X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

STAMFORD, CT-Seth G. Weinstein has re-entered the real estate development business in the greater New York area after a very short hiatus. The 58-year-old real estate veteran formed a new real estate development firm–Hannah Real Estate Investors LLC, which has offices in Stamford and Manhattan. Weinstein left the business for a short time in April when he sold his stake in Clearview Investment Management, a firm he had co-founded with Charles Mallory in 1995.

“I toyed with the idea of retiring and it lasted about two days,” Weinstein says. He adds that his mother and father are still working in their early 80s, so therefore he decided, “Fifty-eight is too young to retire.”

“Forming Hannah Real Estate Investors is the natural progression of my career,” he says. “I’m at the point in my professional and personal life where I can choose to dedicate my time and financial resources to projects that I find interesting. My new firm will afford me the agility and freedom I have always found to be critical in turning opportunity into success.”

Hannah Real Estate Investors currently has two projects in progress, both of which are substantially pre-sold. In Stamford, he is helping to develop Mill River House, a luxury condominium development in downtown Stamford. Construction on the $25-million project, located on a brownfield site that was home to an abandoned, automobile dealership, is scheduled to begin next month. The development, which is about 85% preleased, is a joint venture between Hannah Real Estate Investors and Paxton and Ray Kinol of Stamford.

In addition, Weinstein is building Stonington Commons in Stonington, in partnership with Mallory and his former Clearview partners. The $37-million project is transforming an abandoned, waterfront, brownfield historic factory site into a landmark mixed-use community of condominiums, single-family homes and commercial space, including the Stonington Harbor Yacht Club, he says.

Weinstein says his new firm will initially be focused primarily on the Stamford market, although it will be looking for opportunities in Connecticut and the New York metro area. In fact, he says that he expects to sign contracts within the next 30 days on two land purchases in and around Downtown Stamford. Both parcels are brownfields and will be developed as residential housing in the future, he notes.

Weinstein’s past experience includes serving as president of Lexington Development Group from 1981 to 1992 during which time he helped develop office, retail and residential development projects in Vermont, Manhattan’s East Side, the central business district of Atlanta, as well as locally in Westchester and Fairfield counties. During his time at Clearview Investment Management, the firm redeveloped several Stamford office properties including the Seaview House and Atlantic House. The firm also assembled approximately 17 acres along the Stamford waterfront that Avalon Bay Communities would later develop into 323 luxury apartments. On Greenwich Harbor, Clearview redeveloped the old Greenwich Harbor Inn, and repositioned it as the upscale Delamar Hotel and L’Escale Restaurant.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.