31 Mar Announcing the purchase of 147 East 116th St, East Harlem

Posted at 15:49h 147 E 116, Properties by JoJo Chehebar

Gideon Asset Management, LLC is pleased to announce an all cash purchase  of a mixed-use property in Manhattan. Gideon joined forces with AMS Acquisitions,LLC, also of Manhattan, in the purchase of 147 East 116th St, located in East Harlem.

The property is located directly adjacent to mass transportation; (both Subway and Bus) and enjoys a tremendous amount of foot traffic.

The joint venture plans to gut renovate the entire property, replace the current retail tenant, and bring the building up to market rents over the next 8 months.

JoJo Chehebar, founder and partner of Gideon said; “We are pleased with our latest acquisition and love the direction East Harlem is heading. We will continue to invest in this area since we see the long term value of the E 116th St. corridor.”

Isaac Klein, also a founder and partner in Gideon, added; “Although the majority of our acquisitions are in the $10M-$75M range, we really liked the ability to purchase a property with upside, in an all cash transaction, with a very limited amount of similar product currently available in the marketplace. We are looking forward to rolling up our sleeves together with the partners of AMS Acquisitions, LLC; Mikey Mitnick and Avi Abadie, and turn this into a valuable long term investment property.”

AMS Acquisitions, LLC specializes in turn-around properties throughout the Boroughs, as well as stabilized office and retail properties across the Country.

Gideon Asset Management, LLC was formed in mid 2013. The fund was formed by Gabriel Shehebar, Isaac Klein, and Josef Chehebar. Gideon’s focus is the acquisition and management of generational holdings with risk- adjusted returns. Gideon invests in the following product types: Retail, Residential, Student Housing and Healthcare properties.

Gideon manages high-net worth family money as well as Institutional Capital. The minimum relationship with Gideon is $1,000,000.00

The fund currently owns and operates property in: Miami Beach, FL, New York City, Downtown Hartford, CT, and Minneapolis. Gideon hopes to acquire an additional $750M in real estate by 2020.

For More information about Gideon Asset Management, please visit www.GideonAM.com or 212.349.0500

For more information about AMS Acquisitions, LLC please visit