Real estate broker Greg Kraut, who helped found the local Avison Young office, is becoming a developer as he joins Rod Kritsberg’s K Property Group.
The duo will focus on value-added real estate investment and development projects in the city and focus on identifying off-market, value-added and select core-plus office and retail properties of $50 million and up.
“I want to infuse hospitality into the office and retail sectors and through strategic capital improvements, create a modern, full-service experience for tenants,” said Kraut.
“I always had a passion for ownership and spent a considerable amount of time surveying the top real estate firms to create this next-generation platform.”
Kritsberg is a former Midtown Equities executive who formed K Property in 2014. He now owns a stake in 211 East 43rd St. and expects to close on more deals this year.
“Rod is very under the radar,” said Kraut, who left Avison Young last week.
“We want to create a next-gen real estate company that marries Rod’s capital markets expertise and deep industry relationships with my institutional background in leasing and asset management to supersize his operations and help build it into a world-class operation,” said Kraut.
Stay tuned.
