Soho Properties
Encyclopedia
Soho Properties is an American real estate
company that arranges and participates in real estate investments. It was founded by Sharif El-Gamal
in 2003.
, who had worked as a waiter in Manhattan from 1997 to 2001, and then become a commercial real estate broker in 2002 (leaving his job as a waiter at a restaurant named Serafina), and started the company in 2003. His partners in the company are Sammy El-Gamal (his brother) and Nour Mousa. Mousa is the nephew of Amr Moussa
, the Secretary General of the Arab League
. In September 2010 El-Gamal, was being evicted from his SoHo office, allegedly for failing to pay $39,000 in back rent, as reflected in a Manhattan Housing Court filing. The lawsuit was dismissed three months later by the Housing Court because El-Gamal had already vacated the space, arguing that he had "simply moved to another location" and "was never [truly] evicted" in the first place.
El-Gamal received a $39 million mortgage to buy the commercial building, and a partner, Egyptian-born businessman Hisham Elzanaty, co-signed the loan.
“where a piece of the wreckage fell,” was a primary selling point for the Muslims who bought the building, in order to "send the opposite statement to what happened on 9/11". Soho Properties paid the owner $4.85 million in cash for the property.
One of the two investors in the transaction with Soho Properties was the Cordoba Initiative, a tax-exempt foundation established in Colorado in 2004 by Imam Feisal Abdul Rauf
. The other investor of the two is another not-for-profit founded by Rauf, the American Society for Muslim Advancement. The Society is jointly run by Rauf and his wife out of the same New York office used by the Cordoba Initiative.
Claudia Rosett
, a journalist with the Foundation for Defense of Democracies
who writes a weekly column on foreign affairs for Forbes
, devoted a column to raising questions as to the source of the funding for the effort. Some U.S. politicians such as Republicans Peter T. King
and Rick Lazio
have asked for an investigation of the group’s finances, especially its foreign funding. King said: "The people who are involved in the construction of the mosque are refusing to say where their [$100 million] funding is going to come from." Dr. Zuhdi Jasser
, President of the American Islamic Forum for Democracy
, also said:
El-Gamal said he wanted the building to be energy-efficient and transparent, most likely with a glass façade. He said: “It’s really to provide a place of peace, a place of services and solutions for the community which is always looking for interfaith dialogue". He envisions it as "a place where I could show off my hospitality, my culture, my background".
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
company that arranges and participates in real estate investments. It was founded by Sharif El-Gamal
Sharif El-Gamal
Sharif El-Gamal is a New York City real estate developer. He is the chairman and chief executive officer of Soho Properties, a Manhattan-based real estate company...
in 2003.
Management
The chairman and chief executive officer of Soho Properties is Sharif El-GamalSharif El-Gamal
Sharif El-Gamal is a New York City real estate developer. He is the chairman and chief executive officer of Soho Properties, a Manhattan-based real estate company...
, who had worked as a waiter in Manhattan from 1997 to 2001, and then become a commercial real estate broker in 2002 (leaving his job as a waiter at a restaurant named Serafina), and started the company in 2003. His partners in the company are Sammy El-Gamal (his brother) and Nour Mousa. Mousa is the nephew of Amr Moussa
Amr Moussa
Amr Mohammed Moussa is an Egyptian politician and diplomat who was the Secretary-General of the Arab League, a 22-member forum representing Arab states, from 1 June 2001 until 1 June 2011. He is a candidate in the 2011 Egyptian presidential election....
, the Secretary General of the Arab League
Arab League
The Arab League , officially called the League of Arab States , is a regional organisation of Arab states in North and Northeast Africa, and Southwest Asia . It was formed in Cairo on 22 March 1945 with six members: Egypt, Iraq, Transjordan , Lebanon, Saudi Arabia, and Syria. Yemen joined as a...
. In September 2010 El-Gamal, was being evicted from his SoHo office, allegedly for failing to pay $39,000 in back rent, as reflected in a Manhattan Housing Court filing. The lawsuit was dismissed three months later by the Housing Court because El-Gamal had already vacated the space, arguing that he had "simply moved to another location" and "was never [truly] evicted" in the first place.
