Blackstone Buying NYC’s Parker Towers for $500M

Blackstone Group LP is expanding its multifamily portfolio footprint in New York City. Blackstone Property Partners, the firm’s open-ended vehicle, is acquiring Parker Towers, a 1,300-unit apartment complex in Queens, from Jack Parker Corp. for a reported $500 million.

Parker Towers is located at 104-20 Queens Blvd. in the Forest Hills neighborhood, a 30-minute subway ride to midtown Manhattan. The complex encompasses three 20-story residential towers, and has such amenities as 24-hour doorman service, a gym, dog run, indoor parking and a private club.

The property is viewed as an affordable rental option outside of Manhattan and other parts of Queens, where rents are high. The Blackstone fund also owns two sizable apartment complexes in Manhattan: Stuyvesant Town-Peter Cooper Village and Kips Bay.

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Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Blackstone Buying NYC’s Parker Towers for $500M

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Blackstone Buying NYC’s Parker Towers for $500M

Inside The Story

About Dennis Kaiser