New York City Office Investment Platform
We buy Manhattan office buildings at a corrected basis, with our own capital in every deal.
Vertex Properties owns five office buildings in Manhattan and Long Island City. Four transactions have closed since November 2025, representing approximately $460 million of total capitalization. The sponsorship group invests at least 10 percent of every capitalization and typically well in excess of 20 percent. Olmstead Properties, our exclusive operator, invests its own capital alongside ours in every New York building we buy.
Vertex is not a fund. We capitalize each acquisition on its own, with institutional partners and with private families, which lets us set hold period and structure around the asset and the partner rather than around a fund life.
The Platform in Six Points
What a partner is underwriting.
Vertex was built to acquire Manhattan office at a discount to replacement cost and to operate it properly from the day of closing. The sponsorship group invests its own equity in every transaction, alongside an operator that has run New York buildings for four generations. The record set out on this page is the evidence.
Alignment
The sponsorship invests at least 10 percent of each capitalization, and typically well in excess of 20 percent. The people making the decisions have significant money at risk beside their partners'.
An operating engine, not a hired manager
Olmstead Properties is our exclusive operator and a partner that invests in every New York building we buy. Separately, and on its own account, Olmstead owns, manages and leases a 4.5 million square foot Manhattan portfolio. Buyers of this size normally have to hire that capability.
Basis
We acquire at a discount to replacement cost and underwrite the exit from there. 19 West 44th Street was purchased at roughly a 45 percent discount to the seller's prior basis. The discount going in is what makes the rest of the business plan work.
Discipline on timing
Our previous New York acquisition was in 2016. Stepping back for nine years was deliberate — we thought the market had become too expensive. Since re-entering in November 2025 we have closed four transactions in eight months.
No fund, and no fund life
Vertex capitalizes each acquisition on its own. There is no vintage year and no clock forcing a sale, so the hold period is set by the business plan and by the partner in the deal.
Flexibility on structure
A straight acquisition, a recapitalization of existing ownership, or a joint venture — all cash where speed wins the deal. The structure follows the asset and the counterparty, which is frequently the reason we are the buyer who gets there.
Capital & Structure
We are not a fund, and we are not tied to a fund life.
Vertex capitalizes each acquisition on its own. We have partnered with large institutions, and we also capitalize deals with private families. Because there is no vintage year and no fund clock, the hold period is set by the asset and by the partner in the transaction rather than by a fund's remaining life.
That flexibility works in both directions. It allows us to structure a partnership in a way an investor is genuinely comfortable with, and it allows us to compete for buildings that a rigid mandate would rule out. We regard it as a competitive advantage in winning deals as much as in raising capital.
A defined hold and a defined exit
With institutional partners we underwrite shorter-duration business plans to a defined hold and a defined exit, and we build the business plan around that horizon from the day we close.
Long-term hold, or a sale when it makes sense
With family capital we can own a building for the long term and compound it, or sell when the market rewards a sale. Neither decision is forced by a fund's remaining life.
Acquisition, recapitalization or joint venture
We buy outright, we recapitalize existing ownership, and we joint-venture with owners who want to stay in. Of the four transactions closed since November 2025, one was a recapitalization and one was an all-cash purchase.
The same in every structure
Whatever the format, the sponsorship group invests at least 10 percent of the capitalization and typically well in excess of 20 percent. That does not change with the partner.
Detailed underwriting, transaction-level performance and structure documentation are provided to prospective partners on request, and are not published here.
The Platform
Capital that can close. An operator that can execute.
Vertex Properties is a New York City–based investment platform actively expanding its office portfolio, targeting assets with strong fundamentals and clear repositioning upside. Deal size is $50 to $350 million, Manhattan, value-add office.
Vertex is backed by two New York real estate families, the Arnows and the Rosenblatts. The Arnow family has developed more than 10 million square feet of office and residential property since the 1930s. The Rosenblatt family has owned and run Olmstead Properties since its founding in 1930, now in its fourth generation.
We underwrite in-house and decide quickly. Sellers and brokers deal with one decision-maker rather than a committee, we do not retrade, and we put a full-time operating team behind every building on day one.
Exclusive Operator & Partner
Olmstead Properties
Our exclusive operator, and a partner that invests alongside Vertex in every building we buy in New York City. One of New York City's longest-standing real estate firms, in business since 1930.
Our own money is in every deal, and so is our operator's.
Current Portfolio
Five buildings. Four transactions in eight months.
A demonstrated ability to perform and close — in cash, through a recapitalization, and off-market.
373 & 381 Park Avenue South
- Combined size
- 356,740 SF
- 381 Park Avenue South
- 244,546 SF · 17 storeys · built 1910
- 373 Park Avenue South
- 112,194 SF · 12 storeys · built 1911
- Floor plates
- 14,531–14,710 RSF (381) · 9,029–9,171 RSF (373)
- Purchase price
- $104,000,000
- Seller
- ATCO Properties & Management
- Leased since closing
- 95,000 SF
- Leasing agent
- Olmstead Properties, Inc.
Two boutique prewar buildings delivering immediate scale on Park Avenue South — 381 on the southeast corner of 27th Street with an ornate terracotta facade and light and air on all four sides; 373 between 26th and 27th with full-floor plates. Repositioning underway with COOKFOX Architects.
61 Crosby Street
- Size
- 32,400 SF
- Composition
- 24,300 SF office · 8,100 SF retail
- Storeys
- 5
- Floor plates
- 5,250–6,350 SF
- Built / redeveloped
- 1900 · 2018
- Purchase price
- $53,000,000, all cash
- Leasing agent
- Olmstead Properties, Inc.
