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Klosed Properties’ investing thesis is, was, and always will be contrarian. Klosed sees the flight of capital from a given location as an opportunity to execute.

WE DO IT SMART

To bring you an essential added value in the management of real estate

During the Covid-19 Pandemic,Klosed Properties remained one of the most active buyers of real estate in NYC, and as the Pandemic eased, Klosed saw property values and rents jump dramatically, making this period one of the most successful in Klosed’s history.

As capital chased ever sinking yields in sunbelt markets, Klosed correctly saw this trend as fraught with downside risk. While high loads of bridge debt are beginning to erode at multifamily returns across the country, Klosed Properties is poised to execute on another round of market distress.
Klosed Properties has built a management machine that is geared towards handling the most difficult investing environments possible. With top management touring assets 2-3 times per week, Klosed Properties (through Bluesky Management) knows that it could capitalize on assets that other, less equipped, managers cannot. Being able to find solutions for even the hairiest assets has afforded Klosed the ability to find value in places other investors are missing.

OUR NUMBERS

We focus on underperforming assets and opportunistic investments. By utilizing our strong analytical skills, deep knowledge of the market, creative deal structures and critical relationships within the industry, we are able to unlock the value and potential of underperforming assets.

$500m+

Assets Under Management

With over 90 assets under our management, Klosed Properties is growing and expanding its portfolio at an unprecedented pace. We target densely populated markets and commercial corridors and shopping centers where retailers register high sales volume.

$450m+

In Transaction Volume

Klosed Properties has been growing at an unprecedented pace primarily due to its stellar reputation and integrity within the industry. As a family firm, we apply our core values in every aspect of our lives - especially in business

115+

Successful Transactions

Our vertically integrated business spans across sourcing, funding, renovating and managing our assets internally gives us a solid competitive edge.

45+

Completed Projects

Klosed Properties cuts out the middlemen which simplifies and accelerates our decision-making processes and boosts performance.

$25m+

Gross Revenue

We have developed a proprietary nationwide platform that allows us to analyze each segment of every major retail market in the U.S. in granular detail. We close up to 15 deals a year and have invested more than $265,000,000 since 2008.

$500m+

Assets Under Management

$450m+

In Transaction Volume

115+

Successful Transactions

45+

Completed Projects

$25m+

Gross Revenue

KLOSED PROPERTIES OVER TIME

2005

STEVEN GRADUATED baruch college

He started working with his grandpa buying and selling foreclosed homes in Queens and Brooklyn.

2007

STEVEN STARTED KLOSED PROPERTIES

A brokerage business, focused on selling properties to investors in his community.

2013

FIRST ACQUISITION
302 Broome St, a vacant retail condo

2014

ACQUISITION
144 W 46th St,
Klosed Properties’
first renovation project

ACQUISITION
466 Myrtle Ave,
Brooklyn for
$1,500,000

2015

HIRED OUR FIRST PROPERTY MANAGER

ACQUISITION
211 Nassau Ave
purchase price of $2,000,000

ACQUISITION
2809 Third Ave, Bronx
for $1,575,000

ACQUISITION
837 Second Ave

ACQUISITION
20 St Marks

ACQUISITION
663 Flatbush Ave

2016

SOLD
466 Myrtle Ave, Brooklyn
for $2,460,000

ACQUISITION
507 Myrtle Ave, Brooklyn our first full gut renovation

ACQUISITION
2427 Hoffman St., Bronx our first property with high violations count and in the AEP program

ACQUISITION
210 E 117th St, NYC
for $1,350,000

PURCHASED
688 Washington Ave,
Brooklyn our first conversion project

2018

SOLD
210 E 117th St for $2,250,000

PURCHASED
2038 5th Ave, NYC our first building with a regulatory agreement 

 

2019

Record year with 14 Acquisitions

ACQUISITION
2503 Hughes Ave, our first property catering to students in Belmont for Fordham Students

SOLD
2809 Third Ave, Bronx for $3,150,000

2020

8 Acquisitions in one year

2021

Record year with 19 Acquisitions

ACQUISITION
191 Bedford Ave, in prime Williamsburg 

ACQUISITION:
117 W 57th St, on Prime Billionaire’s Row
 

ACQUISITION
9th Avenue portfolio for $26M 

ACQUISITION
2651 Broadway, a 125-unit SRO that we are converting to 54 Class A units

2022

SOLD
211 Nassau Ave. for $4,200,000 

ACQUISITION
666 9th Ave

ACQUISITION
721 Columbus Avenue

2023

KLOSED OPPORTUNISTIC FUND was incorporated & launched

TEAM-MEET OUR PROPLE

OUR LEADERSHIP

We are a family owned and operated company, with strong family values that are represented in our high level of service and integrity. Our values and the deep expertise of our team are what make Klosed Properties known throughout the industry as one of the most agile, creative, and operationally savvy real estate investors and owner-operators in New York.

MEET THE TEAM

Steven Kashanian

Managing Principal

Steven Kashanian
Managing Principal

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Rodolfo Kashanian

Principal

Rodolfo Kashanian
Principal

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Ryan Powers Tapp

Managing Director of Acquisitions

Ryan Powers Tapp
Managing Director of Acquisitions

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Shawn Aziz

VP of Acquisitions

Shawn Aziz
VP of Acquisitions

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RETAILMIXED USE MULTIFAMILY VALUE ADDED REPOSITIONING VERTICAL INTEGRATION RETAILMIXED USE MULTIFAMILY VALUE ADDED REPOSITIONING VERTICAL INTEGRATION
SOLUTION DRIVEN FAST EXECUTION NEW YORK FOCUSED PROPERTY MANAGEMENT CONSTRUCTION DEFAULTED NOTES SOLUTION DRIVEN FAST EXECUTION NEW YORK FOCUSED PROPERTY MANAGEMENT CONSTRUCTION DEFAULTED NOTES