rooms. The development features approximately 150,000 square feet of convention and meeting space, a 100,000 square foot casino, 250,000 square feet of retail and restaurant space, a 40,000 square foot spa and fitness facility, a 1,800- seat theater, multiple beach decks with a Beach Club overlooking the Las Vegas strip and a 5-level underground parking garage with 4,000 spaces.
Continuum on South Beach (2002/2008): The only gated oceanfront community at the southern tip of Miami Beach. The 12-acre property totals approximately 1.4 million square feet and consists of two towers, one with 317 condominiums (including 14 townhouses) and 14 cabanas, and a second with 213 condominiums (including 7 townhouses and 7 lofts) and 14 cabanas. The project contains a 20,000 square foot spa and fitness center with a rooftop lap pool, three clay tennis courts with a pro shop, and 1,000 linear feet of beach frontage with a private beach club.
Montague Street (1998): A 33-story, luxury rental and retail development located on Montague Street in Brooklyn Heights, New York. The building totals approximately 212,000 square feet and consists of 192-units, a fitness center, outdoor roof deck, retail space on the ground floor and a parking garage. This was the first new high-rise apartment building to be developed in Brooklyn Heights since 1965.
The Richmond (1997): A 25-story luxury condominium building located at Third Avenue and 80th Street in New York City. The building totals approximately 250,000 square feet and consists of 101 residential units and 40,000 square feet of retail, professional offices and storage space.
The Manhattan Club (1995): A 26-story urban timeshare located at 200 West 56th Street between 7th Avenue and Broadway in New York City. The 215,000 square foot building consists of 286 units, representing 14,872 ownership weeks. The Manhattan Club owners have access to a private bar/lounge, business center, meeting rooms, fitness facility, library, and two sun lounge terraces. The Manhattan Club was the first timeshare in New York City. It adapted the notion of traditional timeshares to an urban environment by allowing buyers to purchase 7-day intervals for use in single-day increments.
One Broadway Place (1990): A 44-story mixed-use development located on Broadway and 45th Street in Times Square, New York City. The building totals approximately 1,100,000 square feet and consists of 900,000 net rentable square feet including a 150,000 square foot multi-level retail space, which houses a Loews multiplex theater and a 50,000 square foot below grade parking garage.
The Boulevard (1989): A 20-story luxury condominium located on Broadway between West 86th and West 87th Streets in New York City. The building totals approximately 480,000 square feet and consists of 355 residential units, a health club with an Olympic size swimming pool, racquetball and squash facilities, as well as 25,000 square feet of retail space which houses an underground supermarket and a 40,000 square foot parking garage.
Cityspire (1987): A 72-story mixed-use skyscraper located on 56th Street between Sixth and Seventh Avenues in New York City. The building totals over 850,000 square feet and consists of 340 residential units, a health club, 24 floors of office and retail space, and a two-level parking garage.
The America (1986): A 36-story luxury condominium building located at Second Avenue and 85th Street in New York City. The building totals approximately 220,000 square feet and consists of 200 residential units, retail space and a parking garage.
The Royale (1985): A 42-story luxury condominium building located at Third Avenue between 63rd and 64th Streets in New York City. The building totals approximately 250,000 square feet and consists of 205 residential units and 25,000 square feet of retail space, including an underground supermarket and a 17,000 square foot parking garage.
The Kingsley (1984): A 40-story luxury condominium building located at First Avenue and 70th Street in New York City. The 216,000 square foot building consists of 210 residential units, retail space and a parking garage.
Construction Start: 2005
Estimated Completion Date: 2010
The Facts:
• Cost: $3.8 Billion
• 8.5 acres
• Total Gross Square
Feet: 6,500,000
• Mixed Use:
• 2,200 condominium-
hotel units,
800 hotel rooms
• 100,000 SF of casino
• 250,000 SF of retail and
restaurant space
• 150,000 SF of
meeting/convention
space
• 40,000 SF spa and
fitness facility
• 1,800 seat theater
• 5-level underground
parking garage
(4,000 spaces)
Opportunity :
• Availability of an 8.5 acre parcel of land on the Las Vegas strip.