A boutique SoHo loft building between Spring and Broome, in the SoHo–Cast Iron Historic District. The 2018 redevelopment restored the historic facade, added a penthouse with terrace, and upgraded all building systems and interiors.
114 Crosby Street
- Size
- 143,523 SF
- Structure
- Recapitalization
- Total deal size
- $121,000,000
- Status
- Fully leased
A full-block SoHo loft building with entrances on both Crosby Street and Broadway, recapitalized in March 2026 with a repositioned lobby, amenity floor and rooftop.
19 West 44th Street
- Size
- 302,000 SF
- Built
- 1916
- Purchase price
- $108,000,000
- Seller
- Savanna
- Certification
- LEED Gold
- Leasing agent
- Olmstead Properties, Inc.
A landmark-quality Midtown tower between Fifth and Sixth Avenues, purchased at a substantial discount to prior basis, with roughly 23,000 SF of new prebuilt suites.
43-01 22nd Street
- Size
- 215,000 SF
- Built
- 1925
- Acquired
- 2016
- Leasing agent
- GFP Real Estate
A full-block loft building at the centre of Long Island City's creative and office district, minutes from Midtown on seven subway lines.
The Vertex Strategy
The office is not dead. The status quo is dead.
Cutting rent to fill space is the one move every owner in this market can make, which is exactly why it creates no advantage. We take a deliberate approach tailored to each individual asset, designed to make the building itself the reason a tenant signs, and to position it to outperform its submarket. Every element below is underwritten at acquisition, not added later.
Basis, then exit
Acquire at a discount to replacement cost, differentiate the asset, stabilise the rent roll, then refinance or sell into a recovered market. The discount going in is what makes everything after it work.
Alignment — our own money first
The sponsorship puts significant equity into every deal — at least 10 percent of the capitalization, typically well over 20 percent. Our partners know the people making the decisions have real money at risk beside theirs.
Timing — nine years on the sidelines
Our previous New York acquisition was in 2016. Stepping back was deliberate: we thought the market had become too expensive. We spent those years backing multifamily developers in Boston and Pittsburgh and building our Irish projects. We are now solely focused on New York.
Amenities that earn their cost
Childcare, food and beverage, fitness and shared meeting space, underwritten to a return like any other capital item and specified around what the tenants in that particular building will actually use.
Diversified tenancy
Artists, non-profits and early-stage companies alongside established tenants. A deliberately mixed rent roll fills space faster, keeps downtime short, and reduces concentration risk in any single credit or sector.
Sustainability, early
We upgrade ahead of climate legislation rather than behind it. Buildings that already meet what is coming avoid the penalties and the capital shock that catch owners who wait.
- Deal size
- $50M – $350M
- Asset type
- Office, value-add
- Geography
- Manhattan, sole focus
- Sponsor equity
- 10% min, 20%+ typical
- Structure
- Acquisition, recap or JV
In the Press
19 West 44th Street
Coverage of the platform's most recent acquisition — a 302,000 square foot, LEED Gold building between Fifth and Sixth Avenues, purchased from Savanna for $108 million in June 2026.
"We are continuing to execute on the strategy we laid out with the launch of Vertex — targeting well-located Manhattan office buildings where active ownership and thoughtful leasing can unlock value."
Patrick A. Pavone · Co-Founder, Vertex
Track Record
Two New York families behind one platform.
Vertex is backed by the Arnow and Rosenblatt families — one that built a substantial share of the modern Manhattan skyline, one that has owned and operated New York buildings for four generations. A full account of the principals and of their historical transactions is set out on the pages linked below.
The Arnow Family
Generations of building in New York.
Over multiple generations the Arnow family has developed more than 10 million square feet of office and residential property across the United States, with a primary focus on New York City. A significant portion of the family's holdings was sold in 1997; the family continues to own a portfolio of legacy assets, among them the Grace Building, 1411 Broadway, 711 Third Avenue, 437 Madison Avenue, 7 Hanover Square and 250 Mercer Street.
Principals' Historical TransactionsThe Rosenblatt Family
Generations of ownership in New York.
The Rosenblatt family has owned and run Olmstead Properties since its founding in 1930 and is now in its fourth generation under Samuel W. Rosenblatt, a partner in Vertex. Across those generations the family has owned, repositioned and operated some of Manhattan's best-known loft and office buildings, including 575 Eighth Avenue, 525 Seventh Avenue, 299 Broadway, 584 Broadway and 180 Varick Street.
Who We AreContact
Two conversations we are always open to.
Bring us a deal
If you have a Manhattan office building, we would like to see it. We look at everything in Manhattan between $50 and $350 million. We move quickly, we underwrite in-house, and we do not retrade. Off-market introductions are welcome and are treated in confidence.
We are very flexible on structure. Straight acquisitions, recapitalizations of existing ownership and joint ventures are all live for us, and because we are not a fund we are not working around a fund life or a rigid mandate. If an owner wants to stay in, that is a conversation we are happy to have.
Capital partners
Vertex works with institutional partners and with private families on an asset-by-asset basis. Institutional partnerships are underwritten to a defined hold and exit; family capital can hold for the long term or sell when the market rewards a sale. The sponsorship group invests alongside its partners in every acquisition — at least 10 percent of the capitalization, and typically well in excess of 20 percent.
The principals above are the right point of contact and are reachable directly. Detailed material on the platform, the portfolio and our underwriting is available to prospective partners on request.