Hotel Renovations

The acquisition of the former Regency Hotel in Binghamton, New York was renovated and reintroduced as Binghamton Riverwalk Hotel and Conference Center and finally, DoubleTree by Hilton.

If you find yourself in the Binghamton region, stop in and take a look around.

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Executive summary

Alfred Weissman Real Estate (“AWRE”), is an experienced and proven commercial real estate investment, asset management, and development team

AWRE acquires value-add investments that are typically too small for large investors and funds, and too big for small independent investors.

THE COMPANY
Founded by Alfred Weissman in 1982, Alfred Weissman Real Estate, Inc. (“AWRE”) is a commercial real estate investor, owner, and developer. Senior principals lead a successful team with extensive experience in development and operations of commercial real estate.

With its focus on quality development programs, AWRE has earned the trust and confidence of civic and business leaders through its professionalism, high corporate standards and personal commitment to projects. The firm is located in Rye, NY and employs a staff of 12 professionals, with expertise in real estate investment, management, and development.

Past projects have included all categories of commercial development including, retail, office, and industrial properties. The common thread for the firm’s accomplishments has been an ability to identify and capitalize on value oriented investments.

AWRE corporate structure is lean, enabling its executives to be intimately involved in all asset management and investment decisions.

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Investment philosophy

AWRE targets investments that have superb risk/reward characteristics but are still overlooked by the larger players and we believe, as a consequence, are among the most capital starved. We believe that real estate is a valued long term business and our goal is to create long term solid investments, without the pressure of meeting unrealistically high promised rates of return through speculation or overleveraging. The recent market collapse is a reminder that real estate investing requires a conservative long range approach.

INVESTMENT TARGETS
AWRE seeks attractive value-add investment opportunities in the Northeastern United States. Our target investment is between 50,000 - 500,000 square feet, a niche that limits competition from firms too large and too small. We are more inclined to look for odd lot purchases of debt or equity investments and surplus real estate than portfolio level acquisitions.

TRACK RECORD
The firm has demonstrated a propensity for buying good properties at opportunity pricing and actively asset managing them to maximize income. The result has been substantial returns over the firm’s long history.

Past accomplishments include the conversion of a two-story, Class A office building into a three-story building while the tenant was in possession, the conversion of the former Saks Fifth Avenue distribution center, the redevelopment of a vacant 133,000 square foot, Class A office building for the Dannon US Headquarters, and the redevelopment of the former Saks Fifth Avenue Department Store into a mixed-use property.