• Parcel ideally situated between the Bellagio and City Center, with more
than 70,000 visitors passing by the property each day.
Challenge :
• Size of site was 1/3 of that typically developed for a Las Vegas strip
resort, which was usually more than 25 acres.
• The property wrapped around The Jockey Club, a timeshare property
that could not be acquired, and was being used as an outdoor
parking facility for the owners.
• Development solution had to address the permanent existence of
The Jockey Club.
• Development solution had to include an approach to relocate the
Jockey Club parking facility on an interim basis as well as the
creation of an incentive package which would allow for the ongoing
construction of The Cosmopolitan site while The Jockey Club
remained operational.
Solution :
• Used an urban development model to maximize site potential which
resulted in the ability to build 6.5 million square feet on the
8.5 acre parcel.
• Devised a plan to excavate 62 feet below grade to provide the
required number of parking spaces for the resort.
• Through the government approval process, acquired dense entitlement
approval including a variance on FAA building height restrictions,
a variance which reduced the parking requirement, and a variance on
the set back requirement relating to The Jockey Club line which
granted approval for a 0 feet set back instead of the standard
30 feet set back.
• The development model included 2200 condo-hotel rooms that would
be sold at an estimated value to the project of $1.8 B.
• When the capital markets experienced significant contraction in 2007,
while Cosmopolitan was under construction, a settlement was
negotiated with Deutsche Bank, which, by mutual agreement,
ultimately transferred ownership to the bank.
Year Completed:
Phase 1 (2002) and
Phase 2 (2008)
The Facts:
• Cost: $440 M
• Cost Phase 1: $250 M
• Cost Phase 2: $190 M
• Total Gross Square
Feet: 1,400,000
• Mixed-use:
• Two luxury
condominium towers:
South Tower (Phase 1)
44 stories, 317
Condominiums
(including 14
Townhouses) and
14 Cabanas
North Tower (Phase 2)
40 stories, 213
Condominiums
(including 7 Town-
houses and 7 lofts) and
14 Cabanas
• 12,000 SF of retail
• 12,000 SF of restaurant
• Amenities:
12-acre, gated,
beachfront property
with 2 lagoon pools, a
20,000 SF full service
spa and fitness center
with lap pool, 1000
linear feet of beach
frontage with private
beach club, restaurant,
3 clay tennis courts,
and pro shop
Opportunity:
• 12 acres in South Beach, Miami representing the last and largest parcel
of oceanfront property available in the "South of Fifth" neighborhood
of Miami Beach.
Challenge:
• At the time of the acquisition, the City of Miami enacted a law limiting
property heights in South Beach to 100 feet or 10 stories. This law would
have reduced the scope of the proposed development rendering it
economically unfeasible.
• Although the site encompassed the southernmost acreage on the beach,
the “South of Fifth” neighborhood was not considered a prime
residential location.
• Strict environmental laws governing endangered species, beach erosion
and aquatic life posed design and construction challenges for the
proposed development.
Solution:
• Used the government re-zoning process to gain approval to develop
1.4 million square feet.
• Worked with government/conservation officials to ensure protected
wildlife, habitat and aquatic life were not disturbed during the
development process. A sanctuary for sea turtle nesting was created
ensuring that the nesting sites would not be endangered.
• Property master plan was designed to create the only gated oceanfront
community on South Beach. The development included two high-rise
towers, each with a dedicated pool and parking garage, as well as a
spa and fitness center with lap pool, tennis courts and a private
beach club. The exclusivity and design concept achieved the highest
sales per square foot in South Beach.
