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Locals Only: Eldad Blaustein

Uncategorized // Sep 03, 2015

Eldad Blaustein and Shaun Osher at the 15 Renwick launch eventEldad Blaustein and Shaun Osher at the 15 Renwick launch event.

‘Locals Only’ features notable New Yorkers, innovators and friends of CORE and their chosen neighborhoods. We hope to share the magic and uniqueness of New York City’s local areas through the eyes of those who know it best.

Eldad Blaustein serves as the CEO for IGI-USA and oversees all operation in the US.  In his 20 year real estate career, Mr. Blaustein has been involved in a wide variety of real estate acquisition, development, sales and property management aggregating 4 million Square feet and over $800 million in transactions. Recent residential developments include Tribeca’s 93 Worth, a trailblazer for the area, and Hudson Square’s 15 Renwick, one of NYC’s few new properties on a single block street.

Is 15 Renwick IGI’s first development in SoHo? Why did you choose Hudson Square?
Until recently the neighborhood had been mostly commercial buildings that were industrial, but still very beautiful and interesting. With Hudson Square surrounded by the most desirable neighborhoods in Manhattan–in my opinion–I saw the potential and need for it to become a more residential area. And with that, the idea for 15 Renwick was born.

Tell us your 3 neighborhood haunts.
Rouge Et Blanc, Lelebar and Joanne Hendricks Cookbooks

What’s your favorite street in this neighborhood?
That’s somewhat of a rhetorical question for me… As a great believer in the neighborhood, Hudson Square is evolving as a very special, boutique neighborhood, and Renwick Street reflects that sentiment perfectly. Renwick is still somewhat of a secret street for those unfamiliar to the area and 15 Renwick is like living in a private club on your very own street. It’s pretty spectacular.

What do you value here that other neighborhoods don’t have?
Hudson Square is defined as the triangle on the river among Tribeca, SoHo, and the West Village – the 3 most desirable neighborhoods in Manhattan, maybe even the country. Because it’s surrounded by the most expensive residential, commercial and retail real estate, it has the potential (and I truly believe it’s a perfect location) to becoming the hottest new residential destination. Most real estate experts talk about the 3 L’s… location, location, location. But in this sophisticated new era in real estate, I define it as the floating TRE: transportation, recreation and education–with order chosen by the buyer. (At my age with three children, it’s ETR.) Hudson Square perfectly emulates the TRE factor.

What’s one thing that most people don’t know about your neighborhood?
Hudson Square, one of New York’s oldest neighborhoods, was once known as the Printing District. During this time, it was home to the first African American newspaper in the United States, Freedom’s Journal. Today it still remains the site of media-related activity, with Saatchi & Saatchi, MTV, and New York Magazine offices here.