New York City Office Investment Platform
We buy Manhattan office buildings at a corrected basis, with our own capital in every deal.
Vertex is an independent acquisition and investment platform, founded by Adam Arnow and Patrick Pavone and backed by the Arnow and Rosenblatt families. Olmstead Properties is a partner in Vertex and the exclusive operator of every building in New York City that Vertex and Olmstead acquire.
Since November 2025 Vertex has closed four transactions totaling approximately $460 million in capitalization: 373 & 381 Park Avenue South, 61 Crosby Street, the recapitalization of 114 Crosby Street, and 19 West 44th Street. Each is capitalized on its own, with sponsorship equity of at least 10 percent and typically well over 20 percent.
The Platform
Capital that can close. An operator that can execute.
Vertex is an independent platform, founded by Adam Arnow and Patrick Pavone and backed by the Arnow and Rosenblatt families. We acquire Manhattan office at a discount to replacement cost, put our own capital into every deal, and operate what we buy through Olmstead Properties — a partner in Vertex and the exclusive operator of every New York building we acquire together.
Sellers and brokers deal with one decision table. We underwrite in-house, move quickly, and do not retrade.
Our own money first
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 has owned and run Manhattan office and loft buildings since 1930 and invests alongside Vertex in every New York building. A full-time operating team is on each building from day one.
Basis, then exit
Buy below replacement cost, differentiate the building, stabilize the rent roll, then refinance or sell. 19 West 44th Street was acquired at roughly a 45 percent discount to prior basis. Cutting rent is the one move every owner can make; we make the building the reason a tenant signs.
No fund, and no fund life
Each acquisition is capitalized on its own, with institutional partners or private families. We buy outright, recapitalize existing ownership, or joint-venture with owners who want to stay in — all cash where speed wins the deal.
Olmstead Properties
Partner in Vertex and exclusive operator of every building Vertex and Olmstead acquire in New York City. One of the city's longest-standing real estate firms, owned and run by the Rosenblatt family since 1930.
Our own money is in every deal, and so is our operator's.
What We Look For
Manhattan office, $50 to $350 million, in any structure.
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. Whatever the format, the sponsorship invests alongside its partners in every acquisition.
- Deal size
- $50M – $350M
- Asset type
- Office, value-add
- Geography
- Manhattan, sole focus
- Sponsor equity
- 10% min, 20%+ typical
- Structure
- Acquisition, recap or JV
Portfolio
Five buildings. Four transactions in eight months.
After nine years out of the Manhattan market, Vertex returned in November 2025 and closed four transactions by June 2026 — in cash, through a recapitalization, and off-market. Olmstead Properties operates and leases every one of them.
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.
In the Press · 19 West 44th Street
Detailed underwriting and transaction materials are available to prospective partners on request.
The Families
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 Manhattan office and loft buildings for four generations. Their capital is in every deal, and their operating company, Olmstead Properties, runs every building.
The Arnow Family
Generations of building in New York.
In New York real estate since the 1930s, the Arnow family has developed more than 10 million square feet of office and residential property, principally in Manhattan, including the Grace Building, 1411 Broadway, 711 Third Avenue, 437 Madison Avenue, 7 Hanover Square and 250 Mercer Street. Most of the portfolio was sold to Trizec in 1997; the family continues to own legacy assets and invests through Vertex.
The Rosenblatt Family
Generations of ownership in New York.
The Rosenblatt family has owned and run Olmstead Properties since its founding in 1930, 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.
The Principals
Adam A. Arnow
Principal & Co-Founder. Co-founded Vertex and leads acquisitions. Since 2005 he has managed more than $1.5 billion of transactions for the Arnow family and other families, with institutional partners including J.P. Morgan and Oaktree. He ran acquisitions at Olmstead for seven years before investing directly for the family across the Northeast and Ireland from 2012.
Patrick A. Pavone
Principal & Co-Founder. Co-founded Vertex and works from sourcing and structuring through asset management. An attorney by training and a former Bank of America Merrill Lynch asset manager, he joined the Arnow family and Olmstead in 2014. With Adam he oversaw more than 700,000 square feet of Dublin office development, sold for over $600 million, and has acquired more than 1.3 million square feet of Manhattan office.
Samuel W. Rosenblatt
Partner; President, Olmstead Properties. Fourth generation of the Rosenblatt family at Olmstead, which owns and manages about 4.5 million square feet of New York City commercial property. Previously eight years as Vice President at Newmark, overseeing 16 properties of about 6 million square feet, and two years at Swig, Weiler & Arnow. Active in REBNY; chairs the Real Estate Division of UJA.
Before Vertex
From 2016 to 2025 the principals judged Manhattan pricing ahead of the fundamentals and invested elsewhere: eight New York office and retail buildings; five Dublin office developments leased to tenants including Airbnb, DocuSign and Grant Thornton, plus a countrywide Irish homebuilder; more than 1,000 multifamily units in Pittsburgh and Boston; and 350,000 square feet of industrial in Rockford, Illinois, now operated by Olmstead. New York City is again the sole focus.
Contact
If you have a Manhattan office building, we would like to see it.
Bring us a deal
We look at everything in Manhattan between $50 and $350 million. We underwrite in-house, decide quickly, and do not retrade. Off-market introductions are welcome and handled confidentially. A straight acquisition, a recapitalization of existing ownership, or a joint venture with owners who want to stay in — all are conversations 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 invests alongside its partners in every acquisition — at least 10 percent of the capitalization, and typically well in excess of 20 percent.
The principals 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.