• Utilized a phased development approach, which allocated costs for the
overall property amenities (spa/fitness center/tennis courts/beach
pavilion) into Phase 1. This increased the marketability of Phase 1
and Phase 2. More importantly, it decreased the costs associated
with Phase 2, reducing the exposure and significantly increasing
the profitability.
200 West 56th Street, New York, New York
Year Completed: 2006
The Facts :
• Cost: $141 M
(in five phases,
1995 – 2006)
• Total: 26 stories,
286 suites (representing
14,872 saleable weeks)
• Total Gross Square
Feet: 215,000
• Amenities:
4,000 SF private lounge
and bar, 2 meeting
rooms, business center,
state-of-the-art fitness
facility, 2 sun terraces
Opportunity :
• Bankrupt hotel property located on 7th Avenue, between 55th Street
and 56th Street.
Challenge :
• Existing cash flow did not support current mortgage and required a
creative approach to development and financing.
• Property was in considerable disrepair and was in need of renovation
so that the asset could be repositioned in order to generate higher
room rates.
• The possibility of unforeseen conditions was high since the building
was constructed in the 1920’s and structural and architectural plans
were not available.
• The existing hotel would have to remain operational
during construction.
• Proposed redevelopment plan was considered speculative, and
therefore traditional financing was unavailable.
Solution :
• Designed a uniquely structured financing vehicle with seller by using
a combination of Continuum equity, existing cash flow and construction
financing for re-development.
• Applied timeshare concept to property redevelopment. Timeshare
presales and untapped urban market demand provided an alternative
approach to the repositioning of the asset.
• Adapted notion of traditional timeshare to an urban environment
allowing buyers to purchase 7-day intervals for use in
single-day increments.
• An extensive amount of due diligence, structural probing and planning
was required in order to properly lay out timeshare units.
• Development was completed in stages, four floors at a time.
Construction took place while building was fully operational,
requiring an unprecedented amount of coordination between operations,
development and construction personnel.
201 East 80th Street, New York, New York
Year Completed: 1997
The Facts:
• Cost: $40 M
• Total: 25 stories,
101 units
• Total Gross Square
Feet: 250,000
• Mixed use:
• 210,000 SF of luxury
condominiums
• 15,000 SF of retail
• 15,000 SF of professional
offices
• 10,000 SF of storage
• Amenities:
4,000 SF recreational
terrace on the 18th
floor, smaller sun deck
on the third floor,
storage
Opportunity:
• Foreclosed warehouse property on 3rd Avenue and East 80th Street,
a prime Upper East Side location.
Challenge :
• Configuration of the existing footprint was not conducive to the
construction of residential housing and required an innovative
solution for the development to work.
• Existing facility already had more square footage than was allowable
under the current zoning.
• Real estate development market was non-existent following the crash
of the early 90’s.
Solution :
• Divided property into 2 sections, creating a separate residential
and a separate retail condominium.
• Sold the retail condominium (basement, ground floor and second
floor medical space), which represented 10% of total square footage
to Fortune 500 Company for 50% of total acquisition cost.
• Addressed issues relating to the property’s design configuration by
creating an atrium in the center space that provided the necessary
light and air for interior apartments. Relocated the 40,000 square
feet that was derived from creating the center atrium to the top
of the building, creating 8 penthouse units.
• Worked within the existing building code to re-use the existing
non-compliant development rights by leaving 20% of the building
intact during construction.
• Condominiums were 100% sold during construction.
2373 Broadway, NY
Year Completed: 1989
The Facts :
• Cost: $120 M
• 20 stories, 355 units
• Total Gross Square
Feet: 480,000
• Mixed-use:
• 415,000 SF of luxury
“Cond-Op” apartments
• 25,000 SF of retail
• 40,000 SF of parking
below grade
• Amenities:
garage, health club
and pool, sun deck,
racquetball and squash
facilities, supermarket
built below grade and
a subway station at
the corner
The Opportunity:
• Desirable site on Upper West Side available for acquisition at
low cost basis.
