United Equity Investments 610 Coney Island Avenue
Brooklyn NY 11218
718-633-0009 / UEINVEST.COM
United Equity Investments, LLC (UEI) is a privately held New York based real estate investment firm, founded by Michael Wahba. Uel’s primary goal is to maximize return on investment via strategic acquisitions, development, management of commercial, residential and mixed-use properties.
The strength of UEl lies in its ability to identify and acquire outstanding properties before they reach the general real estate market. Being able to assess these deals and close on them quickly is what differentiates UEl from the rest
UEl along with its exclusive institutional and private investors has been involved in over a billion dollars of real estate transactions. UEI focuses on acquiring both stabilized properties with established cash flow as well as properties for development with greater potential for upside value. The company applies its expertise to reposition its assets through physical improvements and aggressive marketing studies as well as through partnering up with the right developers that will help maximize the investments potential.
The above strategies have been successfully employed by Michael Wahba and his partners over the last 20 years. As an example, Starret Lehigh, a 2.3 million square foot building located on Manhattan’s West Side, When acquired in 1998 for 150MM, The building was 20% occupied with rents averaging $4 per square foot. The building was eventually sold in the summer of 2011 to RXR for 920 MM. The reason they were able to achieve such a price was because of the buildings beautifully appointed, land marked façade, and diversified tenant roster that included Hugo Boss, LVMH, Club Monaco Martha Stewart, Tommy Hilfiger, the department of Homeland security, and the FBI. The building achieved 90% occupancy with rents reaching as high as $40 per square foot. Other Notable properties Wahba has been involved with include 461 west 34th street, 1145 Broadway, 110 east 42nd Street, 132 west 31st Street a.k.a Pencom, The Olivia on 34th Street, 576 Third Avenue In Brooklyn. 303 West 10th, 656 Amsterdam Avenue, 1185 Avenue of the Americas, 237 east 88th street and 88 chamber street, just to name a few.
UEI has developed close and important ties with the largest developers, operators, owners and brokers in New York City which have proven to be important strategic sources for early detection of primary properties ripe for acquisitions. These relationships, combined with the above strategies and the firm’s agility of operation, give them a completive edge and a greater pulse on the market.