60 Guilders Founders Split
What happens when they split, things stay the same and partners just work out an agreement on what one of them is owed?
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Are they splitting? Also why would anyone on here know? And if we did know, why would we comment on an anonymous forum?
Yes, per The Real Deal NYC.
I’d share if I knew and only if atleast another 5+ people knew. That way there is no way I could be singled out.
1/6=16%. Too few people to risk it
Partners likely will stay involved on an oversight level / major decisions and one will be left in charge to run the deals and day to day. Then based on that they will agree on how economics work. It a long and arduous process and negotiation. Just a guess but this is what I've seen in my experience.
Definitely seemed like Kevin was the main partner and Bastian was #2, so assuming he got a better deal.
More to the point, these guys are like D-list NYC real estate players, and that's being generous. They're extremely small minority partners in a bunch of deals they don't seem to have any operational control over, and the only thing that they seemed to have actually run was that massive, generational flop of a retail play in Soho.
Look at their property portfolio on their website and a lot of this becomes pretty obvious. I get that small operators want to take credit and show a more impressive resume than might actually be the case, but to claim they own One Court Square is pretty audacious.
Fair on the ownership percentage I remember them saying they own 5-10% of the equity in their deals so very small but I never got the shitting on them because they're owners. I'm not sure where you work but it's always funny to me a VP or MD at a large firm that they didn't help build will shit on smaller operators who go out on their own like they would somehow be the next Tishman Speyer if they were in the same position - I think it's pretty impressive what they put together even if they own a small fraction they're doing deals for fees which is a lot of people in the industry.
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