Challenge:
• Assemblage required acquisition of an adjacent lot encumbered by a
20-year lease to a garage operator. The garage buyout would increase
the cost basis of the development.
• Plan had to account for the higher cost basis, leaving the residential
development rights in tact and produce an additional revenue stream
utilizing the existing building envelope.
• Market research indicated that the size of the down payment was an
issue for potential buyers.
Solution:
• Completed assemblage by creating an incentive package for the garage
owner that compensated him for lost parking revenue and ultimately
relocating him into a new, larger garage.
• Utilized a “Cond-Op” legal structure that created two separate
condominiums and allowed the developer to structure two separate
financing packages. The residential condominium was converted into
a cooperative by placing a first mortgage on the building. The
resulting “Cond-Op” had the financial advantage of a Co-operative
structure but functioned operationally in the same way as a
condominium. This structure enabled the purchaser to be able to deduct
his mortgage interest payment and reduce the down payment by 25%.
• Created additional revenue streams by locating the supermarket and
parking garage below grade. This approach maximized the
assemblage’s available development rights.
1540 Broadway, NY
Year Completed: 1990
The Facts:
• Cost: $280 Million
• 44 stories
• Total Gross Square
Feet: 1,100,000
• Mixed-Use:
• 900,000 SF of
office space
• 150,000 SF of retail
space including movie
theaters
• 50,000 SF of parking
below grade
• 15,000 SF of
Exterior Signage
• Amenities:
parking garage,
5-level retail space
Opportunity:
• Last potential assemblage in the middle of Times Square.
• Site offered the potential for a development of significant scale.
• Location of site offered 24-hour pedestrian traffic.
• Existing zoning law allowed 18 FAR – the highest density permitted
in the city.
• Special Zoning District permitted large scale.
Challenge :
• Existing zoning was to expire in 1988 (density would decrease from
18 to 15 after the expiration). Therefore acquisition, financing and
foundation construction had a limited time frame.
• Existing office and retail tenants needed to be vacated from the
existing building in order to proceed with the demolition.
• Existing zoning required a certain percentage of billboard-style signage
be placed on the exterior of the building.
• Development concept included 5 levels of retail, a portion of which
was below grade.
• The concept of an indoor, vertical, retail space, partially below grade,
was considered extremely speculative. Banks were unwilling to finance
this type of project without a tenant in place and, in addition, were
extremely skeptical about the viability of a below grade vertical mall.
• Competition for office space from Midtown East buildings made the
proposed $40 psf questionable.
• Core acquisition price made the economics of the deal challenging.
Solution :
• Accelerated the pre-development and permitting schedule in order to
take advantage of the existing higher density.
• Implemented existing demolition clause in existing office and retail
tenant leases in order to vacate the building.
• Developed incentive package for one restaurant tenant, not subject to
the demolition clause, and agreed to put them back into the
new development.
• Negotiated net lease with a national retail REIT for vertical retail
space in order to shift leasing risk and make the project financeable.
• Added 300,000 square feet to the development by procuring unused
development rights from an adjoining landmarked theater and
building five levels below grade.
• Succeeded in securing an amendment to the existing zoning law,
significantly increasing the scope of large-scale exterior signage to
be placed on the exterior of the building. This significantly increased
advertising revenue of the development.
• The additional income from the below grade retail and the exterior
signage made it possible to offer below-market leases to attract
office tenants.
150 West 56th Street, NY
Year Completed: 1987
The Facts:
• Cost: $225 M
• 72 stories, 340 units
• Total Gross Square
Feet: 850,000
• Mixed-use:
• 494,500 SF of luxury
condominiums
• 310,000 SF of office
space (24 floors)
• 10,500 SF of retail
• 35,000 SF of parking on
two levels below grade
• Amenities:
health club, pool
and parking
Opportunity:
• A parking garage adjacent to City Center Theater available for
acquisition.
• City Center Theater had 500,000 square feet of unused development rights.
