Chetrit Group

Chetrit Group

Chetrit Group was founded in 1985 by Joseph Chetrit, a Moroccan-born immigrant who began acquiring small residential buildings in Brooklyn and Queens before scaling into large-scale commercial real estate. The firm operates as a family office structure, with Joseph's sons Meyer and David Chetrit taking on principal roles; wealth originates from decades of real estate development and investment in the New York metropolitan area. The group's strategy focuses on value-add and opportunistic acquisitions across office, retail, hotel, and residential assets. Notable holdings have included the 230 Fifth Avenue office building and the Waldorf Astoria hotel — sold in 2014 as part of a consortium deal — and the massive redevelopment of the former Jehovah's Witnesses headquarters in Brooklyn into luxury condominiums. The firm invests through direct ownership, joint ventures with institutional partners, and club deals. Chetrit Group maintains concentration in the U.S., primarily New York and Florida, with additional investments in Canada and Europe. The firm does not disclose total AUM or a headcount figure; it is estimated by public records and deal filings to control a multi-billion-dollar portfolio. In September 2023, the firm sold a portfolio of 24 NYC retail properties for approximately $300M to a consortium including RXR Realty. Chetrit Group's structural differentiator lies in its tightly held family governance combined with a legacy of sourcing distressed or complex assets — often buying when institutional capital retreats. That model creates a long-duration hold approach immune to quarterly performance pressures, allowing the firm to execute redevelopments over multi-year timelines.