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City Habitats is expanding office on Upper East Side.

Citi Habitats, Inc. has expanded and relocated its Upper East Side office from 353 East 78th Street to its new location at The Strathmore, 400 East 84 Street. According to Igal J. Feibush, principal and cofounder of Citi Habitats, the new office will employ more than double the number of real estate agents to serve its growing client base.

"Due to Citi Habitat's swelling popularity and the extremely active rental and sales markets, we literally outgrew our location and needed more space to handle our increased volume," said Feibush. "At this prominent new site, we will increase our services and listings base to better serve our expanding roster of clients."

The new office houses more than 45 rental and sales agents. The new location has also allowed Citi Habitats to expand its services, specifically in the flourishing sales division.

"Citi Habitats' Upper East Side office will continue to serve our core rental clients, while offering new services and a more prominent presence in the co-op and condo sales market," said Feibush. "With a modern, new age image and the most high-tech computer capabilities, the office easily serves more than 500 clients per week."

Citi Habitat's new Upper East Side office will be managed by Gordon Golub, who has more than six years of experience in residential real estate and has managed various offices for Citi Habitats for the last three-and-a-half years.

Citi Habitats, formed in 1994 by Feibush and Andrew Heiberger, has expanded from a single office with two brokers to a leading residential real estate firm with seven offices and more than 220 real estate agents and 50 employees. Offering a full array of rental and sales services, Citi Habitats has built a name for itself as the most reputable and professional residential brokerage firm in Manhattan. The firm offers the largest listing base in the City and specializes in residential services for middle to upper-income clients. Citi Habitats' headquarters are located at 30 East 33rd Street, with retail offices at 50 Madison Avenue, 206 East 38th Street, 400 East 84th Street, 340 West 57th Street, One Great Jones and 100 John Street.

Tom Hamm, president of Thomas M. Harem & Company, Inc., Stamford, CT-based real estate brokers specializing in hotels, announces the sale of the Hilton at Cherry Hill in Cherry Hill, NJ for approximately $29.1 million.

The Cherry Hill Hilton Hotel, located 2349 West Marlton Pike in Cherry Hill, NJ, consists of a 14-story hotel containing 413 guest rooms, nearly 40,000 square feet of meeting and banquet facilities, a restaurant and swimming pool on approximately 12 acres of land. The property includes an 8,000 square-foot free-standing pavilion which was recently built at a cost of approximately $2 million. The Pavilion is a much sought out venue for social catering functions and exhibits. The hotel serves southern New Jersey and Philadelphia.

The Hilton originally opened in 1975 as a Hyatt Hotel. The seller, a private New Jersey limited liability company, purchased the property after it had been closed by the previous owner. Following a top down renovation and complete refurbishment of the hotel, it reopened in April 1995 as the Hilton at Cherry Hill.

Thomas M. Hamm & Company, Inc. represented the seller. The institutional buyer was represented by The American & Overseas Property Company and CHK Realty Associates.

In May this year, the Hamm Company also sold the 301-room Meadowlands Hilton Hotel in Secaucus, NJ for $23.4 million.
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Sep 23, 1998
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