Solly Assa has been in real estate for over two decades, his empire spans across the U.S. and Mexico as his company, Assa Properties, has acquired over 3 million square feet of assets in both countries. Assa properties mainly targets development and investment into major retail, residential, and commercial properties. Solly Assa’s architecture is completed by TEN Arquitectos/Enrique Norten, which is a premier architecture service that has worked on a broad array of award-winning and acclaimed architectural projects that span diverse types, scales, including furniture design, single-family apartments, residential, commercial and cultural buildings. Additionally, this is in collaboration with CentraRuddy. Founding principals of CentraRuddy include John Centra and Nancy J. Ruddy, who have been providing quality projects in architecture, planning, interior design and product design for more than 20 years.
Assa first began his journey in the real estate industry as he was motivated to make a statement by creating something that would stand out from anything else that was already on the market. He says that finding the correct way to position his asset in terms of location is a driving element for capturing a large share of the market. He always aims to set the new standard with his properties by going against the grain of traditional methods of real estate development. Suffice to say, his approach has been met with tremendous success as one of his biggest properties, Cassa NY, has become a popular place of residence for some of the most elite and affluent members of society. Such residents include rapper French Montana, Rihanna, and Princes from royal families in the Middle East.
Cassa NY is an ultra-luxury residential-hotel fusion in the Midtown region of New York. Cassa NY is a tremendous addition to the lively skyline of NYC. It features refined proportions and dramatically articulated windows, Cassa's astonishing exterior both complements and contrasts with the cityscape around it. Cassa is a great addition to the architectural fiber of NYC, it provides an extraordinary quality of life for some of the highest members of society. Most notably, French Montana paid $22,000 a month for one unit within a three-unit combination that is being marketed for $50 million, as noted in this NYPOST article.
According to a recent article, the unit French Montana previously lived in is being rented out by esteemed Yankee’s player Rougned Odor. The “open-concept” penthouse is 8,300 square feet over 3.5 floors. It features six bedrooms, seven bathrooms and three powder rooms, along with 20-foot ceilings, a chef’s kitchen, limestone floors and city skyline views. If you are interested in a walkthrough of this open concept penthouse, check out this link. Hotel amenities for building residents include a gym, maid service and top restaurant, Butter, from Food Network star chef Alex Guarnaschelli.
Cassa NY also has three luxurious penthouses with the highest levels of privacy, they can only be accessed by key-operated elevators. These penthouses have jaw-dropping 360-degree views of Manhattan. The most enthralling component of these penthouses is that they were each designed as part of Showtime's Showhouse for California Home and Design Awards, where some of the best interior designers honor some of their favorite Showtime series, like the wide acclaimed Dexter. Cassa NY has been able to thrive due to Assa’s ability to find affluent buyers who were in the market for large and luxurious residences.
Other noteworthy projects by Assa include the acquisition of 15 west and 19 west 55th street for $60M, the sale of a mixed-use property at 19 W 55th Street for $50 million, as well as a refinance of 15 west 55th with Barclay’s bank for $73 million - following a major revitalization program. Another Cassa project on 45th street is valued at approximately $280 million, as well as a project in Time Square that is valued for approximately $200 million.
Another key ingredient for Assa’s prosperity is his personal relationships with his clients, they are integral to his success as he can make sure that the needs of every client are met with the utmost care and professionalism. His ability to achieve sustainability with his projects is due to his in-depth market knowledge, as well as his ability to execute the acquisition of a property at the optimal buying time.
Assa is a visionary real estate entrepreneur that continues to look for ways to grow his portfolio, he is always open minded to new ideas for projects through joint ventures. Just like any successful entrepreneur in their respective field, Assa is always staying up to date on the evolution of the real estate space by doing immense research by reading and learning about any changes in real estate that may affect his current, or future projects. His goal is to create the best possible product, in the best location and position for his asset. His monumental success in real estate is predicated on his ability to remain confident, turning any fear into fuel for his fiery passion.
For more information, please check out their website here: Cassaresidences
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