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Developing hands-on.


Patience and creativity. These have defined Izak Senbahar's real estate career over the past 16 years and helped spur his emergence as one of New York's top independent residential developers. His latest project, Grand Beekman, a new 32-story luxury condominium residence at 400 E. 51st St., is certainly a testament to these crucial virtues. It took more than a decade to assemble the complex site and now Senbahar is breaking ground. The elegant tower will be the first new major residential development within the exclusive Beekman Place enclave in more than 25 years.

With his distinctive hands-on style, Senbahar is immersing himself in every detail of the project. Working with Costas Kondylis Costas Kondylis and Partners, LLP, is an architectural firm headquartered in Manhattan. Their influence on New York City’s skyline has been commented on by New York Living Magazine , New York's preeminent luxury high-rise residential architect, Senbahar conceived a classic exterior structure for Grand Beekman to capture the grace and grandeur of its surroundings. The building's limestone and cast stone facade takes architectural cues from River House, a celebrated 1930s residential building at 52nd Street and the river, while its entranceway evokes a more intimate scale resembling the mansions on Fifth and Park Avenues.

For the interior design, Senbahar spent more than a year in search of the world's finest World's Finest may refer to:
  • A number of DC Comics- related media, typically involving the teaming up of iconic superheroes Superman and Batman.
  • World's Finest Comics
 materials and finishes to add distinction to the classic structure. The result: Grand Beekman's 89 graciously proportioned residences will feature Bulgarian white limestone, German Dura marble and mahogany flooring, among numerous other international treasures.

Senbahar was born in Istanbul in 1959 and moved to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  in 1977 to attend Catholic University, in Washington, D.C. After graduating with a bachelor's degree in mechanical engineering, he moved to New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
, where he earned a master's degree master's degree
n.
An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree.

Noun 1.
 in finance from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the  in 1983. Senbahar took a position as a gold trader for the French financial firm Sucre Sucre, city (1992 pop. 131,769), S central Bolivia, constitutional capital of Bolivia and capital of Chuquisaca dept. Since 1898, La Paz has been the administrative capital of Bolivia.  et Denree and soon became the head trader of the metals desk. But his stay on Wall Street would be a short one.

While contemplating accepting an offer from Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.  & Co., Kiska - the major Turkish construction company -- approached Senbahar about helping them to enter the United States market and build residential high-rises in Manhattan. Excited about the unexpected opportunity, he rolled-up his sleeves and began what would be his first of many patient endeavors in New York's real estate thicket. Two years later, construction began at 353 Central Park West to create 17 extraordinary new floor-through luxury units. The development, at a then untested location, quickly sold out and commanded premium prices.

Not one to shy away from Verb 1. shy away from - avoid having to deal with some unpleasant task; "I shy away from this task"
avoid - stay clear from; keep away from; keep out of the way of someone or something; "Her former friends now avoid her"
 challenges, the group's next project involved developing a 108-unit condominium at the site of a former gas station at 94th Street and Second Avenue. Once complete, Senbahar then partnered with developers Nourullah and Steven Elghanayan and purchased a site on Third Avenue between 22nd and 23rd Streets to create The Elektra -- designed to be a 33-story condominium. Close to the project's completion in 1992, the entire building, containing 166 units, was sold to Beth Israel Hospital See:
  • Beth Israel Deaconess Medical Center in Boston
  • Beth Israel Medical Center in Manhattan
 for employee housing.

In addition to developing new buildings, throughout the years Senbahar has also accumulated blocks of condominium units in buildings such as 116 Central Park South and 120 E. 90th St.

With the exception of a SoHo-style loft condominium -- with the trendy Cities restaurant at street-level -- that he developed in Washington D.C., all of Senhabar's projects have been in Manhattan. His focus is local. "The small island at the center of the world is where I want to be." But his reach for quality touches every corner of the world.

In addition to Grand Beekman, which is expected to open in the fall of 2002, Senbahar is on the drawing boards for several additional projects in Manhattan.
COPYRIGHT 2001 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:residential developer Izak Senbahar
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U2NY
Date:Aug 1, 2001
Words:608
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