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Two Industry Vets Form New Firm

NEW YORK CITY—The new real estate investment and advisory firm already has agreed to purchase a leasehold interest at 31 Penn Plaza.

By Rayna Katz | Updated on August 04, 2015

NEW YORK CITY—Two industry veterans have launched a real estate investment and advisory firm here.Both Gary M. Tischler and Richard A.C. Coles, who have worked together for nearly two decades, will jointly serve as managing principals of Vanbarton Group.

Recent transactions already completed and owned by Vanbarton include the conversion of an office building in the Financial District that spans more than 500,000 square feet into a residential rental property with 565 units and 10,000 square feet of street level retail, the inking of a contract to purchase the leasehold at 31 Penn Plaza and, in Miami, a $46 million mezzanine loan to JDS Development Group to finance the pre-construction activities of a 250,000-square-foot 125 unit condominium.

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