• The renovation of City Center Theater would potentially produce
significant bonus development rights for the project.
Challenge :
• The proposed 72-story building drew strong opposition from
preservation groups concerned that the development would be
architecturally inconsistent with the neighboring 6-story theater,
an important NYC landmark.
• Existing zoning restricted the height of a new building to 400 feet,
severely impacting the economic feasibility of the proposed project.
• Development required the approval of the Landmarks Preservation
Commission.
• Property owner operated a garage within the building and would only
sell if the new building included a parking facility, which he
could operate and was at least as large as the existing one.
• The significant amount of existing street level noise was a marketing
issue for the proposed residential component of the development.
• The tempered glass, required by the zoning code for office buildings,
was only available in green, gray and black, which distorted the
views. Because of the office component, the tempered glass also
had to be used for the residential component, which severely limited
the spectacular views of the condominiums.
Solution :
• Through the government approval process, zoning variances were
granted,resulting in approvals for a 72-story mixed-use high-rise,
the tallest residential building in NYC at that time.
• Created incentive package for City Center to support the proposed
development that allowed them to expand their existing stage into
the new development (existing stage was too narrow). The expanded
stage was designated as a separate condominium, wholly-owned by
City Center.
• Procured additional air rights by making a contribution of $3 M to
New York City Opera and $3 M to NYC Ballet which produced an
additional 26 stories (297,300 square feet) and by spending $5.5 M to
renovate the City Center Theater which produced another 12 stories,
ultimately doubling the original building envelope.
• Located office space and residential amenities on floors 1 through 25.
Located the residential section on floors 26 through 72, maximizing
the value of unobstructed views and minimizing noise issues at
the street level.
• Developed the first mixed-use building in NYC with clear glass by
commissioning a glass manufacturer to create clear, tempered glass
that allowed occupants to enjoy the great views.
• Created incentive package for the garage owner which included the
construction of a larger garage for his company to manage in
the new building.
Brooklyn Heights, NY
Year Completed: 1998
The Facts:
• Cost: $54 M
• 33 stories, 192 units
• Total Gross Square
Feet: 212,000
• Mixed-use:
•190,000 SF of luxury
rental apartments
•10,000 SF of retail
•12,000 SF of parking
below grade
• Amenities:
fitness center,
outdoor roof deck,
lounge
Opportunity:
• A two-story retail property located on the main shopping street
in Brooklyn Heights.
• Property located on the only block in the neighborhood excluded
from Landmarks Historic District designation, passed in 1965.
• Lack of new residential development in the area due to challenging
zoning restrictions and vocal community board opposition.
Challenge :
• Existing development rights from the parcel were not large enough to
create the critical mass and the views that would set the building
apart from existing market inventory.
• Property development required relocating a group of retail tenants
led by Off Track Betting, a quasi-public entity that occupied much
of the ground floor of the building. Tenants would not consider
relocation unless it could be accomplished without interrupting
their business.
• There was opposition from community groups because the proposed
33-story building was in sharp contrast to the existing low
scale development.
• A subway tunnel was located just a few feet from the proposed
foundation, posing significant construction challenges and
requiring government agency design and engineering approvals in
order to proceed with development.
Solution :
• Successfully relocated Off Track Betting and the other retail tenants.
• Procured air rights from 8 adjoining buildings resulting in an
additional 27 floors and 360 degree unobstructed views of Manhattan,
Queens, Staten Island and New Jersey.
• Development qualified for outer-borough 20-year tax exemption from
increases due to property improvements.
• Managed community opposition by meeting with neighborhood
associations and community board members throughout the
development process.
• Rather than traditional excavation and foundation construction, a
slurry wall foundation process was used. The system allowed the
tunnel to remain “pressurized” and intact during excavation and
foundation work.