31 West 27th Street
In November 2009, it was reported that the firm spent $45.7 million to purchase 31 West 27th Street in New York City, a 12-story, 108594 square feet (10,088.7 m²) office building. Soho Properties made a $5 million down payment. El-Gamal said: "We just bought it for the income. It's got great long-term leases, and the financing was really attractive. We have five years at a very attractive interest rate, and it's probably the best B building in this submarket." Soho Properties purchased it from the Witkoff Group, which had purchased the building in 2006 for $31.5 million.El-Gamal received a $39 million mortgage to buy the commercial building, and a partner, Egyptian-born businessman Hisham Elzanaty, co-signed the loan.
Park51
In July 2009, it purchased the 47–51 Park Place building on the site of the planned then-called Cordoba House, now officially titled Park51 and popularly dubbed by some American commentators the "Ground Zero Mosque". The specific location, close to the World Trade CenterWorld Trade Center
The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...
“where a piece of the wreckage fell,” was a primary selling point for the Muslims who bought the building, in order to "send the opposite statement to what happened on 9/11". Soho Properties paid the owner $4.85 million in cash for the property.
One of the two investors in the transaction with Soho Properties was the Cordoba Initiative, a tax-exempt foundation established in Colorado in 2004 by Imam Feisal Abdul Rauf
Feisal Abdul Rauf
Feisal Abdul Rauf is an American Sufi imam, author, and activist whose stated goal is to improve relations between the Muslim world and the West...
. The other investor of the two is another not-for-profit founded by Rauf, the American Society for Muslim Advancement. The Society is jointly run by Rauf and his wife out of the same New York office used by the Cordoba Initiative.
Claudia Rosett
Claudia Rosett
Claudia Rosett is an American writer and journalist. She is journalist-in-residence at the Foundation for the Defense of Democracies, a policy institute based in Washington, D.C. A former staff writer for The Wall Street Journal, she writes a weekly column for Forbes, blogs for Pajamas Media, and...
, a journalist with the Foundation for Defense of Democracies
Foundation for Defense of Democracies
The Foundation for Defense of Democracies describes itself as a non-profit, non-partisan policy institute "working to defend free nations against their enemies". It was founded shortly after the September 11, 2001, attacks to address what it regards as the "threat facing America, Israel and the...
who writes a weekly column on foreign affairs for Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
, devoted a column to raising questions as to the source of the funding for the effort. Some U.S. politicians such as Republicans Peter T. King
Peter T. King
Peter T. "Pete" King is the U.S. Representative for , serving since 1993. He is a member of the Republican Party. King's central Long Island district includes parts of Nassau and Suffolk counties....
and Rick Lazio
Rick Lazio
Enrico Anthony "Rick" Lazio is a former U.S. Representative from the state of New York. Lazio became well known nationally when he ran against Hillary Rodham Clinton for the U.S. Senate in New York's 2000 Senate election...
have asked for an investigation of the group’s finances, especially its foreign funding. King said: "The people who are involved in the construction of the mosque are refusing to say where their [$100 million] funding is going to come from." Dr. Zuhdi Jasser
Zuhdi Jasser
Zuhdi Jasser, also known as M. Zuhdi Jasser, and Mohamed Zuhdi Jasser, is a medical doctor specializing internal medicine and nuclear cardiology in Phoenix, AZ. Jasser is a former Lieutenant Commander in the United States Navy where he served as staff internist in the Office of the Attending...
, President of the American Islamic Forum for Democracy
American Islamic Forum for Democracy
American Islamic Forum for Democracy is a Muslim American think tank formed in March 2003 by a small group of Muslim professionals in the Phoenix Valley of Arizona. The group's founder is M. Zuhdi Jasser, M.D...
, also said:
There should be transparency about who those investors are, whether that money is coming from domestic interest or not, and if it's coming from foreign interests we need to know, because I think that's a liability, and it shows that there is another agenda rather than domestic security and tranquility.
El-Gamal said he wanted the building to be energy-efficient and transparent, most likely with a glass façade. He said: “It’s really to provide a place of peace, a place of services and solutions for the community which is always looking for interfaith dialogue". He envisions it as "a place where I could show off my hospitality, my culture, my background".
External links
- Soho Properties official website (username required)
- Soho Properties archived website (accessed 30 December 2006)
- "CNN's Feyerick Plays Hardball With Ground Zero Mosque Developer", Matthew Balan, NewsBusters, July 21, 2010