Solly Assa, Solly Assa is the Founder & CEO of Assa Properties (Assa Properties Inc)

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I have been working in real estate for a long time, and during that time I had the opportunity to learn some valuable lessons which made me realize that real estate is not a short-term business.

Get to know Solly Assa

From opulent residences to sleek hotels, Solly Assa has developed unique and exclusive luxury properties. A seasoned businessman and entrepreneur, Solly is the founder and CEO of Assa Properties. With his decades-long experience in the industry, Solly has worked in every aspect of real estate, be it residential, retail, hotel, or commercial. Today, Assa Properties owns some 3 million square feet of real estate across the United States and Mexico.

Solly Assa has an eye for identifying and capitalizing on quality investment opportunities in upscale markets. Since launching Assa Properties nearly two decades ago, Solly has been driven by the idea of transformation—creating full-spectrum experiences that fill a need and make a bold statement to outshine and outperform current offerings.

Solly Assa was drawn to real estate for its variety and diversity, as well as the prospect of leaving a lasting, tangible legacy. From the very beginning, Solly envisioned a wide-ranging, imaginative portfolio that encompassed all areas of development. Unlike competitors, Solly Assa took a long-term, consumer-friendly approach; he understood that the payoff for real estate doesn’t lie in buying land today and selling off a development tomorrow. Instead, the best developers look ahead to the medium to distant future, building up property value and timing their move for maximum profit.

For this reason, Solly Assa designed Assa Properties’ flagship development and brand, Cassa Hotel & Residences. Consisting of two upscale properties—Cassa NYC and Cassa Times Square—located directly in the heart of Manhattan, Cassa offers the best of both worlds, pairing the opulence of an upscale residence with the convenience of a hotel. Guests and residents alike can choose from Cassa’s extensive menu of luxury amenities, including maid service, child care, pet care, and fitness centers. Further, Cassa offers owners an unparalleled degree of customization and flexibility, allowing residents to alter their floor plans and merge units as they wish. In addition, Assa Properties will soon be developing another property, Cassa Puerto Vallarta, in Mexico.

In addition, Solly Assa has a long track record of working with leaders in the hospitality industry to create unique, trendy nightlife and dining experiences at his properties. At Cassa Times Square, Solly and his partners created Bar Gonzo, a 4,000 square foot restaurant and lounge that pays homage to the Art Deco, mid-century aesthetic of the Hunter S. Thompson era. At Cassa NYC, Solly worked with the team behind 1Oak and Up&Down to create Butter, an upscale eatery offering fresh, seasonal fare in a tasteful, understated setting. Butter’s executive chef is former Iron Chef Alex Guarnaschelli.

Today, Solly Assa is bullish about the future prospects of the real estate market, particularly in North America. In 2018, Assa Properties sold 19 West 55th Street, a nine-story mixed-use property, for $50 million. Solly oversaw the extensive renovations, including refitting apartments with luxury fixtures and building out multi-level retail spaces. Thanks to Solly’s leadership and the hard work of his team, 19 West 55th Street saw a significant rise in occupancy, increasing from 25 percent in 2013 to nearly 100 percent today.

Going forward, Solly Assa has plans to expand the Assa Properties portfolio, both independently and through joint ventures, branching out into new locations.

Solly Assa's Blog Posts

Awards

Diamond Chairman's Circle

Prudential Douglas Elliman's Top 25

Skills

Real Estate Development

Investment Properties

Negotiation

Real Estate Transactions

Real Estate Economics

Entrepreneurship

Business

Hotel Development

Investments

Real Estate Financing 

Mergers and Acquisitions

Brokerage

Hotel Management

Capital Markets

Leases

Real Estate

Property Management

Residential Real Estate

Commercial Real Estate

Investent Management

Investment Strategies

Residential Homes

Condos

Portfolio Management

Hedge Funds

Hospitality Industry

Private Equity

Investors

Networking

Real Estate Negotiating

Corporate Housing

Construction Loans

Bank Owned Commercial Real Estate

International Real Estate

Deal Sourcing

Institutional Investments

CMBS

Service Areas (1)
  • New York, NY
  • New York County, NY
Specialties (11)
  • Commercial
  • Condos/Townhomes
  • Eco-Friendly
  • Investment Properties
  • Land
  • Luxury Homes
  • New Construction
  • Property Management
  • Renters
  • Residential
  • Sellers
Languages (1)
  • English