300 East 85th Street, NY
Year Completed: 1986
The Facts :
• Cost: $60 M
• 36 stories, 200 units
• Total Gross Square
Feet: 228,000
• Mixed-use:
• 215,000 SF of luxury
“Cond-Op” apartments
• 5,000 SF of retail
• 8,000 SF of parking
below grade
• Amenities:
Plaza at building
entrance, health club,
pool, and garage
Opportunity:
• Distressed property in a very good location which became available
for sale after a failed assemblage.
Challenge :
• Market research indicated that the size of the down payment was an
issue for condominium buyers in that area.
Solution:
• Separated the retail and residential portions of the property.
• Maintained ownership of the retail condominium.
• Utilized a “Cond-Op” legal structure that created two separate
condominiums and allowed the developer to structure two separate
financing packages. The residential condominium was converted
into a cooperative by placing a first mortgage on the building.
The resulting “Cond-Op” had the financial advantage of a
Co-operative structure but functioned operationally in the same way
as a condominium. This structure enabled the purchaser to be able
to deduct his mortgage interest payment and reduce the down
payment by 25%.
188 East 64th Street, NY
Year Completed: 1985
The Facts :
• Cost: $80 M
• 42 stories, 205 units
• Total Gross Square
Feet: 257,000
• Mixed-use:
• 215,000 SF of luxury
condominiums
• 25,000 SF of retail space
• 17,000 SF of parking
• Amenities:
garden courtyard
Opportunity :
• Availability of entire block front in a very desirable neighborhood
on the Upper East Side of Manhattan.
Challenge :
• Property encumbered by half-vacant tenement buildings.
• To proceed with the development, 62 existing tenants had to be
relocated and the existing building vacated.
• The economic feasibility depended on the ability to identify
additional sources of income beyond the residential sales.
Solution :
• Successfully vacated the buildings within four months of the acquisition
through negotiated buyouts and relocations of existing tenants.
• Created additional revenue streams by locating a major food retailer
below grade and negotiating a long-term lease with a bank for the
second floor retail space. Both original tenants are still there today.
• Condominiums sold out at record prices.
400 East 70th Street, NY
Year Completed: 1984
The Facts:
• Cost: $40 M
• 40 stories, 210 units
• Total Gross Square
Feet: 216,000
• Mixed-use:
• 197,000 SF of luxury
condominiums
• 8,000 SF of retail space
• 11,000 SF of parking
below grade
• Amenities:
roof-top lounge,
parking garage
Opportunity:
• Availability of a 20,000 square foot site on First Avenue and 70th street
resulting from an incomplete assemblage and a failed partnership.
Challenge :
• The existing owners’ significant partnership issues added to the
complexity of the negotiations.
• An urban plaza bonus was available if the existing tenement buildings
were demolished on the south side of the site. These buildings were
occupied by rent controlled tenants who would be difficult to vacate,
making the ability to develop the south plaza highly unlikely.
• In-depth knowledge of the market was needed in order to develop a
plan that would maximize the potential of the site.
• Traditional residential construction aligned bathrooms and kitchens
vertically throughout the building. A creative approach to the design
of the building was required to obtain premium pricing for the creative
layouts of the individual units and the uniqueness of the unit mix.
Solution :
• Acquired unused air rights from the three adjacent tenement buildings
to increase the buildable square footage.
• Utilized the government process to gain approval for an alternative
plan to build the City’s only north facing urban plaza. This approach
enabled the existing tenants to remain in their homes, at the same
time creating a new urban plaza for the neighborhood and scale to
the new development.
• Pioneered the use of consumer-based marketing techniques to
determine the appropriate unit mix, amenities package, and the
kitchens and bathrooms designs preferred by the Upper East Side
condominium buyer. The research also indicated that a significant
market existed for a more upscale product than historically had
been offered in that neighborhood.
• Results of the research were translated into a development that had
a larger number of smaller units for price-conscious buyers on the
lower floors and a smaller number of larger units for affluent buyers
on the higher floors.
