March 16th, 2007
Industry veteran embarks on crowning achievement. Ghent Realty Services - Profile of the Week Robert Siegel - The Hubert condominiums
Having spearheaded numerous major real estate developments in New York, Boston and elsewhere over the course of a distinguished 30-year real estate career, Robert Siegel has embarked on his crowning achievement.
He is setting a new standard for connoisseur living at The Hubert, a 16-story condominium now rising at 7 Hubert Street in historic TriBeCa.
Less than six months after sales began, The Hubert–a $100 million project–is a manifest success.
Buyers have embraced Siegel’s vision. And years of patience, creativity and steadfast determination are bearing fruit. Remarkably, with 12 months to completion, more than half of the residences at The Hubert have already been sold.
When the partnership headed by Siegel purchased the property in 2000 from The Hubert’s original developer, the deal included development plans that had already been approved by the City’s Landmarks Preservation Commission–a demanding and lengthy process.
For most developers, this would have been serendipitous. But Siegel, dissatisfied with the first design concept, opted to re-approach the Commission and reopen the process so he could execute his bold vision. He wanted bigger, more luxurious units with higher ceilings and larger windows to provide spectacular views and natural light. He envisioned outdoor terraces and gardens. He preferred large, elegant maisonettes and townhouses to ground floor commercial space.
Siegel engaged noted interior designer, Alan Wanzenberg, to enhance and revamp the interior, reducing the number of residences from 67 to 33, creating spacious individualized residences–40 per cent of which have their own outdoor areas. The exterior redesign by architects BKSK, ingeniously reflecting the landmark character of the neighborhood, was enthusiastically endorsed by the Commission. Construction began earlier this year.
Siegel credits his drive and focus to his great-grandfather, Abraham Siegel, whose original business success came as the country’s largest manufacturer of private-label cigars.
His family later invested in and acquired significant parcels of commercial property in Midtown the Upper East Side of Manhattan–purchases that planted the seeds for generations to come. Yet Siegel’s path into the family business was somewhat circuitous. After graduating from Bucknell University, he attended St. John’s Law School and later taught elementary school in the South Bronx, a challenging and rewarding experience where he could help make a difference in children’s lives.
Real estate, however, was in his blood, and soon became his exclusive passion. Rather than family ties, his foray into the industry came through a highly coveted summer broker’s internship offered by the Real Estate Board of New York, for which he applied and was accepted.
That led to a full time position at I. Wharton & Co. where he learned and perfected the craft of real estate finance and development. He was involved in the development and marketing of an extraordinary range of residential and commercial properties.
In the early 1970’s, he brought his strong background to Gotham Construction and helped the company expand its development activities. His tenure at Gotham produced pioneering projects, including 808 Broadway, the first cond-op building in New York, as well as Key West and the Westmont on Columbus Avenue, two of the city’s first 80-20 projects.
After completing a series of successful developments, Siegel in 1990 launched Ghent Realty Services, a real estate consulting firm. For more than a decade the firm has been involved with scores of important projects, including the Manhattan School of Music’s $60 million dormitory and performance center at 122nd Street and Broadway.
Siegel’s extensive professional experience, unwavering commitment to quality and attention to detail, are reflected in all aspects of The Hubert.
Its 33 beautifully designed residences include two mansion-width townhouses with private garages, three sprawling maisonettes, and 28 dazzling lofts, including a two-story, five-bedroom penthouse, with a private, 360 degree terrace. There are 22 individualized residential layouts offering choice and ideal living environments.
As construction progresses, Robert Siegel continues to oversee development and focus intensively on the details of his craft to insure that his unique vision for this new landmark is fully implemented.