Sackman started their operations more than 50 years ago by focusing on the restoration of historic townhomes on Manhattan’s Upper West Side. Today, the business builds on this legacy by continuing to rehabilitate historic buildings and blending traditional “Old World” features into new construction properties that utilize the latest in green energy saving technologies. Sackman’s holdings include residential, commercial and hospitality properties, which are managed directly by Sackman. The Sackman portfolio has a gross asset value in excess of One Billion Dollars and includes over 2,000 residential units and a million square feet of commercial space in properties located in New York, New Jersey, Colorado, North Carolina, Texas, Virginia, the Dominican Republic and the Turks and Caicos Islands. Sackman and its related entities own and have constructed, financed, managed and leased all of these properties. Currently Sackman is developing over 3.4 million square feet of mixed use development in five separate real estate markets.
Sackman began diversifying its portfolio in the early 2000’s. First with direct investment into Jersey City, then Asbury Park, New Jersey, and more recently Texas and Virginia. Sackman’s development sites have been in growth areas where conventional financing alone would make it difficult to underwrite. To ensure their economic feasibility, Sackman has utilized several public incentive programs to finance their projects. These programs include Public/ Private Partnerships, New Markets Tax Credits (“NMTCs”), Historic Tax Credits (“HTCs”), Economic Redevelopment and Growth (ERG) Programs, Pilot Programs, New Jersey Local Development Financing Fund (“LDFF”) , and UEZ Financing. Sackman is currently developing 25 sites throughout New York, New Jersey, Virginia and Texas.
Contacter : Sackman Enterprises
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