• Critical elements of the development approach included:
• Locating studios and one bedroom units on floors 1- 19
• Locating two and three-bedroom units on floors 20 – 36
• Designing six floors of “Penthouse” units which commanded
premium pricing due to their location in the building, the
unique design, numerous balconies, and luxury amenities
• Constructing the lobby out of sequence, prior to the completion of
the rest of building, and therefore, gave the pre-construction
purchaser an actual sample of the quality of the product being
developed. This marketing technique had not been previously used
in New York City
• Six model units were constructed on the 20th floor showcasing the
views, luxury finishes and unit options
• The development was in contrast to the traditional approach that
merely replicated what had previously been built in the area. The
previously untested marketing approach, non-traditional layout of
the building and distinct unit mix accelerated sales and produced
premium prices, which, in turn, offset the higher construction costs
dictated by the development plan and building design
Ian Bruce Eichner, a seasoned developer of urban mixed-use properties, has a proven track record in real estate spanning more than three decades. His vast portfolio of projects in New York, Miami and Las Vegas include City Spire, One Broadway Place, The Manhattan Club, The Royale and Montague Street in Brooklyn Heights. Outside of New York he has developed the Continuum, a 2-tower gated condominium community in South Beach, and the Cosmopolitan, a 3,000 room resort and casino on the Las Vegas strip.
Mr. Eichner’s acute business sense has produced a series of visionary real estate developments that have been characterized by a creative mix of distinctive purpose-built properties. Each of these properties illustrates his extensive real estate expertise and ability to take situations which others may find unachievable and off-putting, and design and execute solutions which realize value for the developer. Mr. Eichner’s notable development achievements that were the first in their class include:
1. First high-rise built in Brooklyn since landmarks height legislation was
passed in 1965 (Montague Street, 1998)
2. First urban timeshare in New York, with a new concept of being able
to book stays one day at a time (The Manhattan Club, 1996)
3. First and only beachfront gated community in South Beach
(The Continuum, 2003-2008)
4. First development on the Las Vegas strip to employ an urban
development model, maximizing a small (8.5 acre) site to its full
square footage potential (6 ½ million square feet).
Mr. Eichner’s career in real estate follows almost a decade in the criminal justice system, including terms as an assistant District Attorney and program development chief of a gubernational agency during Nelson Rockefeller’s tenure.
"Our approach takes into consideration all aspects of each property. The development plan is always designed with a profound understanding of the marketplace in which the property will be developed, sold or leased."
TCC’s team of real estate professionals has conceived and implemented unique approaches to different types of development opportunities in select markets. The company’s overall approach takes into consideration all aspects of each property. The development plan is always designed with a profound understanding of the marketplace in which the property will be developed, sold or leased.
Under Mr. Eichner’s guidance, TCC has become skilled at establishing realistic and achievable development and operating budgets as well as determining price points for both sale, lease or rental that are realistic, achievable and profitable to ownership. A world-class network of specialists in construction, engineering, design and marketing complements TCC’s in-house capabilities. Working with these practitioners, the TCC team makes sure that each development achieves the highest performing results. In-house involvement in all phases of development ensures that projects are carefully selected, planned and executed, that costs are controlled and the quality of the product is delivered.
With over thirty years of experience overseeing more than $2 billion in development projects, Heinrich Von Hanau brings the powerful combination of capital market knowledge and real estate development background to the Continuum Company. Since 1998, Von Hanau has served as Chief Development Officer for the Continuum Company, providing expert oversight of the entire development process. Von Hanau is especially adept at securing financing and successfully guiding the growth and sales operations of large-scale, mixed-use residential projects. Under his guidance, Von Hanau and the Continuum sales team achieved record breaking sales in terms of sales volume and price per square foot for the North and South Towers of the Continuum on South Beach.
Seth Goldman joined the Continuum Company LLC in 2004 as Development Director. With over 10 years of experience completing over $200 million in hospitality, residential condominium, student housing, commercial retail and parking garage development projects, Mr. Goldman is valued for his wide range of expertise and proven track record in the field. Over the course of his career, Mr. Goldman has been involved in all aspects of the development process including analysis, acquisition, planning, approval, implementation, delivery, and management.
Since joining the Continuum Company, Goldman has completed a renovation conversion of The Manhattan Club, New York City’s first timeshare property, and development of the Continuum II on South Beach, a 37-story residential condominium mixed-use building. Goldman holds a Masters Degree in Real Estate Finance from New York University and a Bachelor's of Arts Degree from Ithaca College.
Leslie is a seasoned real estate professional specializing in design and marketing. She has served as both President of The Manhattan Club and Chief Creative Officer For The Cosmopolitan Resort in Las Vegas. With a professional career focused on real estate product design and development as well as sales and marketing, Mrs. Eichner is a critical part of the team that shapes each TCC development.
As President of The Manhattan Club, Mrs. Eichner was responsible for the conceptualization, design and development of The Manhattan Club, New York City's first urban timeshare, and to date, the largest urban timeshare development in the world. Mrs. Eichner also served as Chief Creative Officer for The Cosmopolitan Resort and Casino in Las Vegas, Nevada. In this capacity, she oversaw the design/development of the 6.5 million square foot resort, including architecture and interior design of hotel rooms, condo-hotel suites, casino suites, casino, retail atrium, meeting rooms, beach club, night club, pool decks spa, theater, restaurant spaces, signage, and all other related spaces. In addition, she was responsible for the conceptualization and development of the overall branding strategy and positioning of the property and was instrumental in the successful marketing of the condo-hotel product.
Mrs. Eichner’s career has spanned three decades with both corporate and entrepreneurial experiences. Prior to her work in real estate, she headed a consulting practice which specialized in creative problem solving and the design of strategic sales and marketing initiatives for financial institutions and small business owners. Her 30-year career also includes 17 years as an executive at a major financial institution.
Lager joined the Continuum Company LLC in November 1994 as Chief Operating Officer. Mr. Lager’s extensive experience in the operational arm of real estate development makes him critical to the Continuum team. Over the past 15 years with TCC, Mr. Lager grew the Park Central Hotel, a 935-key hotel in midtown Manhattan, from a net operating income of $1.9 million in 1995 to $18.5 million. He was also instrumental to the operations/development of The Manhattan Club, a 286-suite interval ownership (timeshare) property within the same structure of the hotel, generating more than $325 million in net timeshare sales from a start-up in June 1996 through December 2008. Mr. Lager holds a J.D. degree with honors from The National Law 15 Center, George Washington University and a Bachelor’s Degree from the University of Maryland.
Since 1996, Scott has been involved with and directed the development of over $450 million worth of residential rental, condominium and hospitality projects in New York and Miami. His brief departure from the Continuum Company from 2006 to 2009 was highlighted by his development of 100 West 18th Street, Chelsea’s most successful boutique residential development.
In 2006 Scott collaborated with one of New York’s rising young architect talents, Garrett Gourley to develop 100 West 18th Street. The project contains 43 luxury homes and over 30,000 square feet of retail on three levels. It is 100% occupied and commanded an average sales price of $1,400 per foot. The interior spaces and spectacular finishes, including lava stone showers and hand-cut limestone bathrooms, brought true luxury to Chelsea. His approach to creating organic urban living spaces vaulted 100 West 18th Street into the pages of lifestyle magazines and television including NBC, CNN and Bravo TV.
Mr. Aaron has returned as a Director of Acquisitions at The Continuum Company, the firm that launched his career in the mid 90’s. He is responsible for the Firm’s strategic oversight of acquisitions and development.
In 2009, Scott was named as one of New York’s “Developers on the Rise” by Globe Street Magazine.
Mr. Aaron resides in Westchester, NY with his wife, Shira and their two daughters, Drew and Remi.